NOVATO, Calif., May 4, 2016 /PRNewswire/ -- Hennessy
Advisors, Inc. (NASDAQ:HNNA) today reported fully diluted
earnings per share of $0.64 for the
second fiscal quarter ended March 31,
2016, an increase of 45% over the prior comparable quarter
ended March 31, 2015. Quarterly
revenue totaled $12.2 million, an
increase of 15% over the prior comparable period. From
March 31, 2015, to March 31, 2016, total assets under management
increased 5%, while average assets under management increased by
less than 1%.
Additionally, the Board of Directors of Hennessy Advisors today
declared a quarterly dividend of $0.08 per share. This quarterly dividend will be
paid on June 13, 2016, to
shareholders of record as of May 19,
2016.
"Against the backdrop of a challenging stock market, we are
pleased to report solid results this quarter," said Neil Hennessy, President, Chairman and CEO of
Hennessy Advisors, Inc. "I believe that U.S. equities are in
the middle of a long-term, secular bull market and that every bull
market experiences periods of weakness. We encourage our mutual
fund investors to maintain a long-term time horizon while offering
them what we believe is a wide range of products that have the
potential to perform well through these choppy markets," added Mr.
Hennessy.
|
Hennessy Advisors,
Inc.
|
|
Financial
Highlights
|
|
Period to
Period
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
|
Second
Quarter
|
Mar. 31,
2016
|
Mar. 31,
2015
|
$
Change
|
%
Change
|
|
Total
Revenue
|
$ 12,191,842
|
$ 10,558,080
|
$ 1,633,762
|
15%
|
|
Net
Income
|
$
3,282,940
|
$
2,593,428
|
$
689,512
|
27%
|
|
Earnings Per Share
(Diluted)
|
$
0.64
|
$
0.44
|
$
0.20
|
45%
|
|
Weighted Average
Number of Shares Outstanding (Diluted)
|
5,129,074
|
5,862,559
|
(733,485)
|
-13%
|
|
Mutual Fund Average
Assets Under Management
|
$ 5,993,645,008
|
$ 5,983,459,607
|
$ 10,185,401
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0%
|
|
|
|
|
|
|
At Period Ending
Date
|
Mar. 31,
2015
|
Mar. 31,
2015
|
$
Change
|
%
Change
|
|
Mutual Fund Total Assets Under
Management
|
$ 6,424,453,419
|
$ 6,131,189,966
|
$ 293,263,453
|
5%
|
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
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https://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=100270
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SOURCE Hennessy Advisors, Inc.