News Column

Hennessy Advisors, Inc. Announces Quarterly Earnings of $0.35 Per Share

August 22, 2014

By a News Reporter-Staff News Editor at Economics Week -- Hennessy Advisors, Inc. (NASDAQ:HNNA) reported fully diluted earnings per share of $0.35 for the third fiscal quarter ended June 30, 2014, an increase of 46% over the prior comparable period ended June 30, 2013. Total assets under management as of June 30, 2014 were $5.4 billion, which represents an increase of almost 50% versus June 30, 2013. Likewise, average assets under management, upon which revenue is calculated, increased by 40% from period to period. The increase in assets under management is attributable to both strong investment performance of and positive net purchases into the Hennessy family of mutual funds.

The Board of Directors of Hennessy Advisors, Inc. today also declared a quarterly dividend of $0.04 per share. This dividend will be paid on September 15, 2014 to shareholders of record as of August 21, 2014.

"The financial markets continued to deliver strong results over the quarter, with the Dow Jones Industrial Average recently hitting an all-time high. Our mutual funds demonstrated momentum as well, as each of our sixteen funds delivered positive performance over the 1-, 3-, 5- and 10-year periods (ended June 30, 2014)," said Neil Hennessy, President, Chairman and CEO of Hennessy Advisors, Inc. "While the markets may experience short term periods of volatility, I continue to believe that the fundamentals underlying the financial markets are viable and that we should see moderate market returns over the long run. Through any market rallies or inevitable pull-backs, here at Hennessy Advisors, we are committed to building shareholder value by focusing on our business strategy for the long term," he added.

Keywords for this news article include: Economics, Hennessy Advisors Inc., Investment and Finance.

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Source: Economics Week

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