U.S. Global Investors, Inc. reported a net income of $315,000, or $0.02 per share, for the quarter ended September 30, 2024. This marks a significant improvement compared to a net loss of $176,000 in the same quarter of the previous fiscal year. The positive shift was bolstered by a strong consolidated other income of $995,000.
Despite the return to profitability, average assets under management (AUM) decreased by $640 million to $1.5 billion compared to the year-ago quarter. The company maintained its commitment to shareholder returns by authorizing a monthly dividend of $0.0075 per share through December 2024. Additionally, U.S. Global Investors repurchased 197,887 shares for approximately $520,000 during the quarter ended September 30, 2024.
As of September 30, 2024, the company demonstrated a strong liquidity position with net working capital of approximately $38.2 million. Cash and cash equivalents stood at $27.3 million, providing a solid financial foundation. This financial stability supports ongoing operations and future investment activities.
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