Hennessy Advisors, Inc. Announces Annual Earnings of $0.70 per Share
06 Dicembre 2007 - 10:24PM
PR Newswire (US)
NOVATO, Calif., Dec. 6 /PRNewswire-FirstCall/ -- Hennessy Advisors,
Inc. (OTC:HNNA) (BULLETIN BOARD: HNNA) President and Chief
Executive Officer, Neil Hennessy, today announced fully diluted
earnings per share for Hennessy Advisors, Inc. of $0.70 for the
fiscal year ended September 30, 2007. Earnings per share decreased
approximately 4% versus the prior fiscal year, which were $0.73.
The small decline in earnings is primarily attributable to
decreased mutual fund assets under management. Total mutual fund
assets were $1.72 billion at September 30, 2007, compared to $2.06
billion at September 30, 2006. "We are again pleased with the
financial results generated for our shareholders this year," said
Mr. Hennessy. "The financial markets have experienced tremendous
volatility over the past year. Our earnings for the year decreased
by only three cents per share, despite assets being down 16%," he
added. "In addition to delivering solid earnings per share this
year we have also increased cash reserves by 33%, or $3.4 million,
increased shareholder's equity by 23%, or $4.4 million, and reduced
long-term debt by 24%, or $2.1 million." Hennessy Advisors, Inc.
Financial Highlights Year to Year Twelve Months Ended Fiscal Year
Sept. 30, 2007 Sept. 30, 2006 $ Change % Change Total Revenue
$16,071,521 $16,933,730 $(862,209) -5.1% Net Income $4,132,711
$4,403,385 $(270,674) -6.1% Earnings per share diluted $0.70 $0.73
$(0.03) -4.1% Weighted Average number of shares outstanding
5,926,291 6,011,934 (85,643) -1.4% At Period Ending Date Sept. 30,
2007 Sept. 30, 2006 $ Change % Change Mutual Fund Assets Under
Management $1,720,763,355 $2,056,253,029 $(335,489,674) -16.3% Cash
and Cash Equivalents $13,760,080 $10,359,529 $3,400,551 32.8%
Long-Term Debt $6,508,694 $8,599,210 $(2,090,516) -24.3%
Shareholder's Equity $23,355,369 $18,948,723 $4,406,646 23.3%
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, Fax, +1-415-899-1559 Web
site: http://www.hennessyadvisors.com/
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