Hennessy Advisors, Inc. First Quarter Earnings Increase 13%
26 Gennaio 2006 - 11:37PM
PR Newswire (US)
NOVATO, Calif., Jan. 26 /PRNewswire-FirstCall/ -- Hennessy
Advisors, Inc. (OTC:HNNA) (BULLETIN BOARD: HNNA) Chief Executive
Officer and President, Neil Hennessy, today announced fully diluted
earnings per share for Hennessy Advisors, Inc. of $0.35 for the
quarter ended December 31, 2005, up from $0.31 per share in the
prior comparable period, an increase of 13%. Growth in earnings is
primarily attributable to increased mutual fund assets under
management. Total mutual fund assets increased by 33%, growing to
$1.83 billion on December 31, 2005, compared to $1.38 billion on
December 31, 2004. The acquisition of The Henlopen Fund, which
occurred on July 1, 2005, accounts for approximately two-thirds of
the growth in assets, with the remainder in growth coming from
market appreciation of the mutual funds managed by Hennessy
Advisors, Inc. "We are delighted by the strong performance of our
mutual funds which translates to strong financial results for the
shareholders of Hennessy Advisors," said Mr. Hennessy. "We
anticipate that our shareholders will be pleased with our quarterly
growth in revenue, income and earnings," he added. Hennessy
Advisors, Inc. Financial Highlights Period to Period Three Months
Ended First Quarter Dec. 31, Dec. 31, 2005 2004 $ Change % Change
Total Revenue $3,683,100 $2,700,264 $982,836 36.4% Net Income
$895,027 $778,000 $117,027 15.0% Earnings per share (diluted) $0.35
$0.31 $0.04 12.9% Weighted average number of shares outstanding
2,582,494 2,537,237 45,257 1.8% At Period Ending Date Dec. 31, Dec.
31, 2005 2004 $ Change % Change Mutual fund assets under management
$1,831,992,622 $1,376,303,290 $455,689,332 33.1% Hennessy Advisors,
Inc., located in Novato, CA, is a publicly traded investment
advisor to six 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. 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. The distributor for the Hennessy Funds is
Quasar Distributors, LLC. The funds' investment objectives, risks,
charges and expenses must be considered carefully before investing.
The prospectus contains this and other important information about
the investment company, and it may be obtained by calling
800-966-4354 or by visiting http://www.hennessyfunds.com/. Read it
carefully before you invest or send money. 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 First
Call Analyst: FCMN Contact: terry@hennessyfunds.com 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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