-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CWs4pIPxLIYdkxq558K0KIeaJYoMXdQVvffKS0fzQ1u7VqE/SB7iw+2mM0KeDLtg 4R1SWD69ytbAkiqbIR+yWw== 0000754811-04-000003.txt : 20040218 0000754811-04-000003.hdr.sgml : 20040218 20040213172808 ACCESSION NUMBER: 0000754811-04-000003 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040213 ITEM INFORMATION: FILED AS OF DATE: 20040213 DATE AS OF CHANGE: 20040218 FILER: COMPANY DATA: COMPANY CONFORMED NAME: U S GLOBAL INVESTORS INC CENTRAL INDEX KEY: 0000754811 STANDARD INDUSTRIAL CLASSIFICATION: INVESTMENT ADVICE [6282] IRS NUMBER: 741598370 STATE OF INCORPORATION: TX FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-13928 FILM NUMBER: 04600757 BUSINESS ADDRESS: STREET 1: 7900 CALLAGHAN RD CITY: SAN ANTONIO STATE: TX ZIP: 78229 BUSINESS PHONE: 2103081234 MAIL ADDRESS: STREET 1: 7900 CALLAGHAN ROAD CITY: SAN ANTONIO STATE: TX ZIP: 78229 FORMER COMPANY: FORMER CONFORMED NAME: UNITED SERVICES ADVISORS INC /TX/ DATE OF NAME CHANGE: 19950321 8-K 1 r8k-0204.txt FORM 8-K PRESS RELEASE ON EARNINGS FOR 12/31/2003 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 13, 2004 U.S. GLOBAL INVESTORS, INC. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Texas 0-13928 74-1598370 - -------------------------------------------------------------------------------- (State of other juris- (Commission IRS Employer diction of incorporation) File Number) Identification No.) 7900 Callaghan Road, San Antonio, Texas 78229 - -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: 210-308-1234 - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) Item 12. Results of Operations and Financial Condition. On February 13, 2004, U.S. Global Investors, Inc. issued a press release reporting earnings and other financial results for its fourth quarter of 2003, which ended December 31, 2003. A copy of the press release is attached and being furnished as Exhibit 99. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. U.S. Global Investors, Inc. By:/s/ Susan B. McGee ------------------------ Susan B. McGee President/General Counsel Dated: February 13, 2004 EX-99 3 ex99.txt PRESS RELEASE Contact: Tracy Peterson Chief Financial Officer 210.308.1241 tcpeterson@usfunds.com Rolf Gatlin Public Relations 210.308.1268 rmgatlin@usfunds.com For Immediate Release U.S. Global Investors Reports Positive Net Income of $0.17 Per Share For Second Quarter ************************************************************************ SAN ANTONIO - February 13, 2004 - U.S. Global Investors, Inc. (NASDAQ: GROW) (the Company), a registered investment advisory firm, announced it posted net income for the quarter ended December 31, 2003, of approximately $1.2 million, $0.17 income per share, unaudited, compared to net income of approximately $142,000, $0.02 income per share, unaudited, for the comparable period last year. For the six-month period ended December 31, 2003, the Company posted net income of approximately $1.9 million, $0.26 income per share, unaudited, compared to net income of approximately $253,000, $0.03 income per share, unaudited, for the six months ended December 31, 2002. Revenues for the quarter ended December 31, 2003, were approximately $2.3 million higher than the quarter ended December 31, 2002. In addition, revenues for the six-month period ended December 31, 2003, increased approximately $3.0 million as compared to the six months ended December 31, 2002. "These increases were largely due to substantial growth in the assets of the Company's gold, natural resource and foreign equity funds," says Frank Holmes, Chief Executive Officer of U.S. Global Investors. "The tremendous growth we have witnessed over the past year has largely been the result of the performance of our funds, which in turn has led to strong recognition from the industry's leading rating agencies." Expenses for the quarter ended December 31, 2003 were approximately $610,000 higher than the quarter ended December 31, 2002. The expenses for the six-month period ended December 31, 2003, increased approximately $699,000 as compared to the six months ended December 31, 2002. Consistent with increased fund assets and strong fund performance, certain sub-advisory fees, omnibus distribution costs, and performance-driven personnel costs contributed to the increases in expenses.
Financial Highlights (Unaudited) U.S. Global Investors, Inc. Quarter Ended Quarter Ended Six Months Ended Six Months Ended December 31, 2003 December 31, 2002 December 31, 2003 December 31, 2002 ----------------- ----------------- ----------------- ----------------- Total Revenues 4,337,177 2,040,743 6,966,066 4,011,698 Total Expenses 2,513,800 1,903,461 4,459,581 3,760,115 Tax Expense (Benefit) 574,884 (4,695) 570,481 (1,501) Net Income 1,248,493 141,977 1,936,004 253,084 Basic and Diluted Net Income Per Share 0.17 0.02 0.26 0.03 Weighted Average Diluted Shares Outstanding 7,542,424 7,464,993 7,523,340 7,467,909 Average Assets under Management ($ in millions) 1,310 1,059 1,188 1,084
About U.S. Global Investors, Inc. U.S. Global Investors, Inc. is a registered - ----- ---- ------ ---------- ---- investment adviser with a focus on profitable niche markets around the world. Headquartered in San Antonio, Texas, the company offers financial solutions and provides transfer agency and other services to U.S. Global Investors Funds and U.S. Global Accolade Funds. The groups consist of 12 no-load mutual funds that invest in a variety of investment options, from emerging markets to money markets. For more information about U.S. Global Investors and a prospectus for any of our funds, visit us online at www.usfunds.com, or call 1-800-US-FUNDS. This news release may include certain "forward-looking statements" including statements relating to revenues, expenses, and expectations regarding market conditions. These statements involve certain risks and uncertainties. There can be no assurance that such statements will prove accurate and actual results and future events could differ materially from those anticipated in such statements. -----END PRIVACY-ENHANCED MESSAGE-----