$HNNA
HENNESSY ADVISORS INC

2018 Q3 Form 10-Q Financial Statement

#000119312518234952 Filed on August 01, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2018 Q2 2017 Q2
Revenue $13.20M $13.57M $13.18M
YoY Change -0.35% 2.95% 1.41%
Cost Of Revenue $2.620M $2.660M $2.280M
YoY Change 11.02% 16.67% 2.24%
Gross Profit $10.59M $10.91M $10.90M
YoY Change -2.67% 0.09% 1.21%
Gross Profit Margin 80.23% 80.42% 82.71%
Selling, General & Admin $4.870M $4.720M $4.540M
YoY Change -3.94% 3.96% -0.22%
% of Gross Profit 45.99% 43.26% 41.65%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $60.00K $62.00K $100.0K
YoY Change -200.0% -38.0% 11.11%
% of Gross Profit 0.57% 0.57% 0.92%
Operating Expenses $4.930M $7.440M $6.908M
YoY Change -34.48% 7.7% 0.67%
Operating Profit $5.660M $6.127M $6.270M
YoY Change -1.1% -2.28% 2.23%
Interest Expense -$310.0K $315.0K $281.0K
YoY Change -209.15% 12.1% 0.72%
% of Operating Profit -5.48% 5.14% 4.48%
Other Income/Expense, Net $70.00K $40.00K $3.000K
YoY Change 677.78% 1233.33% 200.0%
Pretax Income $5.410M $5.856M $5.992M
YoY Change -0.7% -2.27% 2.34%
Income Tax $1.960M $1.638M $2.032M
% Of Pretax Income 36.23% 27.97% 33.91%
Net Earnings $3.660M $4.218M $3.960M
YoY Change 8.99% 6.52% 1.69%
Net Earnings / Revenue 27.73% 31.09% 30.05%
Basic Earnings Per Share $0.54 $0.51
Diluted Earnings Per Share $462.7K $0.53 $0.51
COMMON SHARES
Basic Shares Outstanding 7.809M shares 7.808M 7.690M shares
Diluted Shares Outstanding 7.925M 7.788M shares

Balance Sheet

Concept 2018 Q3 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $25.40M $21.20M $12.30M
YoY Change 61.78% 72.36% 7.89%
Cash & Equivalents $25.40M $21.14M $12.33M
Short-Term Investments $0.00 $0.00 $0.00
Other Short-Term Assets $700.0K $600.0K $1.200M
YoY Change -56.25% -50.0% -20.0%
Inventory
Prepaid Expenses $668.0K $607.0K $627.0K
Receivables $4.259M $4.457M $4.360M
Other Receivables $413.0K $484.0K $500.0K
Total Short-Term Assets $30.74M $26.70M $18.48M
YoY Change 38.29% 44.45% 4.23%
LONG-TERM ASSETS
Property, Plant & Equipment $382.0K $365.0K $243.0K
YoY Change 50.39% 50.21% -14.74%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $191.0K $188.0K $133.0K
YoY Change 31.72% 41.35% -78.34%
Total Long-Term Assets $78.74M $78.59M $74.91M
YoY Change 4.94% 4.91% 17.2%
TOTAL ASSETS
Total Short-Term Assets $30.74M $26.70M $18.48M
Total Long-Term Assets $78.74M $78.59M $74.91M
Total Assets $109.5M $105.3M $93.40M
YoY Change 12.57% 12.73% 14.38%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.100M $5.800M $5.700M
YoY Change -4.05% 1.75% 5.56%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $4.228M $4.228M $4.228M
YoY Change 0.0% 0.0% -3.36%
Total Short-Term Liabilities $12.04M $10.66M $10.14M
YoY Change -3.4% 5.16% 3.44%
LONG-TERM LIABILITIES
Long-Term Debt $17.50M $18.56M $22.79M
YoY Change -19.46% -18.56% -16.67%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $17.50M $18.56M $22.79M
YoY Change -19.46% -18.56% -16.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $12.04M $10.66M $10.14M
Total Long-Term Liabilities $17.50M $18.56M $22.79M
Total Liabilities $38.50M $37.27M $44.70M
YoY Change -15.81% -16.62% -6.43%
SHAREHOLDERS EQUITY
Retained Earnings $54.20M $51.34M $33.87M
YoY Change 48.13% 51.6% 60.46%
Common Stock $16.78M $16.67M $14.82M
YoY Change 12.31% 12.47% 16.1%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $70.98M $68.02M $48.69M
YoY Change
Total Liabilities & Shareholders Equity $109.5M $105.3M $93.40M
YoY Change 12.57% 12.73% 14.38%

Cashflow Statement

Concept 2018 Q3 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income $3.660M $4.218M $3.960M
YoY Change 8.99% 6.52% 1.69%
Depreciation, Depletion And Amortization $60.00K $62.00K $100.0K
YoY Change -200.0% -38.0% 11.11%
Cash From Operating Activities $6.870M $6.420M $5.940M
YoY Change 18.45% 8.08% 8.2%
INVESTING ACTIVITIES
Capital Expenditures -$210.0K -$80.00K -$90.00K
YoY Change 23.53% -11.11% 12.5%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$210.0K -$80.00K -$90.00K
YoY Change 23.53% -11.11% 12.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -2.410M -1.850M -1.620M
YoY Change 6.64% 14.2% 8.72%
NET CHANGE
Cash From Operating Activities 6.870M 6.420M 5.940M
Cash From Investing Activities -210.0K -80.00K -90.00K
Cash From Financing Activities -2.410M -1.850M -1.620M
Net Change In Cash 4.250M 4.490M 4.230M
YoY Change 26.11% 6.15% 7.91%
FREE CASH FLOW
Cash From Operating Activities $6.870M $6.420M $5.940M
Capital Expenditures -$210.0K -$80.00K -$90.00K
Free Cash Flow $7.080M $6.500M $6.030M
YoY Change 18.59% 7.79% 8.26%

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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7883733 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7804733 shares
hnna Distribution Expense
DistributionExpense
383000
hnna Stock Issued During Period Value Auto Investments Pursuant To Dividend Reinvestment And Stock Purchase Plan
StockIssuedDuringPeriodValueAutoInvestmentsPursuantToDividendReinvestmentAndStockPurchasePlan
13000
hnna Depreciation And Amortization Expense
DepreciationAndAmortizationExpense
276000
hnna Amortization Of Debt Issuance Costs
AmortizationOfDebtIssuanceCosts
-110000
hnna Number Of Open End Mutual Funds
NumberOfOpenEndMutualFunds
14 Funds
hnna Notice Period For Termination Of Agreement
NoticePeriodForTerminationOfAgreement
P60D
CY2017Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
3000
CY2017Q2 us-gaap Revenues
Revenues
13178000
CY2017Q2 us-gaap Subadvisory Fees For Mutual Funds
SubadvisoryFeesForMutualFunds
2281000
CY2017Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7788456 shares
hnna Employee Restricted Stock Forfeiture
EmployeeRestrictedStockForfeiture
51000
CY2017 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0
CY2017Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
91000
CY2017Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.339 pure
CY2017Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.51
CY2017Q2 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
3124000
CY2017Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.51
CY2017Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1332000
CY2017Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5992000
CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2032000
CY2017Q2 us-gaap Interest Expense
InterestExpense
281000
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
3960000
CY2017Q2 us-gaap Operating Expenses
OperatingExpenses
6908000
CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
6270000
CY2017Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7690443 shares
CY2017Q2 hnna Distribution Expense
DistributionExpense
80000
CY2018Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
98000
CY2018Q2 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.280 pure
CY2018Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.53
CY2018Q2 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
3219000
CY2018Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.54
CY2018Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1357000
CY2018Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5856000
CY2018Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1638000
CY2018Q2 us-gaap Interest Expense
InterestExpense
279000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
4218000
CY2018Q2 us-gaap Operating Expenses
OperatingExpenses
7476000
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
6091000
CY2018Q2 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
100000
CY2018Q2 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
44000
CY2018Q2 us-gaap Revenues
Revenues
13567000
CY2018Q2 us-gaap Subadvisory Fees For Mutual Funds
SubadvisoryFeesForMutualFunds
2662000
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7924510 shares
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7807972 shares
CY2018Q2 hnna Distribution Expense
DistributionExpense
140000
CY2017Q4 hnna Increase Decrease In Income Tax Expense
IncreaseDecreaseInIncomeTaxExpense
-4000000

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