$HNNA
HENNESSY ADVISORS INC

2019 Q4 Form 10-Q Financial Statement

#000119312520031361 Filed on February 11, 2020

View on sec.gov

Income Statement

Concept 2019 Q4 2018 Q4
Revenue $10.24M $11.64M
YoY Change -12.02% -15.7%
Cost Of Revenue $2.320M $2.440M
YoY Change -4.92% -3.56%
Gross Profit $7.930M $9.200M
YoY Change -13.8% -18.44%
Gross Profit Margin 77.41% 79.01%
Selling, General & Admin $4.140M $4.540M
YoY Change -8.81% -5.42%
% of Gross Profit 52.21% 49.35%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $53.00K $55.00K
YoY Change -3.64% 19.57%
% of Gross Profit 0.67% 0.6%
Operating Expenses $6.513M $7.039M
YoY Change -7.47% -4.61%
Operating Profit $3.731M $4.605M
YoY Change -18.98% -28.43%
Interest Expense $187.0K $310.0K
YoY Change -39.68% 3.33%
% of Operating Profit 5.01% 6.73%
Other Income/Expense, Net $60.00K $80.00K
YoY Change -25.0% 700.0%
Pretax Income $3.600M $4.373M
YoY Change -17.68% -28.86%
Income Tax $972.0K $1.306M
% Of Pretax Income 27.0% 29.87%
Net Earnings $2.628M $3.067M
YoY Change -14.31% -62.54%
Net Earnings / Revenue 25.65% 26.34%
Basic Earnings Per Share $0.35 $0.39
Diluted Earnings Per Share $0.35 $0.39
COMMON SHARES
Basic Shares Outstanding 7.501M 7.914M
Diluted Shares Outstanding 7.538M 7.917M

Balance Sheet

Concept 2019 Q4 2018 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $22.50M $23.50M
YoY Change -4.26% 54.61%
Cash & Equivalents $22.46M $23.45M
Short-Term Investments $0.00 $0.00
Other Short-Term Assets $500.0K $400.0K
YoY Change 25.0% 0.0%
Inventory
Prepaid Expenses $528.0K $429.0K
Receivables $3.484M $3.615M
Other Receivables $449.0K $446.0K
Total Short-Term Assets $26.93M $27.95M
YoY Change -3.65% 34.12%
LONG-TERM ASSETS
Property, Plant & Equipment $342.0K $384.0K
YoY Change -10.94% 44.91%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $192.0K $192.0K
YoY Change 0.0% 26.32%
Total Long-Term Assets $81.74M $80.48M
YoY Change 1.56% 5.75%
TOTAL ASSETS
Total Short-Term Assets $26.93M $27.95M
Total Long-Term Assets $81.74M $80.48M
Total Assets $108.7M $108.4M
YoY Change 0.22% 11.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.100M
YoY Change 0.0%
Accrued Expenses $3.200M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $4.327M $4.228M
YoY Change 2.34% 0.0%
Total Short-Term Liabilities $8.876M $8.868M
YoY Change 0.09% -0.53%
LONG-TERM LIABILITIES
Long-Term Debt $11.97M $16.44M
YoY Change -27.22% -20.46%
Other Long-Term Liabilities $200.0K
YoY Change
Total Long-Term Liabilities $11.97M $16.44M
YoY Change -27.22% -20.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.876M $8.868M
Total Long-Term Liabilities $11.97M $16.44M
Total Liabilities $31.74M $34.70M
YoY Change -8.54% -7.02%
SHAREHOLDERS EQUITY
Retained Earnings $58.89M $56.39M
YoY Change 4.44% 27.76%
Common Stock $18.03M $17.34M
YoY Change 4.0% 11.96%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $76.92M $73.73M
YoY Change
Total Liabilities & Shareholders Equity $108.7M $108.4M
YoY Change 0.22% 11.85%

Cashflow Statement

Concept 2019 Q4 2018 Q4
OPERATING ACTIVITIES
Net Income $2.628M $3.067M
YoY Change -14.31% -62.54%
Depreciation, Depletion And Amortization $53.00K $55.00K
YoY Change -3.64% 19.57%
Cash From Operating Activities $1.285M $1.832M
YoY Change -29.86% -23.67%
INVESTING ACTIVITIES
Capital Expenditures $34.00K $57.00K
YoY Change -40.35% 0.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$744.0K -$1.797M
YoY Change -58.6% 61.17%
FINANCING ACTIVITIES
Cash Dividend Paid $1.032M $871.0K
YoY Change 18.48% 48.89%
Common Stock Issuance & Retirement, Net $685.0K
YoY Change
Debt Paid & Issued, Net $1.094M $1.094M
YoY Change 0.0% 0.0%
Cash From Financing Activities -2.773M -1.984M
YoY Change 39.77% 11.02%
NET CHANGE
Cash From Operating Activities 1.285M 1.832M
Cash From Investing Activities -744.0K -1.797M
Cash From Financing Activities -2.773M -1.984M
Net Change In Cash -2.232M -1.949M
YoY Change 14.52% 288.25%
FREE CASH FLOW
Cash From Operating Activities $1.285M $1.832M
Capital Expenditures $34.00K $57.00K
Free Cash Flow $1.251M $1.775M
YoY Change -29.52% -24.24%

Facts In Submission

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AmendmentFlag
false
CY2019Q4 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2020
CY2019Q4 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2019Q4 dei Trading Symbol
TradingSymbol
HNNA
CY2019Q4 dei Entity Central Index Key
EntityCentralIndexKey
0001145255
CY2019Q4 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--09-30
CY2019Q4 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2019Q4 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2019Q4 us-gaap Dividends Payable Date Of Record Day Month And Year
DividendsPayableDateOfRecordDayMonthAndYear
2019-11-12
CY2019Q4 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2019Q4 dei Entity Small Business
EntitySmallBusiness
true
CY2019Q4 dei Entity Shell Company
EntityShellCompany
false
CY2019Q3 hnna Business Combination Accrued Consideration Payable Current
BusinessCombinationAccruedConsiderationPayableCurrent
710000
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y6M
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0228
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
334000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
341000
CY2019Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
675000
CY2019Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
15000
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
660000
CY2019Q4 us-gaap Operating Lease Payments
OperatingLeasePayments
109138
CY2019Q4 hnna Right Of Use Assets Related To Straight Line Rent
RightOfUseAssetsRelatedToStraightLineRent
-14000
CY2019Q4 hnna Schedule Of Operating Lease Right Of Use Assets Lease Liabilities And Other Supplemental Information
ScheduleOfOperatingLeaseRightOfUseAssetsLeaseLiabilitiesAndOtherSupplementalInformation
<div style="text-indent: 4%; font-family: times new roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="font-family: times new roman; font-size: 10pt;;display:inline;">The classification of the Company&#8217;s operating lease right-of-use assets and operating lease liabilities and other supplemental information related to the Company&#8217;s operating leases are as follows:</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><div style="font-size: 12pt; margin-top: 0pt; margin-bottom: 0pt;"><div style="font-size: 12pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><table border="0" cellpadding="0" cellspacing="0" style="font-family: &quot;times new roman&quot;; font-size: 10pt; border-collapse: collapse; border-spacing: 0px;;margin : 0px auto;;text-align:left;;width:68%;"><tr style="font-size: 0px;"><td style="padding: 0px;;width:80%;"></td><td style="padding: 0px;;vertical-align:bottom;;width:17%;"></td><td style="padding: 0px;"></td><td style="padding: 0px;"></td><td style="padding: 0px;"></td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding-bottom: 0.5pt;;vertical-align:bottom;">&#160;</td><td style="padding-bottom: 0.5pt;;vertical-align:bottom;">&#160;&#160;</td><td colspan="2" style="border-bottom-color: rgb(0, 0, 0); border-bottom-width: 1pt; border-bottom-style: solid;;text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">December&#160;31,&#160;2019</div></td><td style="padding-bottom: 0.5pt;;vertical-align:bottom;">&#160;</td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="vertical-align:bottom;">&#160;</td><td style="vertical-align:bottom;">&#160;&#160;</td><td colspan="2" style="text-align:center;;vertical-align:bottom;"><div style="font-weight:bold;display:inline;">(In&#160;thousands,<br/>except&#160;years)</div></td><td style="vertical-align:bottom;">&#160;</td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: &quot;times new roman&quot;; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="white-space: nowrap; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="white-space: nowrap;;display:inline;">Operating&#160;lease&#160;right-of-use&#160; assets</div></div></div></td><td style="font-family: &quot;times new roman&quot;; background-color: rgb(204, 238, 255);;vertical-align:bottom;">&#160;&#160;</td><td style="background-color: rgb(204, 238, 255);;vertical-align:bottom;">$</td><td style="background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">558</td><td style="white-space: nowrap; font-family: &quot;times new roman&quot;; padding: 0px; background-color: rgb(204, 238, 255);;vertical-align:bottom;"></td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="font-size: 10pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: &quot;times new roman&quot;; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Current operating lease liability</div></div></td><td style="font-family: &quot;times new roman&quot;;;vertical-align:bottom;">&#160;&#160;</td><td style="vertical-align:bottom;">$</td><td style="text-align:right;;vertical-align:bottom;">439</td><td style="white-space: nowrap; font-family: &quot;times new roman&quot;;;vertical-align:bottom;">&#160;</td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="font-size: 10pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: &quot;times new roman&quot;; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Long-term operating lease liability</div></div></td><td style="font-family: &quot;times new roman&quot;; background-color: rgb(204, 238, 255);;vertical-align:bottom;">&#160;&#160;</td><td style="background-color: rgb(204, 238, 255);;vertical-align:bottom;">$</td><td style="background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">221</td><td style="white-space: nowrap; font-family: &quot;times new roman&quot;; background-color: rgb(204, 238, 255);;vertical-align:bottom;">&#160;</td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="font-size: 10pt;;vertical-align:top;"><div style="text-indent: -1em; font-family: &quot;times new roman&quot;; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Weighted average remaining lease term</div></div></td><td style="font-family: &quot;times new roman&quot;;;vertical-align:bottom;">&#160;&#160;</td><td style="font-family: &quot;times new roman&quot;;;vertical-align:bottom;">&#160;</td><td style="text-align:right;;vertical-align:bottom;">1.5</td><td style="white-space: nowrap; font-family: &quot;times new roman&quot;;;vertical-align:bottom;">&#160;</td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="font-size: 10pt; background-color: rgb(204, 238, 255);;vertical-align:top;"><div style="text-indent: -1em; font-family: &quot;times new roman&quot;; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Weighted average discount rate</div></div></td><td style="font-family: &quot;times new roman&quot;; background-color: rgb(204, 238, 255);;vertical-align:bottom;">&#160;&#160;</td><td style="font-family: &quot;times new roman&quot;; background-color: rgb(204, 238, 255);;vertical-align:bottom;">&#160;</td><td style="background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">2.28</td><td style="white-space: nowrap; background-color: rgb(204, 238, 255);;vertical-align:bottom;">%&#160;</td></tr></table>

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