Current Report Filing (8-k)
02 Dicembre 2014 - 10:20PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT
REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported): December 2,
2014
HENNESSY ADVISORS, INC.
(Exact name of registrant as specified in
its charter)
| California |
001-36423 |
68-0176227 |
(State or other jurisdiction
of incorporation) |
(Commission
File Number) |
(IRS Employer
Identification No.) |
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7250 Redwood Blvd., Suite 200
Novato, California |
94945 |
| (Address of principal executive offices) |
(Zip Code) |
Registrant’s telephone number including
area code: (415) 899-1555
Not Applicable
(Former name or former address, if changed
since last report)
Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230 .425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17 CFR 240.13e-4(c)) |
| Item 2.02. | Results of Operations and Financial Condition |
On December 2, 2014,
Hennessy Advisors, Inc. issued a press release announcing its financial results for the fiscal year ended September 30, 2014.
A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference
herein.
| Item 9.01. | Financial
Statements and Exhibits |
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Exhibit |
Description |
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99.1 |
Earnings release issued December 2, 2014 by Hennessy Advisors, Inc. for the fiscal year ended September 30, 2014. |
signatures
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
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HENNESSY ADVISORS, INC. |
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| December 2, 2014 |
By: |
s/ Neil J. Hennessy |
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Neil J. Hennessy |
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President |
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HENNESSY ADVISORS, INC.
Exhibit Index to Current Report on Form
8-K dated December 2, 2014
| 99.1 | Earnings release issued December 2, 2014 by Hennessy Advisors, Inc. for the fiscal year ended September 30,
2014. |
Hennessy Advisors, Inc. Annual Earnings Increase by 57%, Reaching New Record High
NOVATO, Calif., Dec. 2, 2014 /PRNewswire/ -- Hennessy Advisors, Inc. (NASDAQ:HNNA) today reported fully diluted earnings per share for the fiscal year ended September 30, 2014 of $1.30, which represents an increase of 57% from the prior fiscal year earnings of $0.83 per share, and an all-time high for the company. Total assets under management increased 37% from $4.03 billion at the beginning of the fiscal year to $5.52 billion at the end of the fiscal year, and average assets under management increased by almost 50%, producing a corresponding increase in revenue, net income and earnings per share versus the prior year. The asset growth was driven by strong net sales
into the firm's mutual funds of approximately $837 million, as well as by positive fund performance of approximately $650 million.
"We started this fiscal year with $4 billion in assets under management, surpassed $5 billion in May and were able to continue to grow assets to end our fiscal year at over $5.5 billion. This solid asset growth produced record-setting annual net income of $7.7 million on revenue of $34.5 million," said Neil Hennessy, President, Chairman and CEO of Hennessy Advisors, Inc. "As we look toward 2015 and beyond, we will continue to follow our proven business model of organic growth and strategic acquisitions," he added.
"I firmly believe that we are in the midst of a long-term bull market and that the fundamentals of corporate America are solid and growing stronger. Despite recent volatility, I also still believe we will
continue to see market highs in the coming months and years," noted Mr. Hennessy.
Hennessy Advisors, Inc. |
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Financial Highlights |
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Year to Year |
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| Twelve Months Ended |
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Fiscal Year | Sept. 30, 2014 | Sept. 30, 2013 | $ Change | % Change |
Total Revenue | $ 34,525,772 | $ 24,308,435 | $ 10,217,337 | 42.0% |
Net Income | $
7,666,453 | $ 4,820,447 | $ 2,846,006 | 59.0% |
Earnings per share (diluted) | $ 1.30 | $ 0.83 | $ 0.47 | 56.6% |
Weighted Average number of |
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shares outstanding (diluted) | 5,896,714 | 5,810,431 | 86,283 | 1.5% |
Mutual Fund Average Assets |
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Under Management | $ 4,843,936,132 | $ 3,284,478,084 | $ 1,559,458,048 | 47.5% |
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At Period Ending Date | Sept. 30, 2014 | Sept. 30, 2013 | $ Change | % Change |
Mutual Fund Total Assets |
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Under Management | $ 5,520,802,377 | $ 4,034,180,973 | $ 1,486,621,404 | 36.9% |
Retained Earnings | $ 26,561,725 | $ 17,852,202 | $ 8,709,523 | 48.8% |
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 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: Neil J. Hennessy
For information on the listed expert, click appropriate link.ProfNet - https://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=100270
CONTACT: Tania Kelley, Hennessy Advisors, Inc., tania@hennessyadvisors.com, 800-966-4354; or Melissa Murphy, SunStar Strategic, MMurphy@sunstarstrategic.com, 212-600-2150
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