NOVATO, Calif., May 5, 2015 /PRNewswire/ -- Hennessy
Advisors, Inc. (NASDAQ:HNNA) today reported fully diluted
earnings per share of $0.44 for the
second fiscal quarter ended March 31,
2015, a record high for the firm and an increase of 47% over
the prior comparable quarter ended March 31,
2014. Quarterly revenue topped $10
million for the first time in the firm's history, totaling
$10.6 million, an increase of 27%
from $8.3 million for the prior
comparable period. Total assets under management as of
March 31, 2015 were $6.1 billion, which represents an increase of 28%
versus March 31, 2014.
Likewise, average assets under management, upon which revenue
is calculated, increased by 30% from period to period. The
increase in assets under management is attributable to both
positive net inflows and positive investment performance of the
family of mutual funds managed by Hennessy Advisors.
Additionally, the Board of Directors of Hennessy Advisors, Inc.
today declared a quarterly dividend of $0.06 per share. This quarterly dividend
will be paid on June 12, 2015 to
shareholders of record as of May 20,
2015. Hennessy Advisors, Inc. has paid dividends
each year since 2005.
"The U.S. financial markets experienced high volatility during
the quarter, and yet the major indices finished in positive
territory. Continued strong sales into our mutual funds and
positive market impact helped to drive our assets under management
to over $6 billion during the
quarter," said Neil Hennessy,
President, Chairman and CEO of Hennessy Advisors, Inc.
Hennessy Advisors,
Inc.
|
Financial
Highlights
|
Period to
Period
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
Second
Quarter
|
Mar. 31,
2015
|
Mar. 31,
2014
|
$
Change
|
%
Change
|
Total
Revenue
|
$ 10,558,080
|
$ 8,309,358
|
$ 2,248,722
|
27.1%
|
Net Income
|
$ 2,593,428
|
$ 1,759,238
|
$ 834,190
|
47.4%
|
Earnings Per Share
(Diluted)
|
$ 0.44
|
$ 0.30
|
$ 0.14
|
46.7%
|
Weighted Average
Number of
|
|
|
|
|
Shares Outstanding
(Diluted)
|
5,862,559
|
5,805,340
|
57,219
|
1.0%
|
Mutual Fund Average
Assets
|
|
|
|
|
Under
Management
|
$ 5,983,459,607
|
$ 4,622,065,397
|
$ 1,361,394,210
|
29.5%
|
|
|
|
|
|
At Period Ending
Date
|
Mar. 31,
2015
|
Mar. 31,
2014
|
$
Change
|
%
Change
|
Mutual Fund Total
Assets
|
|
|
|
|
Under
Management
|
$ 6,131,189,966
|
$ 4,774,228,519
|
$ 1,356,961,447
|
28.4%
|
Retained
Earnings
|
$ 30,540,741
|
$ 22,635,226
|
$ 7,905,515
|
34.9%
|
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
ProfNet -
https://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=100270
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SOURCE Hennessy Advisors, Inc.