NOVATO, Calif., Aug. 3, 2015 /PRNewswire/ -- Hennessy
Advisors, Inc. (NASDAQ: HNNA) today reported fully diluted
earnings per share of $0.56 for the
third fiscal quarter ended June 30,
2015, a record high for the firm and an increase of 60% over
the prior comparable quarter ended June 30,
2014. Quarterly revenue totaled $12
million, an increase of 36% from $8.8
million for the prior comparable period. From
June 30, 2014 to June 30, 2015, total assets under management
increased 13%, while average assets under management, upon which
revenue is calculated, increased by 24%. 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 today
declared a quarterly dividend of $0.06 per share. This quarterly dividend
will be paid on September 10, 2015 to
shareholders of record as of August 18,
2015.
"We are pleased to report strong earnings this quarter," said
Neil Hennessy, President, Chairman
and CEO of Hennessy Advisors, Inc. "So far in 2015, we've
experienced choppy financial markets, but as different segments of
the markets move in and out of favor, we are able to offer
investors a broad line-up of products that have the potential to
perform well across market cycles," added Mr. Hennessy.
Hennessy Advisors,
Inc.
|
Financial
Highlights
|
Period to
Period
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
Third
Quarter
|
|
Jun. 30,
2015
|
Jun. 30,
2014
|
$
Change
|
%
Change
|
Total
Revenue
|
|
$ 11,968,304
|
$
8,784,533
|
$
3,183,771
|
36.2%
|
Net
Income
|
|
$
3,303,388
|
$
2,045,137
|
$
1,258,251
|
61.5%
|
Earnings Per Share
(Diluted)
|
|
$
0.56
|
$
0.35
|
$
0.21
|
60.0%
|
Weighted Average
Number of
|
|
|
|
|
Shares Outstanding
(Diluted)
|
5,855,397
|
5,821,722
|
33,675
|
0.6%
|
Mutual Fund Average
Assets
|
|
|
|
|
Under
Management
|
|
$ 6,180,375,151
|
$ 5,005,358,102
|
$ 1,175,017,049
|
23.5%
|
|
|
|
|
|
|
|
At Period Ending
Date
|
|
Jun. 30,
2015
|
Jun. 30,
2014
|
$
Change
|
%
Change
|
Mutual Fund Total
Assets
|
|
|
|
|
Under
Management
|
|
$ 6,074,905,322
|
$ 5,380,831,040
|
$ 694,074,282
|
12.9%
|
Retained
Earnings
|
|
$ 33,482,607
|
$ 24,442,522
|
$
9,040,085
|
37.0%
|
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 superior service to shareholders and a
consistent and repeatable investment process, combining time-tested
stock selection strategies with a highly disciplined, team-managed
approach.
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
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SOURCE Hennessy Advisors, Inc.