NOVATO, Calif., Dec. 8 /PRNewswire-FirstCall/ -- Hennessy Advisors, Inc. (OTC:HNNA) (BULLETIN BOARD: HNNA) Chief Executive Officer and President, Neil Hennessy, today announced fully diluted earnings per share for Hennessy Advisors, Inc. of $1.10 for the fiscal year ended September 30, 2006, up from $0.80 in the prior fiscal year, an increase of over 37%. Growth in income is primarily attributable to increased mutual fund assets under management. Total mutual fund assets increased by nearly 14%, growing to $2.06 billion at September 30, 2006, compared to $1.81 billion at September 30, 2005. For the fiscal year ended September 30, 2006, income and revenue each grew by more than 40%, compared to the prior fiscal year. "I am very pleased to deliver double-digit growth in earnings for the fourth consecutive year," said Mr. Hennessy. "Our strong growth in revenue and income as compared to our growth in assets reinforces the scalability of our business model," he added. Hennessy Advisors, Inc. Financial Highlights Year to Year Twelve Months Ended Sept. 30, Sept. 30, Fiscal Year 2006 2005 $ Change % Change Total Revenue $16,933,730 $11,997,378 $4,936,352 41.1% Net Income $4,403,385 $3,139,334 $1,264,051 40.3% Earnings per share diluted $1.10 $0.80 $0.30 37.5% Weighted Average number of shares outstanding 4,007,956 3,921,825 86,131 2.2% At Period Ending Sept. 30, Sept. 30, Date 2006 2005 $ Change % Change Mutual Fund Assets Under Management $2,056,253,029 $1,807,472,160 $248,780,869 13.8% Hennessy Advisors, Inc., located in Novato, CA, is a publicly traded investment advisor to six no-load mutual funds. Each of the Hennessy Funds employs a superb, time-tested stock selection formula and is managed with unwavering discipline and consistency. Hennessy Advisors serves clients with integrity, honesty and candor, and fully discloses their strategies and performance. Supplemental Information Nothing in this section 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. Mutual fund investing involves risk; loss of principal is possible. While the Hennessy Funds are no-load, management and distribution fees and other expenses apply. The funds' investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and it may be obtained by calling 800-966-4354 or by visiting http://www.hennessyfunds.com/. Please read it carefully before investing. The distributor for the Hennessy Funds is Quasar Distributors, LLC. Available Topic Expert(s): For information on the listed expert(s), click appropriate link. Neil J. Hennessy http://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=36873 DATASOURCE: Hennessy Advisors, Inc. CONTACT: Terry Nilsen of Hennessy Advisors, Inc., +1-415-899-1555, or fax, +1-415-899-1559 Web site: http://www.hennessyadvisors.com/

Copyright