Hennessy Advisors, Inc. (HNNA) is the publicly traded investment manager of the Hennessy Funds. Hennessy offers a broad range of domestic equity, specialty, balanced and fixed income products. Hennessy employs a consistent and repeatable investment process, combining time-tested stock selection formulas with a highly disciplined, team-managed approach.
HNNA reported today fully diluted earnings per share of $0.13 for the first quarter ended December 31, 2012, an increase of 333% over the previous period ended December 31, 2011.
Total assets under management increased 287% to over $3 billion, and average assets increased by 216%, producing a corresponding increase in revenue, net income and earnings per share versus the prior comparable period.
The Board of Directors of Hennessy Advisors, Inc. today also declared a quarterly dividend of $0.03125 per share to be paid on February 25, 2013 to shareholders of record as of February 1, 2013.
Neil Hennessy, President, Chairman and CEO of Hennessy Advisors, commented:
Financial performance for the first quarter was clearly impacted by the purchase of the assets related to the management contracts of the FBR Funds, which took place on October 26, 2012. We are excited to now manage over $3 billion in assets and offer shareholders a broader and more diversified lineup of mutual fund products. We remain committed to our long-range business model and to our core value that our shareholders always come first. We will continue to focus on growing our mutual fund assets through marketing and sales, and to diligently search for strategic asset purchases.
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