NOVATO, Calif., May 5, 2014 /PRNewswire/ -- Hennessy
Advisors, Inc. (NASDAQ: HNNA) today reported fully diluted
earnings per share of $0.30 for the
second fiscal quarter ended March 31,
2014, an increase of 50% over the prior comparable period
ended March 31, 2013. During
the same time period, total assets under management increased 40%
to $4.8 billion, and likewise,
average assets under management, upon which revenue is calculated,
increased by 43%. The increase in assets under management is
attributable to both strong investment performance of and positive
net purchases into the Hennessy family of mutual funds.
Additionally, the Board of Directors of Hennessy Advisors, Inc.
today declared a quarterly dividend of $0.04 per share. This dividend will be paid
on June 12, 2014 to shareholders of
record as of May 20, 2014.
"The U.S. economy, the financial markets and our mutual funds
all continue to demonstrate positive momentum, and we believe the
inflows into our funds are an indication that investors are
gradually returning to the equity markets after many years of
investing in fixed income products," said Neil Hennessy, President, Chairman and CEO of
Hennessy Advisors, Inc. "American corporations are producing record
profits, which we believe bodes well for the stock market, and at
Hennessy Advisors we are focused on building and hopefully
expanding the success of our marketing and sales program," he
added.
Hennessy Advisors,
Inc.
|
Financial
Highlights
|
Period to
Period
|
|
|
|
Three Months
Ended
|
|
|
Second
Quarter
|
Mar. 31,
2014
|
Mar. 31,
2013
|
$
Change
|
%
Change
|
Total
Revenue
|
$
8,309,358
|
$
5,947,208
|
$
2,362,150
|
39.7%
|
Net Income
|
$
1,759,238
|
$
1,117,173
|
$ 642,065
|
57.5%
|
Earnings Per Share
(Diluted)
|
$ 0.30
|
$ 0.20
|
$ 0.10
|
50.0%
|
Weighted Average
Number of Shares Outstanding (Diluted)
|
5,805,340
|
5,714,559
|
90,781
|
1.6%
|
Mutual Fund Average
Assets Under Management
|
$
4,622,065,397
|
$
3,227,861,349
|
$
1,394,204,048
|
43.2%
|
|
|
|
|
|
At Period Ending
Date
|
Mar. 31,
2014
|
Mar. 31,
2013
|
$
Change
|
%
Change
|
Mutual Fund Total
Assets Under Management
|
$
4,774,228,519
|
$
3,406,426,286
|
$
1,367,802,233
|
40.2%
|
Retained
Earnings
|
$
22,635,226
|
$
17,272,435
|
$
5,362,791
|
31.0%
|
About Hennessy Advisors, Inc.
Hennessy Advisors, Inc. is a publicly traded investment manager
offering a broad range of domestic equity, balanced and fixed
income, and sector and specialty mutual funds. Hennessy Advisors,
Inc. is committed to its consistent and repeatable investment
process, combining time-tested stock selection strategies with a
highly disciplined, team-managed approach, and to superior service
to shareholders.
Supplemental Information
Nothing in this press release 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
https://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=100270
SOURCE Hennessy Advisors, Inc.