$HNNA
HENNESSY ADVISORS INC

2018 Q1 Form 10-Q Financial Statement

#000119312518148696 Filed on May 02, 2018

View on sec.gov

Income Statement

Concept 2018 Q1 2017 Q1
Revenue $14.01M $13.24M
YoY Change 5.82% 8.56%
Cost Of Revenue $2.650M $2.290M
YoY Change 15.72% 11.71%
Gross Profit $11.36M $10.94M
YoY Change 3.84% 7.89%
Gross Profit Margin 81.11% 82.65%
Selling, General & Admin $5.040M $4.740M
YoY Change 6.33% 3.04%
% of Gross Profit 44.37% 43.33%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $58.00K $90.00K
YoY Change -35.56% 0.0%
% of Gross Profit 0.51% 0.82%
Operating Expenses $7.746M $7.125M
YoY Change 8.72% 5.71%
Operating Profit $6.260M $6.111M
YoY Change 2.44% 12.09%
Interest Expense $303.0K $278.0K
YoY Change 8.99% -10.03%
% of Operating Profit 4.84% 4.55%
Other Income/Expense, Net $20.00K
YoY Change
Pretax Income $5.979M $5.833M
YoY Change 2.5% 13.39%
Income Tax $1.424M $2.205M
% Of Pretax Income 23.82% 37.8%
Net Earnings $4.555M $3.628M
YoY Change 25.55% 10.51%
Net Earnings / Revenue 32.52% 27.41%
Basic Earnings Per Share $0.58 $0.47
Diluted Earnings Per Share $0.58 $0.47
COMMON SHARES
Basic Shares Outstanding 7.806M shares 7.689M shares
Diluted Shares Outstanding 7.886M shares 7.774M shares

Balance Sheet

Concept 2018 Q1 2017 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $16.70M $8.100M
YoY Change 106.17% 8.0%
Cash & Equivalents $16.65M $8.099M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $500.0K $1.200M
YoY Change -58.33% -20.0%
Inventory
Prepaid Expenses $478.0K $555.0K
Receivables $4.712M $4.560M
Other Receivables $486.0K $500.0K
Total Short-Term Assets $22.33M $14.37M
YoY Change 55.45% 3.86%
LONG-TERM ASSETS
Property, Plant & Equipment $369.0K $253.0K
YoY Change 45.85% -19.94%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $188.0K $134.0K
YoY Change 40.3% -79.38%
Total Long-Term Assets $78.58M $74.88M
YoY Change 4.94% 17.12%
TOTAL ASSETS
Total Short-Term Assets $22.33M $14.37M
Total Long-Term Assets $78.58M $74.88M
Total Assets $100.9M $89.24M
YoY Change 13.07% 14.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.500M $4.600M
YoY Change -2.17% 9.52%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $4.228M $4.228M
YoY Change 0.0% -3.36%
Total Short-Term Liabilities $9.570M $8.902M
YoY Change 7.5% 3.32%
LONG-TERM LIABILITIES
Long-Term Debt $19.61M $23.84M
YoY Change -17.74% -16.16%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $19.61M $23.84M
YoY Change -17.74% -16.16%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.570M $8.902M
Total Long-Term Liabilities $19.61M $23.84M
Total Liabilities $36.88M $44.47M
YoY Change -17.08% -6.83%
SHAREHOLDERS EQUITY
Retained Earnings $47.91M $30.49M
YoY Change 57.15% 73.02%
Common Stock $16.13M $14.29M
YoY Change 12.87% 15.11%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $64.03M $44.77M
YoY Change
Total Liabilities & Shareholders Equity $100.9M $89.24M
YoY Change 13.07% 14.77%

Cashflow Statement

Concept 2018 Q1 2017 Q1
OPERATING ACTIVITIES
Net Income $4.555M $3.628M
YoY Change 25.55% 10.51%
Depreciation, Depletion And Amortization $58.00K $90.00K
YoY Change -35.56% 0.0%
Cash From Operating Activities $5.840M $5.860M
YoY Change -0.34% 19.84%
INVESTING ACTIVITIES
Capital Expenditures -$2.490M -$110.0K
YoY Change 2163.64% 120.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$2.490M -$110.0K
YoY Change 2163.64% 175.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.890M -1.760M
YoY Change 7.39% 18.12%
NET CHANGE
Cash From Operating Activities 5.840M 5.860M
Cash From Investing Activities -2.490M -110.0K
Cash From Financing Activities -1.890M -1.760M
Net Change In Cash 1.460M 3.990M
YoY Change -63.41% 18.75%
FREE CASH FLOW
Cash From Operating Activities $5.840M $5.860M
Capital Expenditures -$2.490M -$110.0K
Free Cash Flow $8.330M $5.970M
YoY Change 39.53% 20.85%

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CY2017Q1 us-gaap Interest Expense
InterestExpense
278000
CY2017Q1 us-gaap Investment Advisory Fees
InvestmentAdvisoryFees
12063000
CY2017Q1 us-gaap Operating Expenses
OperatingExpenses
7125000
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
3628000
CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
6111000
CY2017Q1 us-gaap Revenues
Revenues
13236000
CY2017Q1 us-gaap Servicing Fees
ServicingFees
1173000
CY2017Q1 us-gaap Subadvisory Fees For Mutual Funds
SubadvisoryFeesForMutualFunds
2292000
CY2017Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7773622 shares
CY2017Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7688994 shares
CY2017Q1 hnna Distribution Expense
DistributionExpense
72000
CY2018Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
95000
CY2018Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.238 pure
CY2018Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.58
CY2018Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.58
CY2018Q1 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
3487000
CY2018Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1430000
CY2018Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5979000
CY2018Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1424000
CY2018Q1 us-gaap Interest Expense
InterestExpense
266000
CY2018Q1 us-gaap Investment Advisory Fees
InvestmentAdvisoryFees
12893000
CY2018Q1 us-gaap Operating Expenses
OperatingExpenses
7783000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
4555000
CY2018Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
6223000
CY2018Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
22000
CY2018Q1 us-gaap Revenues
Revenues
14006000
CY2018Q1 us-gaap Servicing Fees
ServicingFees
1113000
CY2018Q1 us-gaap Subadvisory Fees For Mutual Funds
SubadvisoryFeesForMutualFunds
2648000
CY2018Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7886380 shares
CY2018Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7805880 shares
CY2018Q1 hnna Distribution Expense
DistributionExpense
123000
CY2017Q4 hnna Increase Decrease In Income Tax Expense
IncreaseDecreaseInIncomeTaxExpense
-4000000

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