Business
U.S. Global Investors Announces Sustainably Robust Quarter, with Average AUM Up 100% from the Same Period Last Year and Net Income at $0.16 Per Share, up 23% Year-Over-Year
San Antonio, TX, Jan. 11, 2022 (GLOBE NEWSWIRE) -- U.S. Global Investors, Inc. (NASDAQ: GROW) (the “Company”), a registered investment advisory firm with
About this update from U.s. Global Investors, Inc.
[{"type":"text","content":"San Antonio, TX, Jan. 11, 2022 (GLOBE NEWSWIRE) -- U.S. Global Investors, Inc. (NASDAQ: GROW) (the “Company”), a registered investment advisory firm with longstanding experience in global markets and specialized sectors from gold mining to cryptocurrencies, today is pleased to report financial results for the fiscal quarter ended September 30, 2021. For the three-month period, total operating revenues were $6.5 million, an increase of over 100% year-over-year (YoY). Net income for the quarter was $2.4 million, or $0.16 per share, an increase of 23% YoY. Average assets under management (AUM) for the three-month period ended September 30, 2021, were $4.0 billion, twice as much as the same period last year. Operating margin for the quarter was 44%, compared to 29% for the quarter ended September 30, 2020. “I’m thrilled that U.S. Global Investors has remained a go-to fund shop for investors seeking strategic exposure to thematic sectors such as airlines, gold mining, luxury goods and crypto mining,” says Frank Holmes, CEO and Chief Investment Officer. “Later this month, we’ll be able to add shipping and cargo to that list when the U.S. Global Sea-to-Sky Cargo ETF, ticker SEA, begins trading. We’re excited to include this offering in our growing stable of innovative, quant-based exchange-traded funds, which also includes the U.S. Global Jets ETF (JETS) and U.S. Global GO GOLD and Precious Metal Miners ETF (GOAU).” U.S. Global Investors Is Deeply Undervalued Relative to Peers Management and the Company’s Board of Directors are reviewing strategies to unlock the deep value of the stock moving into 2022. “The ETF business continues to grow exponentially. I invite shareholders to explore the simple comparison table , showing GROW relative to other investment advisors of various sizes, that are also in the ETF space. Based on relative comparisons, I believe U.S. Global looks not only deeply undervalued, but also very attractive on a variety of metrics. I look forward to explaining in greater detail during our webcast on January 12,” explains Mr. Holmes. JETS Trading Volume Has Remained Strong Despite New Variant JETS continued to attract assets, ending the September quarter with $3.7 billion, an increase of more than 125% compared to the same quarter end in 2020. Despite concerns of new coronavirus variants disrupting commercial air trave...