NOVATO, Calif., Aug. 6, 2014 /PRNewswire/ -- Hennessy
Advisors, Inc. (NASDAQ:HNNA) today reported fully diluted
earnings per share of $0.35 for the
third fiscal quarter ended June 30,
2014, an increase of 46% over the prior comparable period
ended June 30, 2013. Total
assets under management as of June 30,
2014 were $5.4 billion, which
represents an increase of almost 50% versus June 30, 2013. Likewise, average assets
under management, upon which revenue is calculated, increased by
40% from period to period. 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.
The Board of Directors of Hennessy Advisors, Inc. today also
declared a quarterly dividend of $0.04 per share. This dividend will be paid
on September 15, 2014 to shareholders
of record as of August 21, 2014.
"The financial markets continued to deliver strong results over
the quarter, with the Dow Jones Industrial Average recently hitting
an all-time high. Our mutual funds demonstrated momentum as well,
as each of our sixteen funds delivered positive performance over
the 1-, 3-, 5- and 10-year periods (ended June 30, 2014)," said Neil Hennessy, President, Chairman and CEO of
Hennessy Advisors, Inc. "While the markets may experience short
term periods of volatility, I continue to believe that the
fundamentals underlying the financial markets are viable and that
we should see moderate market returns over the long run. Through
any market rallies or inevitable pull-backs, here at Hennessy
Advisors, we are committed to building shareholder value by
focusing on our business strategy for the long term," he added.
|
Hennessy Advisors,
Inc.
|
|
Financial
Highlights
|
|
Period to
Period
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
|
Third
Quarter
|
Jun. 30,
2014
|
Jun. 30,
2013
|
$
Change
|
%
Change
|
|
Total
Revenue
|
$
8,784,533
|
$
6,505,770
|
$
2,278,763
|
35.0%
|
|
Net
Income
|
$
2,045,137
|
$
1,369,792
|
$
675,345
|
49.3%
|
|
Earnings Per Share
(Diluted)
|
$
0.35
|
$
0.24
|
$
0.11
|
45.8%
|
|
Weighted Average
Number of Shares Outstanding
(Diluted)
|
|
|
|
|
|
5,821,722
|
5,720,926
|
100,796
|
1.8%
|
|
Mutual Fund Average
Assets
|
|
|
|
|
|
Under
Management
|
$ 5,005,358,102
|
$ 3,567,795,425
|
$ 1,437,562,677
|
40.3%
|
|
|
|
|
|
|
|
|
At Period Ending
Date
|
Jun. 30,
2014
|
Jun. 30,
2013
|
$
Change
|
%
Change
|
|
Mutual Fund Total
Assets
|
|
|
|
|
|
Under
Management
|
$ 5,380,831,040
|
$ 3,593,673,417
|
$ 1,787,157,623
|
49.7%
|
|
Retained
Earnings
|
$ 24,442,522
|
$ 18,458,347
|
$
5,984,175
|
32.4%
|
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: For information on the listed expert,
click appropriate link.
Neil J. Hennessy
ProfNet - http://www.profnetconnect.com/neil_hennessy
SOURCE Hennessy Advisors, Inc.