Hennessy Advisors, Inc. Announces Third Quarter Earnings of $0.17 Per Share
02 Agosto 2007 - 8:04PM
PR Newswire (US)
NOVATO, Calif., Aug. 2 /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 $0.17 for the quarter
ended June 30, 2007. Earnings decreased versus the prior comparable
period, which were $0.22 per share. Diluted earnings per share for
the nine months ended June 30, 2007 were $0.53 per share, down from
$0.55 in the prior comparable period, a decrease of approximately
4%. 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 $1.91 billion at
June 30, 2007, compared to $2.18 billion at June 30, 2006. The
decrease in assets is a combination of net outflows from the mutual
funds, partly offset by positive market performance from period to
period. "We are pleased with our financial results for the quarter
as well as for the nine-month period," said Mr. Hennessy. "Despite
the volatility of the overall market and our quarter-end assets
under management being down approximately $269 million, the
corresponding earnings per share for the quarter were down five
cents, while our nine-month earnings decreased by only two cents
per share" he added. Hennessy Advisors, Inc. Financial Highlights
Period to Period Three Months Ended Third Quarter June 30, 2007
June 30, 2006 $ Change % Change Total Revenue $3,990,446 $4,701,847
$(711,401) -15.1% Net Income $1,024,243 $1,306,905 $(282,662)
-21.6% Earnings per share diluted $0.17 $0.22 $(0.05) -22.7%
Weighted Average number of shares outstanding 5,959,184 5,936,456
22,728 0.4% Nine Months Ended Year-to-Date June 30, 2007 June 30,
2006 $ Change % Change Total Revenue $12,345,827 $12,565,888
$(220,061) -1.8% Net Income $3,153,784 $3,293,010 $(139,226) -4.2%
Earnings per share diluted $0.53 $0.55 $(0.02) -3.6% Weighted
Average number of shares outstanding 5,952,636 5,941,445 11,191
0.2% At Period Ending Date June 30, 2007 June 30, 2006 $ Change %
Change Mutual Fund Assets Under Management $1,913,869,612
$2,182,579,530 $(268,709,918) -12.3% 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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