Operating expenses for the current quarter were $2.6 million, a decrease of $194,000 or 7%, primarily due to decreases in employee compensation and benefits of $168,000 or 15%, mainly due to decreases in bonuses. On the next slide, we see our operating income for the quarter ending December 31, 2023, is $192,000 or a decrease of $716,000 compared to the same quarter for fiscal year 2023. And you can also see that our other income increased $1.3 million compared to the prior year, and that was mainly due to unrealized gains on equity securities in the current quarter for $279,000 compared to unrealized losses in the prior year of $937,000. Net income after taxes for the quarter was $1.2 million or the $0.09 per share, which was an increase of $382,000 compared to the net income of $847,000 or $0.06 per share the same quarter last year.
On the next slide, we see that we still have a strong balance sheet. It includes high levels of cash and securities. And on the following page, we see that we still have no long-term debt. We have a net working capital of $38.3 million, which is an increase of $840,000 or 2% since June 30, 2023, and our current ratio is 18.8:1. With that, I’ll turn it over to Holly to discuss marketing and distribution initiatives.
Holly Schoenfeldt : Thank you, Lisa. All right. On the next slide, I want to briefly point out some of the upcoming events that U.S. Global will be attending or speaking at. The first is ETF Exchange, where our head trader will be headed to next week in Miami and then following that the week after Frank Holmes will be attending and speaking at the Oxford Clubs Investment E-Conference, there, he will be sharing his thought leadership on the various industries that we invest in and how to gain exposure to these industries via our funds. And then in March, Frank will head over to Zurich for the Swiss Mining Institute, where he will be speaking alongside other industry leaders in the gold and precious metal space. Then on the next slide, I want to point out a quick stat about our website traffic during the quarter ended December 31.
We’ve had over 0.5 million visitors from around the world visit usfunds.com. Many repeat visitors, but even more new visitors, many of whom came to read the award-winning Frank Talk blog or sign up for the Investor Alert newsletter, which we’ve seen tremendous growth in subscribers on for the last several months. Then moving on to the next slide. Don’t forget that our educational content does not only come in the form of the Frank Talk blog or the Investor Alert newsletter. We love educating our shareholders through video content as well. So make sure you’re subscribed to our YouTube page to get video updates on everything from gold to airlines to luxury goods. Then lastly, as we wrap up today’s presentation, I just want to remind everyone that we do share a majority of our new content as well as announcements about upcoming events across all of our social media platforms, which continue to grow across the board.
Then on the next slide, I just encourage you to follow us on all of these platforms. So you stay up to date with what’s going on with GROW, our funds and our broader market insights. And then just as a friendly reminder to our audience as we wrap up today, if you do have any questions, please email those to info@usfunds.com and we will gladly follow-up with you to get anything clarified that you may need more information on. Thank you so much for tuning in today.
End of Q&A:
