$HNNA
HENNESSY ADVISORS INC

2015 Q3 Form 10-Q Financial Statement

#000119312515274847 Filed on August 03, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2015 Q2 2014 Q2
Revenue $12.48M $11.97M $8.784M
YoY Change 31.23% 36.25% 35.01%
Cost Of Revenue $2.030M $1.920M $1.490M
YoY Change 30.13% 28.86% 40.57%
Gross Profit $10.45M $10.05M $7.290M
YoY Change 31.45% 37.86% 33.76%
Gross Profit Margin 83.73% 83.97% 82.99%
Selling, General & Admin $4.430M $4.300M $3.520M
YoY Change 19.41% 22.16% 20.14%
% of Gross Profit 42.39% 42.79% 48.29%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $70.00K $70.00K $60.00K
YoY Change 16.67% 16.67% 20.0%
% of Gross Profit 0.67% 0.7% 0.82%
Operating Expenses $4.500M $6.289M $5.071M
YoY Change 19.36% 24.02% 25.83%
Operating Profit $5.950M $5.679M $3.713M
YoY Change 42.34% 52.95% 49.96%
Interest Expense -$260.0K $242.0K $280.0K
YoY Change -3.7% -13.57% 58.19%
% of Operating Profit -4.37% 4.26% 7.54%
Other Income/Expense, Net $0.00 $0.00 $1.000K
YoY Change -100.0%
Pretax Income $5.700M $5.437M $3.434M
YoY Change 45.78% 58.33% 49.37%
Income Tax $2.270M $2.134M $1.389M
% Of Pretax Income 39.82% 39.25% 40.45%
Net Earnings $3.430M $3.303M $2.045M
YoY Change 42.32% 61.52% 49.27%
Net Earnings / Revenue 27.48% 27.6% 23.28%
Basic Earnings Per Share $0.57 $0.35
Diluted Earnings Per Share $383.2K $0.56 $0.35
COMMON SHARES
Basic Shares Outstanding 6.025M shares 5.776M shares 5.766M shares
Diluted Shares Outstanding 5.855M shares 5.822M shares

Balance Sheet

Concept 2015 Q3 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.100M $13.90M $6.500M
YoY Change -59.74% 113.85% -4.41%
Cash & Equivalents $3.086M $13.87M $6.498M
Short-Term Investments $0.00 $0.00 $0.00
Other Short-Term Assets $535.0K $1.500M $400.0K
YoY Change 20.5% 275.0% -60.0%
Inventory
Prepaid Expenses $1.049M $1.200M $182.0K
Receivables $4.052M $3.962M $2.994M
Other Receivables $500.0K $300.0K $400.0K
Total Short-Term Assets $9.412M $19.66M $10.36M
YoY Change -22.73% 89.86% 0.23%
LONG-TERM ASSETS
Property, Plant & Equipment $319.0K $222.0K $218.0K
YoY Change 32.92% 1.83% -12.45%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $709.0K $340.0K $637.0K
YoY Change 75.06% -46.62% 91.29%
Total Long-Term Assets $63.72M $63.10M $63.34M
YoY Change 0.93% -0.39% 44.65%
TOTAL ASSETS
Total Short-Term Assets $9.412M $19.66M $10.36M
Total Long-Term Assets $63.72M $63.10M $63.34M
Total Assets $73.13M $82.76M $73.70M
YoY Change -2.9% 12.3% 36.17%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.700M $4.400M $3.800M
YoY Change 34.29% 15.79% 31.03%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $4.375M $3.750M $3.750M
YoY Change 16.67% 0.0% 103.8%
Total Short-Term Liabilities $10.27M $9.191M $7.572M
YoY Change 38.16% 21.38% 58.88%
LONG-TERM LIABILITIES
Long-Term Debt $30.63M $20.16M $23.91M
YoY Change 33.31% -15.68% 54.38%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $30.63M $20.16M $23.91M
YoY Change 33.31% -15.68% 54.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $10.27M $9.191M $7.572M
Total Long-Term Liabilities $30.63M $20.16M $23.91M
Total Liabilities $50.04M $37.88M $38.58M
YoY Change 32.02% -1.8% 49.66%
SHAREHOLDERS EQUITY
Retained Earnings $11.44M $33.48M $24.44M
YoY Change -56.93% 36.99% 32.41%
Common Stock $11.65M $11.40M $10.68M
YoY Change 7.39% 6.7% 8.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $23.10M $44.88M $35.10M
YoY Change
Total Liabilities & Shareholders Equity $73.13M $82.76M $73.70M
YoY Change -2.9% 12.3% 36.17%

Cashflow Statement

Concept 2015 Q3 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $3.430M $3.303M $2.045M
YoY Change 42.32% 61.52% 49.27%
Depreciation, Depletion And Amortization $70.00K $70.00K $60.00K
YoY Change 16.67% 16.67% 20.0%
Cash From Operating Activities $4.220M $6.070M $2.390M
YoY Change 26.73% 153.97% 19.5%
INVESTING ACTIVITIES
Capital Expenditures -$300.0K -$100.0K -$10.00K
YoY Change 400.0% 900.0% -98.65%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities -$290.0K -$100.0K -$10.00K
YoY Change 383.33% 900.0% -98.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -14.71M -1.300M 10.00K
YoY Change 593.87% -13100.0% -101.56%
NET CHANGE
Cash From Operating Activities 4.220M 6.070M 2.390M
Cash From Investing Activities -290.0K -100.0K -10.00K
Cash From Financing Activities -14.71M -1.300M 10.00K
Net Change In Cash -10.78M 4.670M 2.390M
YoY Change -1037.39% 95.4% 291.8%
FREE CASH FLOW
Cash From Operating Activities $4.220M $6.070M $2.390M
Capital Expenditures -$300.0K -$100.0K -$10.00K
Free Cash Flow $4.520M $6.170M $2.400M
YoY Change 33.33% 157.08% -12.41%

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ServicingFees
1346000
CY2015Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5437000
hnna Payments For Deferred Offering Costs
PaymentsForDeferredOfferingCosts
12000
hnna Number Of Open End Mutual Funds
NumberOfOpenEndMutualFunds
16 Funds
hnna Notice Period For Termination Of Agreement
NoticePeriodForTerminationOfAgreement
P60D
hnna Restricted Stock Units Repurchased For Employee Tax Withholding
RestrictedStockUnitsRepurchasedForEmployeeTaxWithholding
34000
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.35
CY2014Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5821722 shares
CY2014Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5766376 shares
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.35
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
2045000
CY2014Q2 us-gaap Revenues
Revenues
8784000
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
3713000
CY2014Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1000
CY2014Q2 us-gaap Servicing Fees
ServicingFees
234000
CY2014Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3434000
CY2014Q2 us-gaap Investment Advisory Fees
InvestmentAdvisoryFees
8550000
CY2014Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1389000
CY2014Q2 us-gaap Subadvisory Fees For Mutual Funds
SubadvisoryFeesForMutualFunds
1492000
CY2014Q2 us-gaap Operating Expenses
OperatingExpenses
5071000
CY2014Q2 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
1814000
CY2014Q2 us-gaap Interest Expense
InterestExpense
280000
CY2014Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1085000
CY2014Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
61000
CY2014Q2 hnna Distribution Expense
DistributionExpense
619000
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.56
CY2015Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5855397 shares
CY2015Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5776116 shares
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.57
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
3303000
CY2015Q2 us-gaap Operating Expenses
OperatingExpenses
6289000
CY2015Q2 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
2628000
CY2015Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1191000
CY2015Q2 hnna Distribution Expense
DistributionExpense
480000

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