EARNINGS PER SHARE

6 Months Ended

Dec. 31, 2020

NOTE 9. EARNINGS PER SHARE

The basic earnings per share (“EPS”) calculation excludes dilution and is computed by dividing net income by the weighted average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution of EPS that could occur if options to issue common stock were exercised.

The following table sets forth the computation for basic and diluted EPS:

	Six Months Ended December 31,					Three Months Ended December 31,
(dollars in thousands, except per share data)	2020		2019			2020		2019
Income (Loss) from Continuing Operations	$	18,605	$	(4,405	)	$	16,661	$	(926	)

Loss from Discontinued Operations		-		(253	)		-		(117	)
Less: Net Loss Attributable to Non-Controlling Interest from Discontinued Operations		-		(88	)		-		(40	)
Net Loss Attributable from Discontinued Operations to U.S. Global Investors, Inc.		-		(165	)		-		(77	)

Net Income (Loss) Attributable to U.S. Global Investors, Inc.	$	18,605	$	(4,570	)	$	16,661	$	(1,003	)

Weighted average number of outstanding shares
Basic		15,081,544		15,129,674			15,082,539		15,129,114
Effect of dilutive securities
Employee stock options		305		-			404		-
Diluted		15,081,849		15,129,674			15,082,943		15,129,114

Earnings Per Share Attributable to U.S. Global Investors, Inc.
Basic Net Income (Loss) per Share
Income (loss) from continuing operations	$	1.23	$	(0.29	)	$	1.10	$	(0.06	)
Loss from discontinued operations	$	-	$	(0.01	)	$	-	$	-
Net income (loss)	$	1.23	$	(0.30	)	$	1.10	$	(0.06	)
Diluted Net Income (Loss) per Share
Income (loss) from continuing operations	$	1.23	$	(0.29	)	$	1.10	$	(0.06	)
Loss from discontinued operations	$	-	$	(0.01	)	$	-	$	-
Net income (loss)	$	1.23	$	(0.30	)	$	1.10	$	(0.06	)

The diluted EPS calculation excludes the effect of stock options when their exercise prices exceed the average market price for the period. For the three and six months ended December 31, 2020, no employee stock options were excluded from diluted EPS. For the three and six months ended December 31, 2019, employee stock options for 2,000 were excluded from diluted EPS.

During the six months ended December 31, 2020, and 2019, the Company repurchased class A shares on the open market. Upon repurchase, these shares are classified as treasury shares and are deducted from outstanding shares in the earnings per share calculation.