Financial Information by Business Segment

12 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Financial Information by Business Segment

FINANCIAL INFORMATION BY BUSINESS SEGMENT

The Company manages the following business segments:

1. Investment Management Services, by which the Company offers, through USGIF, a Delaware statutory trust, and offshore clients, a broad range of investment management products and services to meet the needs of individual and institutional investors;

2. Investment Management Services - Canada, through which, as of June 1, 2014, the Company owns a 65% controlling interest in Galileo Global Equity Advisors Inc., a privately held Toronto-based asset management firm which offers investment management products and services in Canada; and

3. Corporate Investments, through which the Company invests for its own account in an effort to add growth and value to its cash position. Although the Company generates the majority of its revenues from its investment advisory segments, the Company holds a significant amount of its total assets in investments.

The following schedule details total revenues and income by business segment:

(dollars in thousands)	Investment Management Services			Investment Management Services - Canada		Corporate Investments			Consolidated
Year ended June 30, 2014
Net operating revenues	$	11,205		$	234	$	—		$	11,439
Net other income	$	—		$	—	$	2,165		$	2,165
Income (loss) from continuing operations before income taxes	$	(3,426	)	$	31	$	2,158		$	(1,237	)
Loss from discontinued operations	$	(243	)	$	—	$	—		$	(243	)
Depreciation and amortization	$	252		$	7	$	—		$	259
Capital expenditures	$	30		$	—	$	—		$	30
Gross identifiable assets at June 30, 2014	$	9,843		$	2,159	$	25,495		$	37,497
Deferred tax asset									$	349
Consolidated total assets at June 30, 2014									$	37,846
Year ended June 30, 2013
Net operating revenues	$	17,318		$	—	$	—		$	17,318
Net other income	$	—		$	—	$	262		$	262
Income (loss) from continuing operations before income taxes	$	(178	)	$	—	$	249		$	71
Loss from discontinued operations	$	(165	)	$	—	$	—		$	(165	)
Depreciation	$	275		$	—	$	—		275
Capital expenditures	$	39		$	—	$	—		$	39
Year ended June 30, 2012
Net operating revenues	$	22,374		$	—	$	—		$	22,374
Net other loss	$	—		$	—	$	(177	)	$	(177	)
Income (loss) from continuing operations before income taxes	$	2,851		$	—	$	(189	)	$	2,662
Loss from discontinued operations	$	(108	)	$	—	$	—		$	(108	)
Depreciation	$	282		$	—	$	—		282
Capital expenditures	$	18		$	—	$	—		$	18