Hennessy Advisors, Inc. Second Quarter Earnings Increase 33%
03 Maggio 2006 - 12:24AM
PR Newswire (US)
NOVATO, Calif., May 2 /PRNewswire-FirstCall/ -- Hennessy Advisors,
Inc. (OTC:HNNA) (BULLETIN BOARD: HNNA) President and Chief
Executive Officer, Neil Hennessy, today announced fully diluted
earnings for Hennessy Advisors, Inc. of $0.28 per share for the
quarter ended March 31, 2006, up from $0.21 per share in the prior
comparable period, an increase of 33%. Diluted earnings for the six
months ended March 31, 2006 were $0.51 per share, up from $0.42 per
share in the prior comparable period, an increase of 21%. Growth in
earnings is primarily attributable to increased mutual fund assets
under management, which increased by 67%, growing from $1.35
billion on March 31, 2005 to $2.25 billion on March 31, 2006.
Positive performance of the Hennessy Funds accounts for 50% of the
growth in assets, while net new purchases into the mutual funds
account for 17%. The acquisition of The Henlopen Fund, which
occurred on July 1, 2005, accounts for the remaining 33% of the
growth in assets under management. "Our primary business objective
remains growing our assets under management for the benefit of our
shareholders," said Mr. Hennessy. "We are quite pleased with our
growth in assets, which has come from market appreciation, in-flows
to our funds and selective acquisitions. We are also pleased with
the associated increases in revenue, net income and earnings per
share," he added. Hennessy Advisors, Inc. Financial Highlights
Period to Period Three Months Ended March 31, March 31, Second
Quarter 2006 2005 Change % Change Total Revenue $4,180,941
$2,811,674 $1,369,267 48.7% Net Income $1,091,078 $829,049 $262,029
31.6% Earnings per share (diluted) $0.28 $0.21 $0.07 33.3% Weighted
Average number of shares outstanding 3,951,449 3,842,051 109,398
2.8% Six Months Ended March 31, March 31, Year-to-Date 2006 2005
Change % Change Total Revenue $7,864,041 $5,511,938 $2,352,103
42.7% Net Income $1,986,105 $1,607,049 $379,056 23.6% Earnings per
share (diluted) $0.51 $0.42 $0.09 21.4% Weighted Average number of
shares outstanding 3,909,710 3,835,251 74,459 1.9% At Period
Ending: March 31, March 31, Change % Change Mutual Fund Assets 2006
2005 Under Management $2,249,995,431 $1,347,880,953 $902,114,478
66.9% Hennessy Advisors, Inc., located in Novato, CA, is a publicly
traded investment advisor to six no-load mutual funds. Each of the
Hennessy Funds employs a superb, time-tested stock selection
formula and is managed with unwavering discipline and consistency.
Hennessy Advisors serves clients with integrity, honesty and
candor, and fully discloses their strategies and performance.
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/. Please read it carefully before
investing. 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/
http://www.hennessyfunds.com/
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