NOVATO, Calif., Aug. 3, 2016 /PRNewswire/ -- Hennessy
Advisors, Inc. (NASDAQ:HNNA) today reported fully diluted
earnings per share of $0.76 for the
third fiscal quarter ended June 30,
2016, an increase of 36% over the prior comparable quarter
ended June 30, 2015. Quarterly
revenue totaled $13.0 million, an
increase of 9% over the prior comparable period. From
June 30, 2015, to June 30, 2016, both total assets under management
and average assets under management, upon which revenue is
calculated, increased by 4%.
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 September 12, 2016, to
shareholders of record as of August 18,
2016.
"Through another quarter of uncertainty and turmoil in the
markets, we were pleased to deliver solid earnings for our
shareholders," said Neil Hennessy,
President, Chairman and CEO of Hennessy Advisors, Inc.
"Throughout 2016, we've repeatedly watched the financial
markets brace themselves for bad news, such as waiting for the Fed
to make an interest rate move or watching the drama of Brexit
unfold, yet the markets bounce back. Overall, we believe that
volatility will remain, but also believe the sound fundamentals
underlying today's markets should continue to allow companies to
provide reasonable results and survive that turbulence. We
strive to be a source of strength during this volatility by
offering investors a wide range of products that have the potential
to perform well over a market cycle," added Mr. Hennessy.
Hennessy Advisors,
Inc.
|
Financial
Highlights
|
Period to
Period
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
Third
Quarter
|
June 30,
2016
|
June 30,
2015
|
$
Change
|
%
Change
|
Total
Revenue
|
$
12,994,745
|
$
11,968,304
|
$
1,026,441
|
9%
|
Net
Income
|
$
3,894,185
|
$
3,303,388
|
$
590,797
|
18%
|
Earnings Per Share
(Diluted)
|
$
0.76
|
$
0.56
|
$
0.20
|
36%
|
Weighted Average Number of
Shares Outstanding (Diluted)
|
5,154,094
|
5,855,397
|
(701,303)
|
-12%
|
Mutual Fund Average
Assets
|
|
|
|
|
Under
Management
|
$
6,440,480,621
|
$
6,180,375,151
|
$
260,105,470
|
4%
|
|
|
|
|
|
At Period Ending
Date
|
June 30,
2016
|
June 30,
2015
|
$
Change
|
%
Change
|
Mutual Fund Total
Assets
|
|
|
|
|
Under
Management
|
$
6,342,901,803
|
$
6,074,905,322
|
$
267,996,481
|
4%
|
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.
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SOURCE Hennessy Advisors, Inc.