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): May 5, 2015

 

 

 

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.)

 

     

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 May 5, 2015, Hennessy Advisors, Inc. issued a press release announcing its financial results for the second quarter ended March 31, 2015. 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 7.01.Regulation FD Disclosure

 

On May 5, 2015, Hennessy Advisors, Inc. issued a press release announcing that it had declared a cash dividend of $0.06 per share on its common stock, payable June 12, 2015 to shareholders of record at the close of business on May 20, 2015.  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

 

Exhibit Description
   
99.1 Press release issued May 5, 2015 by Hennessy Advisors, Inc. announcing financial results for the fiscal quarter ended March 31, 2015 and declaration of a cash dividend.

 

 

2
 

 

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.

 

  HENNESSY ADVISORS, INC.  
       
       
       
May 5, 2015 By: /s/ Neil J. Hennessy  
    Neil J. Hennessy  
    President and CEO  
3
 

 

HENNESSY ADVISORS, INC.

 

Exhibit Index to Current Report on Form 8-K dated May 5, 2015

 

Exhibit Description
99.1 Press release issued May 5, 2015 by Hennessy Advisors, Inc. announcing financial results for the fiscal quarter ended March 31, 2015 and declaration of a cash dividend.

 

 

 

 



Hennessy Advisors, Inc. Reports Record High Quarterly Revenue and Earnings



Firm Also Announces Quarterly Dividend

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



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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