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Although the management of fish spawning aggregations (FSAs) often requires a precautionary approach that initially emphasizes conservation, understanding the dynamics of spawning and interactions with fishing activities can help identify long-term management solutions that balance conservation with utilization. We designed a parsimonious, per-recruit model to evaluate the potential effects of seven time-closure scenarios implemented during the spawning season on egg-production-per-recruit (EPR; a conservation metric) and yield-per-recruit (YPR; a fisheries metric) of Gulf corvina (Cynoscion othonopterus), a vulnerable marine fish that experiences persistent overfishing at its only known spawning grounds in the Gulf of California, Mexico. Five of seven scenarios provided measurable increases in EPR (11–48%) and were accompanied by proportional increases in YPR (29–36%) that resulted in a sustainable fishery. Increased mortality of juveniles and small adults through targeted fishing or as bycatch in other fisheries, however, would erode both the fisheries and conservation benefits of these time closures. Our results demonstrate that information on spawning and fishing activities can be combined with stakeholder input to identify regulations that permit the sustainable harvesting of FSAs. Furthermore, the implementation of brief, temporal fishing effort restrictions can represent a viable, less restrictive alternative to marine protected areas for the management of FSAs. [ABSTRACT FROM AUTHOR]