The company has scheduled a webcast for 10 a.m. Central time on Friday, May 8, 2009, to discuss the company's key financial results for the quarter. Frank Holmes, CEO and chief investment officer, will be accompanied on the webcast by Susan McGee, president and general counsel, and Catherine Rademacher, chief financial officer.

In the third quarter of fiscal 2009, U.S. Global recorded net income of $327,809, or 2 cents per diluted share, on revenue of $4.99 million. This compares to a net loss of $1.68 million, or 11 cents per diluted share, on revenue of $2.83 million in the quarter ended December 31, 2008, and net income of $2.12 million, or 14 cents per diluted share, on revenue of $12.27 million in the quarter ended March 31, 2008.

"The past quarter was challenging for all money managers due to market volatility and massive forced liquidations by hedge funds, which has hurt all asset classes," says Mr. Holmes. "However, we believe the worst is behind us. Most importantly, we did not have layoffs, as many of our peers have. This is important because our culture remains intact, which will help our performance when natural resources and emerging markets rebound. We have shaved costs and generated a modest profit as our policy became to `squeeze pennies until Lincoln screams.'

"Our mutual funds also faced a challenging quarter, though there was an upturn in performance in March that has continued into the current quarter," Mr. Holmes continues. "Several of the U.S. Global Investors equity funds have solid positive returns so far in 2009, and all but one of our nine equity funds have outperformed the S&P 500 over the same period."

Management fees, U.S. Global's primary revenue source, were adversely affected in the quarter by a decline in assets under management due to the dramatic downturn in the global economy. The lower AUM can be attributed mostly to a decline in market values.

Assets under management for SEC-registered funds and other clients stood at $1.93 billion as of March 31, 2009. Total assets under management during the latest quarter averaged $1.90 billion.