$HNNA
HENNESSY ADVISORS INC

2019 Q1 Form 10-Q Financial Statement

#000119312519139677 Filed on May 07, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1
Revenue $10.46M $14.01M
YoY Change -25.35% 5.82%
Cost Of Revenue $2.250M $2.650M
YoY Change -15.09% 15.72%
Gross Profit $8.210M $11.36M
YoY Change -27.73% 3.84%
Gross Profit Margin 78.52% 81.11%
Selling, General & Admin $4.190M $5.040M
YoY Change -16.87% 6.33%
% of Gross Profit 51.04% 44.37%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $54.00K $58.00K
YoY Change -6.9% -35.56%
% of Gross Profit 0.66% 0.51%
Operating Expenses $6.498M $7.746M
YoY Change -16.11% 8.72%
Operating Profit $3.958M $6.260M
YoY Change -36.77% 2.44%
Interest Expense $299.0K $303.0K
YoY Change -1.32% 8.99%
% of Operating Profit 7.55% 4.84%
Other Income/Expense, Net $80.00K $20.00K
YoY Change 300.0%
Pretax Income $3.743M $5.979M
YoY Change -37.4% 2.5%
Income Tax $843.0K $1.424M
% Of Pretax Income 22.52% 23.82%
Net Earnings $2.900M $4.555M
YoY Change -36.33% 25.55%
Net Earnings / Revenue 27.74% 32.52%
Basic Earnings Per Share $0.37 $0.58
Diluted Earnings Per Share $0.37 $0.58
COMMON SHARES
Basic Shares Outstanding 7.918M 7.806M shares
Diluted Shares Outstanding 7.922M 7.886M shares

Balance Sheet

Concept 2019 Q1 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $25.10M $16.70M
YoY Change 50.3% 106.17%
Cash & Equivalents $25.07M $16.65M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $500.0K $500.0K
YoY Change 0.0% -58.33%
Inventory
Prepaid Expenses $475.0K $478.0K
Receivables $3.601M $4.712M
Other Receivables $490.0K $486.0K
Total Short-Term Assets $29.65M $22.33M
YoY Change 32.77% 55.45%
LONG-TERM ASSETS
Property, Plant & Equipment $361.0K $369.0K
YoY Change -2.17% 45.85%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $192.0K $188.0K
YoY Change 2.13% 40.3%
Total Long-Term Assets $80.49M $78.58M
YoY Change 2.43% 4.94%
TOTAL ASSETS
Total Short-Term Assets $29.65M $22.33M
Total Long-Term Assets $80.49M $78.58M
Total Assets $110.1M $100.9M
YoY Change 9.14% 13.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.800M $4.500M
YoY Change -15.56% -2.17%
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% 0.0%
Total Short-Term Liabilities $8.482M $9.570M
YoY Change -11.37% 7.5%
LONG-TERM LIABILITIES
Long-Term Debt $15.39M $19.61M
YoY Change -21.56% -17.74%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $15.39M $19.61M
YoY Change -21.56% -17.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.482M $9.570M
Total Long-Term Liabilities $15.39M $19.61M
Total Liabilities $33.82M $36.88M
YoY Change -8.3% -17.08%
SHAREHOLDERS EQUITY
Retained Earnings $58.42M $47.91M
YoY Change 21.94% 57.15%
Common Stock $17.90M $16.13M
YoY Change 11.01% 12.87%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $76.32M $64.03M
YoY Change
Total Liabilities & Shareholders Equity $110.1M $100.9M
YoY Change 9.14% 13.07%

Cashflow Statement

Concept 2019 Q1 2018 Q1
OPERATING ACTIVITIES
Net Income $2.900M $4.555M
YoY Change -36.33% 25.55%
Depreciation, Depletion And Amortization $54.00K $58.00K
YoY Change -6.9% -35.56%
Cash From Operating Activities $3.630M $5.840M
YoY Change -37.84% -0.34%
INVESTING ACTIVITIES
Capital Expenditures -$60.00K -$2.490M
YoY Change -97.59% 2163.64%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$60.00K -$2.490M
YoY Change -97.59% 2163.64%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.950M -1.890M
YoY Change 3.17% 7.39%
NET CHANGE
Cash From Operating Activities 3.630M 5.840M
Cash From Investing Activities -60.00K -2.490M
Cash From Financing Activities -1.950M -1.890M
Net Change In Cash 1.620M 1.460M
YoY Change 10.96% -63.41%
FREE CASH FLOW
Cash From Operating Activities $3.630M $5.840M
Capital Expenditures -$60.00K -$2.490M
Free Cash Flow $3.690M $8.330M
YoY Change -55.7% 39.53%

Facts In Submission

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AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
557000
CY2019Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.11
CY2019Q1 us-gaap Depreciation
Depreciation
54000
CY2019Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
871000
CY2019Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.37
CY2018Q1 hnna Distribution Expense
DistributionExpense
123000
CY2018Q1 hnna Stock Issued During Period Value Auto Investments Pursuant To Dividend Reinvestment And Stock Purchase Plan
StockIssuedDuringPeriodValueAutoInvestmentsPursuantToDividendReinvestmentAndStockPurchasePlan
8000
CY2019Q1 us-gaap Employee Benefits And Share Based Compensation
EmployeeBenefitsAndShareBasedCompensation
2752000
CY2019Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.37
CY2019Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
1335000
CY2019Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
3743000
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
843000
CY2019Q1 us-gaap Interest Expense
InterestExpense
299000
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
2900000
CY2019Q1 us-gaap Operating Expenses
OperatingExpenses
6498000
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
3958000
CY2019Q1 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
100000
CY2019Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
84000
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
10456000
CY2019Q1 us-gaap Subadvisory Fees For Mutual Funds
SubadvisoryFeesForMutualFunds
2251000
CY2019Q1 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
14000
CY2019Q1 us-gaap Stock Issued During Period Shares Restricted Stock Award Forfeited
StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
0 shares
CY2019Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
14000
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
7922408 shares
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
7918281 shares
CY2019Q1 hnna Distribution Expense
DistributionExpense
106000
CY2019Q1 hnna Stock Issued During Period Value Auto Investments Pursuant To Dividend Reinvestment And Stock Purchase Plan
StockIssuedDuringPeriodValueAutoInvestmentsPursuantToDividendReinvestmentAndStockPurchasePlan
6000
CY2017Q4 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
598000
CY2017Q4 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
585000
CY2017Q4 us-gaap Net Income Loss
NetIncomeLoss
8187000
CY2017Q4 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
117000
CY2017Q4 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
9000
CY2017Q4 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0
CY2017Q4 hnna Increase Decrease In Income Tax Expense
IncreaseDecreaseInIncomeTaxExpense
4200000
CY2017Q4 hnna Income Tax Expense Non Cash Benefit Diluted Earnings Per Share
IncomeTaxExpenseNonCashBenefitDilutedEarningsPerShare
0.54
CY2018Q4 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
568000
CY2018Q4 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
871000
CY2018Q4 us-gaap Net Income Loss
NetIncomeLoss
3067000
CY2018Q4 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
36000
CY2018Q4 us-gaap Stock Issued During Period Value Dividend Reinvestment Plan
StockIssuedDuringPeriodValueDividendReinvestmentPlan
13000
CY2018Q4 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
0
CY2018Q4 hnna Stock Issued During Period Value Auto Investments Pursuant To Dividend Reinvestment And Stock Purchase Plan
StockIssuedDuringPeriodValueAutoInvestmentsPursuantToDividendReinvestmentAndStockPurchasePlan
4000

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