Hennessy Advisors, Inc. Announces Second Quarter Earnings of $0.17 Per Share
27 Aprile 2007 - 11:13PM
PR Newswire (US)
NOVATO, Calif., April 27 /PRNewswire-FirstCall/ -- Chief Executive
Officer and President, Neil Hennessy, today announced fully diluted
earnings per share for Hennessy Advisors, Inc. (OTC:HNNA) (BULLETIN
BOARD: HNNA) of $0.17 for the quarter ended March 31, 2007.
Earnings decreased slightly versus the prior comparable period,
which were $0.18 per share. Diluted earnings per share for the six
months ended March 31, 2007 were $0.36 per share, up from $0.34 in
the prior comparable period, an increase of approximately 6%. The
decline in earnings from the prior comparable period is primarily
attributable to decreased mutual fund assets under management.
Total mutual fund assets decreased to $1.90 billion at March 31,
2007, compared to $2.25 billion at March 31, 2006. The decrease in
assets is a combination of net outflows from the mutual funds and
negative market performance from period to period. "We are pleased
with our financial results for the quarter as well as for the
six-month period," said Mr. Hennessy. "Despite the volatility of
the overall market and our quarter-end assets under management
being down approximately $350 million, the corresponding earnings
per share for the quarter were down just a penny, while our
six-month earnings increased by two cents per share." Hennessy
Advisors, Inc. Financial Highlights Period to Period Three Months
Ended March 31, March 31, Second Quarter 2007 2006 $ Change %
Change Total Revenue $3,968,468 $4,180,941 $(212,473) -5.1% Net
Income $994,828 $1,091,078 $(96,250) -8.8% Earnings per share
diluted $0.17 $0.18 $(0.01) -5.6% Weighted Average number of shares
outstanding 6,019,956 5,927,174 92,782 1.6% Six Months Ended March
31, March 31, Year-to-Date 2007 2006 $ Change % Change Total
Revenue $8,355,381 $7,864,041 $491,340 6.2% Net Income $2,129,541
$1,986,105 $143,436 7.2% Earnings per share diluted $0.36 $0.34
$0.02 5.9% Weighted Average number of shares outstanding 5,962,250
5,864,565 97,685 1.7% March 31, March 31, At Period Ending Date
2007 2006 $ Change % Change Mutual Fund Assets Under Management
$1,899,943,737 $2,249,995,431 $(350,051,694) -15.6% Hennessy
Advisors, Inc., located in Novato, CA, is a publicly traded
investment advisor to six no-load mutual funds. Hennessy Advisors,
Inc. is committed to their time-tested, quantitative stock
selection formulas and disciplined money management approach.
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. Available Topic Expert(s): For information on
the listed expert(s), click appropriate link. Neil J. Hennessy
http://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=36873
DATASOURCE: Hennessy Advisors, Inc. CONTACT: Terry Nilsen of
Hennessy Advisors, Inc., +1-415-899-1555 Web site:
http://www.hennessyadvisors.com/
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