$HNNA
HENNESSY ADVISORS INC

2017 Q1 Form 10-Q Financial Statement

#000119312517151859 Filed on May 01, 2017

View on sec.gov

Income Statement

Concept 2017 Q1 2016 Q1
Revenue $13.24M $12.19M
YoY Change 8.56% 15.48%
Cost Of Revenue $2.290M $2.050M
YoY Change 11.71% 17.82%
Gross Profit $10.94M $10.14M
YoY Change 7.89% 14.97%
Gross Profit Margin 82.65% 83.17%
Selling, General & Admin $4.740M $4.600M
YoY Change 3.04% 6.24%
% of Gross Profit 43.33% 45.36%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $90.00K $90.00K
YoY Change 0.0% 50.0%
% of Gross Profit 0.82% 0.89%
Operating Expenses $7.125M $6.740M
YoY Change 5.71% 9.81%
Operating Profit $6.111M $5.452M
YoY Change 12.09% 23.35%
Interest Expense $278.0K $309.0K
YoY Change -10.03% 23.6%
% of Operating Profit 4.55% 5.67%
Other Income/Expense, Net $1.000K
YoY Change 0.0%
Pretax Income $5.833M $5.144M
YoY Change 13.39% 23.33%
Income Tax $2.205M $1.861M
% Of Pretax Income 37.8% 36.18%
Net Earnings $3.628M $3.283M
YoY Change 10.51% 26.56%
Net Earnings / Revenue 27.41% 26.93%
Basic Earnings Per Share $0.47 $0.43
Diluted Earnings Per Share $0.47 $0.43
COMMON SHARES
Basic Shares Outstanding 7.689M shares 7.598M shares
Diluted Shares Outstanding 7.774M shares 7.694M shares

Balance Sheet

Concept 2017 Q1 2016 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.100M $7.500M
YoY Change 8.0% -18.48%
Cash & Equivalents $8.099M $7.496M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $1.200M $1.500M
YoY Change -20.0% 114.29%
Inventory
Prepaid Expenses $555.0K $807.0K
Receivables $4.560M $4.314M
Other Receivables $500.0K $500.0K
Total Short-Term Assets $14.37M $13.83M
YoY Change 3.86% -2.06%
LONG-TERM ASSETS
Property, Plant & Equipment $253.0K $316.0K
YoY Change -19.94% 58.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $134.0K $650.0K
YoY Change -79.38% 80.06%
Total Long-Term Assets $74.88M $63.93M
YoY Change 17.12% 1.38%
TOTAL ASSETS
Total Short-Term Assets $14.37M $13.83M
Total Long-Term Assets $74.88M $63.93M
Total Assets $89.24M $77.76M
YoY Change 14.77% 0.75%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.600M $4.200M
YoY Change 9.52% 31.25%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $4.228M $4.375M
YoY Change -3.36% 16.67%
Total Short-Term Liabilities $8.902M $8.616M
YoY Change 3.32% 21.49%
LONG-TERM LIABILITIES
Long-Term Debt $23.84M $28.44M
YoY Change -16.16% 34.8%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $23.84M $28.44M
YoY Change -16.16% 34.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.902M $8.616M
Total Long-Term Liabilities $23.84M $28.44M
Total Liabilities $44.47M $47.73M
YoY Change -6.83% 34.78%
SHAREHOLDERS EQUITY
Retained Earnings $30.49M $17.62M
YoY Change 73.02% -42.31%
Common Stock $14.29M $12.41M
YoY Change 15.11% 10.52%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $44.77M $30.03M
YoY Change
Total Liabilities & Shareholders Equity $89.24M $77.76M
YoY Change 14.77% 0.75%

Cashflow Statement

Concept 2017 Q1 2016 Q1
OPERATING ACTIVITIES
Net Income $3.628M $3.283M
YoY Change 10.51% 26.56%
Depreciation, Depletion And Amortization $90.00K $90.00K
YoY Change 0.0% 50.0%
Cash From Operating Activities $5.860M $4.890M
YoY Change 19.84% 102.07%
INVESTING ACTIVITIES
Capital Expenditures -$110.0K -$50.00K
YoY Change 120.0% 150.0%
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change -100.0%
Cash From Investing Activities -$110.0K -$40.00K
YoY Change 175.0% 33.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.760M -1.490M
YoY Change 18.12% 14.62%
NET CHANGE
Cash From Operating Activities 5.860M 4.890M
Cash From Investing Activities -110.0K -40.00K
Cash From Financing Activities -1.760M -1.490M
Net Change In Cash 3.990M 3.360M
YoY Change 18.75% 208.26%
FREE CASH FLOW
Cash From Operating Activities $5.860M $4.890M
Capital Expenditures -$110.0K -$50.00K
Free Cash Flow $5.970M $4.940M
YoY Change 20.85% 102.46%

Facts In Submission

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7693611 shares
CY2016Q1 us-gaap Servicing Fees
ServicingFees
1201000
CY2016Q1 us-gaap Subadvisory Fees For Mutual Funds
SubadvisoryFeesForMutualFunds
2054000
CY2016Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7598415 shares
CY2016Q1 hnna Distribution Expense
DistributionExpense
301000
CY2016Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1405000
CY2016Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.43
CY2016Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
89000
CY2016Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.43
CY2016Q1 us-gaap Revenues
Revenues
12192000
CY2016Q1 us-gaap Operating Expenses
OperatingExpenses
6740000
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
3283000
CY2016Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5144000
CY2016Q1 us-gaap Interest Expense
InterestExpense
309000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4111000
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
7678000
us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
-11000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
100000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7687742 shares
us-gaap Servicing Fees
ServicingFees
2531000
us-gaap Subadvisory Fees For Mutual Funds
SubadvisoryFeesForMutualFunds
4204000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7596707 shares
us-gaap Share Based Compensation
ShareBasedCompensation
700000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
2187000
hnna Payments For Deferred Offering Costs
PaymentsForDeferredOfferingCosts
1000
hnna Restricted Stock Units Repurchased For Employee Tax Withholding
RestrictedStockUnitsRepurchasedForEmployeeTaxWithholding
98000
hnna Tax Expense Benefit From Restricted Stock Unit
TaxExpenseBenefitFromRestrictedStockUnit
95000
hnna Distribution Expense
DistributionExpense
451000
CY2016 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0
CY2017Q1 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
3275000
CY2017Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1395000
CY2017Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.47
CY2017Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
91000
CY2017Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.47
CY2017Q1 us-gaap Revenues
Revenues
13236000
CY2017Q1 us-gaap Operating Expenses
OperatingExpenses
7125000
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
3628000
CY2017Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5833000
CY2017Q1 us-gaap Interest Expense
InterestExpense
278000
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
6111000
CY2017Q1 us-gaap Investment Advisory Fees
InvestmentAdvisoryFees
12063000
CY2017Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2205000
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7773622 shares

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