Hennessy Advisors, Inc. Second Quarter Earnings Increase 18.5%
02 Maggio 2005 - 2:01PM
PR Newswire (US)
Hennessy Advisors, Inc. Second Quarter Earnings Increase 18.5%
NOVATO, Calif., May 2 /PRNewswire-FirstCall/ -- Hennessy Advisors,
Inc. (OTC:HNNA) (BULLETIN BOARD: HNNA) Chief Executive Officer and
President, Neil Hennessy, announced fully diluted earnings per
share of $.32 for the second quarter ended March 31, 2005, up from
$.27 in the prior comparable period, an increase of 18.5%. Diluted
earnings per share for the six months ended March 31, 2005, were
$.63, up from $.47 in the prior comparable period, an increase of
34.0%. "I am very pleased with our financial results, particularly
in light of increasing challenges in the financial markets and in
managing mutual funds," said Mr. Hennessy. "Successful investing
requires a long-term view, and here at Hennessy we will continue to
pursue long-term investment and business strategies for the benefit
of all of our shareholders." Hennessy Advisors, Inc. Financial
Highlights Period to Period Three Months Ended March 31, March 31,
Second Quarter 2005 2004 $ Change % Change Total Revenue $2,811,674
$2,390,733 $420,941 17.6% Net Income $829,049 $675,772 $153,277
22.7% Earnings per share (diluted) $0.32 $0.27 $0.05 18.5% Weighted
Average number of shares outstanding 2,561,367 2,522,481 38,886
1.5% Six Months Ended Year-to-Date March 31, 2005 March 31, 2004 $
Change % Change Total Revenue $5,511,938 $4,402,251 $1,109,687
25.2% Net Income $1,607,049 $1,200,279 $406,770 33.9% Earnings per
share (diluted) $0.63 $0.47 $0.16 34.0% Weighted Average number of
shares outstanding 2,556,834 2,532,938 23,896 0.9% At Period Ending
Date March 31, 2005 March 31, 2004 $ Change % Change Mutual Fund
Assets Under Management $1,347,880,953 $1,314,063,783 $33,817,170
2.6% Hennessy Advisors, Inc., located in Novato, CA, is the advisor
to five no-load mutual funds. The Hennessy Funds employ superb,
time-tested stock selection formulas and manage their funds with
unwavering discipline and consistency. Hennessy Funds serves
clients with integrity, honesty and candor, and their strategies
and performance are fully disclosed. Forward-Looking Statements
Statements in this press release regarding the business of Hennessy
Advisors, Inc., which are not historical facts, are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements involve a number of risks, uncertainties and other
important factors that could cause actual results and outcomes to
differ materially from any future results or outcomes expressed or
implied by such forward-looking statements. These risks,
uncertainties and other important factors are described in more
detail in the "Risk Factors" section of the Company's annual report
on Form 10-KSB for the fiscal year ended September 30, 2004, filed
December 14, 2004, with the U.S. Securities and Exchange Commission
including, without limitation, the "Risk Factors" section of
Management's Discussion and Analysis and Results of Operations. The
following factors may affect the actual results of the Company: --
Continuing volatility in the equity markets may cause the levels of
our assets under management to fluctuate significantly. -- Weak
market conditions or loss of investor confidence in the mutual fund
industry may lower our assets under management and reduce our
revenues and income. -- We face strong competition from numerous
and sometimes larger companies. -- Changes in the distribution
channels on which we depend could reduce our revenues or hinder our
growth. -- For the next several years, insurance costs are likely
to increase materially and we may not be able to obtain the same
types or amounts of coverage. -- For the next several years,
professional service fees are likely to increase due to increased
securities industry legislation. -- Changes in accounting
regulations may also have adverse effects on our earnings per
share. -- International conflicts and the ongoing threat of
terrorism may adversely affect the general economy, financial and
capital markets and our business. Supplemental Information Nothing
in this section shall be considered a solicitation to buy or an
offer to sell a security to any person in any jurisdiction where
such offer, solicitation, purchase or sale would be unlawful under
the securities laws of such jurisdiction. Mutual fund investing
involves risk; loss of principal is possible. While the Hennessy
Funds are no-load, management and distribution fees and other
expenses apply. For more complete information about the Hennessy
Funds, including fees and expenses, call 800-966-4354 to obtain a
free prospectus. Read it carefully before you invest or send money.
The distributor for the Hennessy Funds is Quasar Distributors, LLC.
Available Topic Expert(s): For information on the listed expert(s),
click appropriate link. Neil J. Hennessy
http://profnet.prnewswire.com/ud_public.jsp?userid=496838
DATASOURCE: Hennessy Advisors, Inc. CONTACT: Terry Nilsen of
Hennessy Advisors, Inc., +1- 415-899-1555, or fax, +1-415-899-1559
Web site: http://www.hennessyadvisors.com/
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