$HNNA
HENNESSY ADVISORS INC

2013 Q4 Form 10-Q Financial Statement

#000119312514028102 Filed on January 30, 2014

View on sec.gov

Income Statement

Concept 2013 Q4 2012 Q4
Revenue $7.921M $4.703M
YoY Change 68.42% 173.43%
Cost Of Revenue $1.400M $710.0K
YoY Change 97.18% 407.14%
Gross Profit $6.530M $3.990M
YoY Change 63.66% 152.53%
Gross Profit Margin 82.44% 84.84%
Selling, General & Admin $3.390M $2.350M
YoY Change 44.26% 92.62%
% of Gross Profit 51.91% 58.9%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $60.00K $40.00K
YoY Change 50.0% 100.0%
% of Gross Profit 0.92% 1.0%
Operating Expenses $4.846M $3.103M
YoY Change 56.17% 148.24%
Operating Profit $3.075M $1.600M
YoY Change 92.19% 384.85%
Interest Expense $246.0K $138.0K
YoY Change 78.26% -1480.0%
% of Operating Profit 8.0% 8.63%
Other Income/Expense, Net $0.00 -$110.0K
YoY Change -100.0%
Pretax Income $2.829M $1.352M
YoY Change 109.25% 322.5%
Income Tax $1.372M $584.4K
% Of Pretax Income 48.5% 43.22%
Net Earnings $1.457M $768.0K
YoY Change 89.71% 412.0%
Net Earnings / Revenue 18.39% 16.33%
Basic Earnings Per Share $0.25 $0.13
Diluted Earnings Per Share $0.25 $0.13
COMMON SHARES
Basic Shares Outstanding 5.724M shares 5.706M shares
Diluted Shares Outstanding 5.797M shares 5.706M shares

Balance Sheet

Concept 2013 Q4 2012 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.000M $4.900M
YoY Change -38.78% -37.18%
Cash & Equivalents $3.027M $4.927M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $407.0K $300.0K
YoY Change 35.67% 0.0%
Inventory
Prepaid Expenses $203.0K
Receivables $2.744M $2.000M
Other Receivables $500.0K $400.0K
Total Short-Term Assets $6.509M $7.600M
YoY Change -14.36% -12.64%
LONG-TERM ASSETS
Property, Plant & Equipment $257.0K $200.0K
YoY Change 28.5% 100.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $0.00
YoY Change -100.0%
Other Assets $455.0K $300.0K
YoY Change 51.67% 200.0%
Total Long-Term Assets $63.20M $43.00M
YoY Change 46.98% 87.77%
TOTAL ASSETS
Total Short-Term Assets $6.509M $7.600M
Total Long-Term Assets $63.20M $43.00M
Total Assets $69.71M $50.60M
YoY Change 37.77% 60.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.000M $1.200M
YoY Change 66.67% 300.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.750M $1.800M
YoY Change 108.33% 200.0%
Total Short-Term Liabilities $6.503M $3.400M
YoY Change 91.26% 277.78%
LONG-TERM LIABILITIES
Long-Term Debt $25.78M $16.40M
YoY Change 57.22% 811.11%
Other Long-Term Liabilities $0.00
YoY Change
Total Long-Term Liabilities $25.78M $16.40M
YoY Change 57.22% 811.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.503M $3.400M
Total Long-Term Liabilities $25.78M $16.40M
Total Liabilities $38.60M $24.60M
YoY Change 56.91% 267.16%
SHAREHOLDERS EQUITY
Retained Earnings $21.11M
YoY Change
Common Stock $9.997M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $31.10M $25.90M
YoY Change
Total Liabilities & Shareholders Equity $69.71M $50.60M
YoY Change 37.77% 60.13%

Cashflow Statement

Concept 2013 Q4 2012 Q4
OPERATING ACTIVITIES
Net Income $1.457M $768.0K
YoY Change 89.71% 412.0%
Depreciation, Depletion And Amortization $60.00K $40.00K
YoY Change 50.0% 100.0%
Cash From Operating Activities $1.483M -$115.0K
YoY Change -1389.57% -36.11%
INVESTING ACTIVITIES
Capital Expenditures $41.00K $105.0K
YoY Change -60.95% -310.0%
Acquisitions
YoY Change
Other Investing Activities $400.0K
YoY Change
Cash From Investing Activities -$19.19M -$19.60M
YoY Change -2.09% 39106.0%
FINANCING ACTIVITIES
Cash Dividend Paid $184.0K $180.0K
YoY Change 2.22%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $619.0K $206.0K
YoY Change 200.49%
Cash From Financing Activities 12.33M 15.92M
YoY Change -22.52% -5405.0%
NET CHANGE
Cash From Operating Activities 1.483M -115.0K
Cash From Investing Activities -19.19M -19.60M
Cash From Financing Activities 12.33M 15.92M
Net Change In Cash -5.379M -3.803M
YoY Change 41.44% 617.55%
FREE CASH FLOW
Cash From Operating Activities $1.483M -$115.0K
Capital Expenditures $41.00K $105.0K
Free Cash Flow $1.442M -$220.0K
YoY Change -755.45% 69.23%

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false
CY2013Q4 dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
CY2013Q4 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2013Q4 dei Document Type
DocumentType
10-Q
CY2013Q4 dei Document Period End Date
DocumentPeriodEndDate
2013-12-31
CY2013Q4 dei Entity Central Index Key
EntityCentralIndexKey
0001145255
CY2013Q4 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--09-30
CY2013Q4 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2013Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.25
CY2013Q4 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes
0.0802 pure
CY2013Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.25
CY2013Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5797260 shares
CY2013Q4 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.3400 pure
CY2013Q4 us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2017-10-26
CY2013Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.4850 pure
CY2013Q4 us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
0.0075 pure
CY2013Q4 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1483000
CY2013Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5724472 shares
CY2013Q4 us-gaap Debt Instrument Frequency Of Periodic Payment
DebtInstrumentFrequencyOfPeriodicPayment
47 Months
CY2013Q4 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0583 pure
CY2013Q4 us-gaap Revenues
Revenues
7921000
CY2013Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
1457000
CY2013Q4 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-43000
CY2013Q4 us-gaap Payments Of Loan Costs
PaymentsOfLoanCosts
153000
CY2013Q4 us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-40000
CY2013Q4 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
619000
CY2013Q4 us-gaap Income Taxes Paid
IncomeTaxesPaid
145000
CY2013Q4 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-29000
CY2013Q4 us-gaap Servicing Fees
ServicingFees
228000
CY2013Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
3075000
CY2013Q4 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
19152000
CY2013Q4 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-66000
CY2013Q4 us-gaap Interest Paid
InterestPaid
202000
CY2013Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
2829000
CY2013Q4 us-gaap Increase Decrease In Receivables
IncreaseDecreaseInReceivables
342000
CY2013Q4 us-gaap Net Income Loss
NetIncomeLoss
1457000
CY2013Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
49000
CY2013Q4 us-gaap Investment Advisory Fees
InvestmentAdvisoryFees
7693000
CY2013Q4 us-gaap Adjustments To Additional Paid In Capital Tax Effect From Share Based Compensation
AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation
CY2013Q4 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
41000
CY2013Q4 us-gaap Payments Of Dividends
PaymentsOfDividends
184000
CY2013Q4 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1048000
CY2013Q4 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1048000
CY2013Q4 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
12331000
CY2013Q4 us-gaap Proceeds From Bank Debt
ProceedsFromBankDebt
13287000
CY2013Q4 us-gaap Subadvisory Fees For Mutual Funds
SubadvisoryFeesForMutualFunds
1395000
CY2013Q4 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
529000
CY2013Q4 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
184000
CY2013Q4 us-gaap Share Based Compensation
ShareBasedCompensation
49000
CY2013Q4 us-gaap Depreciation And Amortization
DepreciationAndAmortization
60000
CY2013Q4 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-5379000
CY2013Q4 us-gaap Increase Decrease In Other Deferred Liability
IncreaseDecreaseInOtherDeferredLiability
-16000
CY2013Q4 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
1770000
CY2013Q4 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
212400
CY2013Q4 us-gaap Interest Expense
InterestExpense
246000
CY2013Q4 us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
1145000
CY2013Q4 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
441400
CY2013Q4 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-19193000
CY2013Q4 us-gaap Debt Instrument Periodic Payment Principal
DebtInstrumentPeriodicPaymentPrincipal
312500
CY2013Q4 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
87600
CY2013Q4 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
843300
CY2013Q4 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
630900
CY2013Q4 us-gaap Operating Expenses
OperatingExpenses
4846000
CY2013Q4 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
18455
CY2013Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1372300
CY2013Q4 hnna Distribution Expense
DistributionExpense
573000
CY2013Q4 hnna Effective Income Tax Rate Reconciliation Permanent And Other Differences
EffectiveIncomeTaxRateReconciliationPermanentAndOtherDifferences
0.0065 pure
CY2013Q4 hnna Minimum Percentage Of Likelihood Of Indefinite Lived Intangible Assets Being Impaired
MinimumPercentageOfLikelihoodOfIndefiniteLivedIntangibleAssetsBeingImpaired
0.50 pure
CY2013Q4 hnna Effective Income Tax Rate Normal Percentage
EffectiveIncomeTaxRateNormalPercentage
0.40 pure
CY2013Q4 hnna Line Of Credit Facility Loan Cost
LineOfCreditFacilityLoanCost
376226
CY2013Q4 hnna Notice Period For Termination Of Agreement
NoticePeriodForTerminationOfAgreement
P60D
CY2013Q4 hnna Amortized Period Of Line Of Credit Facility Cost
AmortizedPeriodOfLineOfCreditFacilityCost
P60M
CY2013Q4 hnna Number Of Investment Fund
NumberOfInvestmentFund
16 Funds
CY2013Q4 hnna Maximum Aggregate Fair Market Value Of Options Granted To Individual
MaximumAggregateFairMarketValueOfOptionsGrantedToIndividual
100000
CY2013Q4 hnna Number Of Open End Mutual Funds
NumberOfOpenEndMutualFunds
16 Funds
CY2013Q4 hnna Weighted Average Vesting Period For Recognition Of Compensation Expenses
WeightedAverageVestingPeriodForRecognitionOfCompensationExpenses
P45M
CY2013Q4 hnna Share Based Compensation Arrangement By Share Based Payment Award Award Grant Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardGrantPeriod
P10Y
CY2013Q4 hnna Number Of Monthly Installments
NumberOfMonthlyInstallments
47 Installment
CY2013Q4 hnna Increase In Management Contracts Capitalized Transaction Costs
IncreaseInManagementContractsCapitalizedTransactionCosts
58232

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0001193125-14-028102-index-headers.html Edgar Link pending
0001193125-14-028102-index.html Edgar Link pending
0001193125-14-028102.txt Edgar Link pending
0001193125-14-028102-xbrl.zip Edgar Link pending
d597933d10q.htm Edgar Link pending
d597933dex311.htm Edgar Link pending
d597933dex312.htm Edgar Link pending
d597933dex321.htm Edgar Link pending
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hnna-20131231.xml Edgar Link completed
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hnna-20131231_cal.xml Edgar Link unprocessable
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hnna-20131231_lab.xml Edgar Link unprocessable
hnna-20131231_pre.xml Edgar Link unprocessable
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