$HNNA
HENNESSY ADVISORS INC

2015 Q1 Form 10-Q Financial Statement

#000119312515172007 Filed on May 05, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2014 Q3 2014 Q1
Revenue $10.56M $9.510M $8.310M
YoY Change 27.05% 33.01% 39.73%
Cost Of Revenue $1.740M $1.560M $1.460M
YoY Change 19.18% 26.83% 53.68%
Gross Profit $8.820M $7.950M $6.850M
YoY Change 28.76% 34.06% 37.0%
Gross Profit Margin 83.54% 83.6% 82.43%
Selling, General & Admin $4.330M $3.710M $3.610M
YoY Change 19.94% 20.85% 24.48%
% of Gross Profit 49.09% 46.67% 52.7%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $60.00K $60.00K $60.00K
YoY Change 0.0% 0.0% 50.0%
% of Gross Profit 0.68% 0.75% 0.88%
Operating Expenses $6.138M $3.770M $5.131M
YoY Change 19.63% 20.83% 31.77%
Operating Profit $4.420M $4.180M $3.179M
YoY Change 39.04% 48.75% 54.85%
Interest Expense $250.0K -$270.0K $286.0K
YoY Change -12.59% 58.82% 59.78%
% of Operating Profit 5.66% -6.46% 9.0%
Other Income/Expense, Net $1.000K $0.00 $1.000K
YoY Change 0.0% 0.0%
Pretax Income $4.171M $3.910M $2.894M
YoY Change 44.13% 48.67% 54.35%
Income Tax $1.577M $1.500M $1.135M
% Of Pretax Income 37.81% 38.36% 39.22%
Net Earnings $2.594M $2.410M $1.759M
YoY Change 47.47% 53.5% 57.48%
Net Earnings / Revenue 24.57% 25.34% 21.17%
Basic Earnings Per Share $0.45 $0.31
Diluted Earnings Per Share $0.44 $270.5K $0.30
COMMON SHARES
Basic Shares Outstanding 5.776M shares 6.000M shares 5.725M shares
Diluted Shares Outstanding 5.863M shares 5.805M shares

Balance Sheet

Concept 2015 Q1 2014 Q3 2014 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.200M $7.700M $4.100M
YoY Change 124.39% -8.33% -33.87%
Cash & Equivalents $9.197M $7.645M $4.101M
Short-Term Investments $0.00 $0.00 $0.00
Other Short-Term Assets $700.0K $444.0K $300.0K
YoY Change 133.33% 1.83% -66.67%
Inventory
Prepaid Expenses $371.0K $601.0K $245.0K
Receivables $3.948M $3.142M $2.928M
Other Receivables $300.0K $500.0K $400.0K
Total Short-Term Assets $14.12M $12.18M $7.830M
YoY Change 80.36% 4.27% -16.7%
LONG-TERM ASSETS
Property, Plant & Equipment $200.0K $240.0K $250.0K
YoY Change -20.0% -6.98% 25.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $361.0K $405.0K $433.0K
YoY Change -16.63% 11.57% 116.5%
Total Long-Term Assets $63.06M $63.13M $63.17M
YoY Change -0.17% 0.13% 46.91%
TOTAL ASSETS
Total Short-Term Assets $14.12M $12.18M $7.830M
Total Long-Term Assets $63.06M $63.13M $63.17M
Total Assets $77.18M $75.32M $71.00M
YoY Change 8.71% 0.78% 35.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.200M $3.500M $2.900M
YoY Change 10.34% 12.9% 31.82%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.750M $3.750M $3.750M
YoY Change 0.0% 103.8% 108.33%
Total Short-Term Liabilities $7.092M $7.430M $6.685M
YoY Change 6.09% -40.41% 63.05%
LONG-TERM LIABILITIES
Long-Term Debt $21.10M $22.97M $24.85M
YoY Change -15.09% 52.87% 56.27%
Other Long-Term Liabilities $0.00 $0.00
YoY Change -100.0%
Total Long-Term Liabilities $21.10M $22.97M $24.85M
YoY Change -15.09% 52.87% 56.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $7.092M $7.430M $6.685M
Total Long-Term Liabilities $21.10M $22.97M $24.85M
Total Liabilities $35.41M $37.90M $38.23M
YoY Change -7.36% -15.68% 51.69%
SHAREHOLDERS EQUITY
Retained Earnings $30.54M $26.56M $22.64M
YoY Change 34.93% 33.89%
Common Stock $11.23M $10.85M $10.14M
YoY Change 10.75% 9.09%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $41.80M $37.41M $32.80M
YoY Change
Total Liabilities & Shareholders Equity $77.18M $75.32M $71.00M
YoY Change 8.71% 0.78% 35.5%

Cashflow Statement

Concept 2015 Q1 2014 Q3 2014 Q1
OPERATING ACTIVITIES
Net Income $2.594M $2.410M $1.759M
YoY Change 47.47% 53.5% 57.48%
Depreciation, Depletion And Amortization $60.00K $60.00K $60.00K
YoY Change 0.0% 0.0% 50.0%
Cash From Operating Activities $2.420M $3.330M $2.210M
YoY Change 9.5% 43.53% 12.76%
INVESTING ACTIVITIES
Capital Expenditures -$20.00K -$60.00K -$30.00K
YoY Change -33.33% -25.0% -70.0%
Acquisitions
YoY Change
Other Investing Activities -$10.00K $0.00 $0.00
YoY Change
Cash From Investing Activities -$30.00K -$60.00K -$30.00K
YoY Change 0.0% -25.0% -70.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.300M -2.120M -1.100M
YoY Change 18.18% 259.32% 71.87%
NET CHANGE
Cash From Operating Activities 2.420M 3.330M 2.210M
Cash From Investing Activities -30.00K -60.00K -30.00K
Cash From Financing Activities -1.300M -2.120M -1.100M
Net Change In Cash 1.090M 1.150M 1.080M
YoY Change 0.93% -30.3% -11.48%
FREE CASH FLOW
Cash From Operating Activities $2.420M $3.330M $2.210M
Capital Expenditures -$20.00K -$60.00K -$30.00K
Free Cash Flow $2.440M $3.390M $2.240M
YoY Change 8.93% 41.25% 8.74%

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NumberOfOpenEndMutualFunds
16 Funds
hnna Weighted Average Vesting Period For Recognition Of Compensation Expenses
WeightedAverageVestingPeriodForRecognitionOfCompensationExpenses
P3Y1M6D
hnna Notice Period For Termination Of Agreement
NoticePeriodForTerminationOfAgreement
P60D
hnna Distribution Expense
DistributionExpense
1620000
hnna Payments For Deferred Offering Costs
PaymentsForDeferredOfferingCosts
12000
CY2014Q1 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
1877000
CY2014Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1135000
CY2014Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
60000
CY2014Q1 us-gaap Servicing Fees
ServicingFees
227000
CY2014Q1 us-gaap Revenues
Revenues
8310000
CY2014Q1 us-gaap Net Income Loss
NetIncomeLoss
1759000
CY2014Q1 us-gaap Interest Expense
InterestExpense
286000
CY2014Q1 us-gaap Operating Expenses
OperatingExpenses
5131000
CY2014Q1 us-gaap Subadvisory Fees For Mutual Funds
SubadvisoryFeesForMutualFunds
1464000
CY2014Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1207000
CY2014Q1 hnna Distribution Expense
DistributionExpense
523000
CY2015Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.44
CY2015Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5862559 shares
CY2015Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.45
CY2015Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5776165 shares
CY2015Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
4420000
CY2015Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
4171000
CY2015Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1000
hnna Amortized Period Of Line Of Credit Facility Cost
AmortizedPeriodOfLineOfCreditFacilityCost
P60M
CY2014Q4 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2014-11-14
CY2014Q1 hnna Initial Management Agreement Renewal Period
InitialManagementAgreementRenewalPeriod
P1Y
CY2014Q1 hnna Initial Period Of Management Agreements
InitialPeriodOfManagementAgreements
P2Y
CY2015Q1 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2015-02-13
CY2014Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.30
CY2014Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5805340 shares
CY2014Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.31
CY2014Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5724821 shares
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
3179000
CY2014Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
2894000
CY2014Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1000
CY2014Q1 us-gaap Investment Advisory Fees
InvestmentAdvisoryFees
8083000
CY2015Q1 us-gaap Investment Advisory Fees
InvestmentAdvisoryFees
9926000
CY2015Q1 us-gaap Servicing Fees
ServicingFees
632000
CY2015Q1 us-gaap Revenues
Revenues
10558000
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
2594000
CY2015Q1 us-gaap Interest Expense
InterestExpense
250000
CY2015Q1 us-gaap Operating Expenses
OperatingExpenses
6138000
CY2015Q1 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
2310000
CY2015Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1577000
CY2015Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
65000
CY2015Q1 us-gaap Subadvisory Fees For Mutual Funds
SubadvisoryFeesForMutualFunds
1739000
CY2015Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1266000
CY2015Q1 hnna Distribution Expense
DistributionExpense
758000

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