$HNNA
HENNESSY ADVISORS INC

2020 Q4 Form 10-Q Financial Statement

#000119312521038419 Filed on February 11, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2019 Q4 2019 Q2
Revenue $7.789M $10.24M $10.24M
YoY Change -23.97% -12.02% -24.49%
Cost Of Revenue $1.790M $2.320M $2.290M
YoY Change -22.84% -4.92% -13.91%
Gross Profit $6.000M $7.930M $8.160M
YoY Change -24.34% -13.8% -25.21%
Gross Profit Margin 77.03% 77.41% 79.66%
Selling, General & Admin $3.530M $4.140M $4.160M
YoY Change -14.73% -8.81% -11.86%
% of Gross Profit 58.83% 52.21% 50.98%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $62.00K $53.00K $53.00K
YoY Change 16.98% -3.64% -14.52%
% of Gross Profit 1.03% 0.67% 0.65%
Operating Expenses $5.380M $6.513M $6.513M
YoY Change -17.4% -7.47% -12.46%
Operating Profit $2.409M $3.731M $3.731M
YoY Change -35.43% -18.98% -39.11%
Interest Expense $0.00 $187.0K $187.0K
YoY Change -100.0% -39.68% -40.63%
% of Operating Profit 0.0% 5.01% 5.01%
Other Income/Expense, Net $0.00 $60.00K $90.00K
YoY Change -100.0% -25.0% 125.0%
Pretax Income $2.410M $3.600M $3.600M
YoY Change -33.06% -17.68% -38.52%
Income Tax $637.0K $972.0K $972.0K
% Of Pretax Income 26.43% 27.0% 27.0%
Net Earnings $1.773M $2.628M $2.628M
YoY Change -32.53% -14.31% -37.7%
Net Earnings / Revenue 22.76% 25.65% 25.65%
Basic Earnings Per Share $0.24 $0.35 $0.35
Diluted Earnings Per Share $0.24 $0.35 $0.35
COMMON SHARES
Basic Shares Outstanding 7.358M 7.501M 7.501M
Diluted Shares Outstanding 7.367M 7.538M 7.538M

Balance Sheet

Concept 2020 Q4 2019 Q4 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.00M $22.50M $23.80M
YoY Change -55.56% -4.26% 12.26%
Cash & Equivalents $9.954M $22.46M $23.75M
Short-Term Investments $0.00 $0.00 $0.00
Other Short-Term Assets $400.0K $500.0K $500.0K
YoY Change -20.0% 25.0% -16.67%
Inventory
Prepaid Expenses $427.0K $528.0K $524.0K
Receivables $2.688M $3.484M $3.376M
Other Receivables $324.0K $449.0K $435.0K
Total Short-Term Assets $13.40M $26.93M $28.09M
YoY Change -50.22% -3.65% 5.22%
LONG-TERM ASSETS
Property, Plant & Equipment $298.0K $342.0K $394.0K
YoY Change -12.87% -10.94% 7.95%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $192.0K $192.0K $191.0K
YoY Change 0.0% 0.0% 1.6%
Total Long-Term Assets $81.32M $81.74M $80.52M
YoY Change -0.51% 1.56% 2.45%
TOTAL ASSETS
Total Short-Term Assets $13.40M $26.93M $28.09M
Total Long-Term Assets $81.32M $81.74M $80.52M
Total Assets $94.72M $108.7M $108.6M
YoY Change -12.83% 0.22% 3.15%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $4.600M
YoY Change -20.69%
Accrued Expenses $2.300M $3.200M
YoY Change -28.13%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $4.327M $4.234M
YoY Change 2.34% 0.14%
Total Short-Term Liabilities $3.572M $8.876M $9.533M
YoY Change -59.76% 0.09% -10.59%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $11.97M $14.23M
YoY Change -100.0% -27.22% -23.33%
Other Long-Term Liabilities $200.0K
YoY Change
Total Long-Term Liabilities $0.00 $11.97M $14.23M
YoY Change -100.0% -27.22% -23.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.572M $8.876M $9.533M
Total Long-Term Liabilities $0.00 $11.97M $14.23M
Total Liabilities $15.40M $31.74M $33.93M
YoY Change -51.47% -8.54% -8.98%
SHAREHOLDERS EQUITY
Retained Earnings $60.24M $58.89M $57.07M
YoY Change 2.28% 4.44% 11.15%
Common Stock $19.08M $18.03M $17.61M
YoY Change 5.83% 4.0% 5.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $79.32M $76.92M $74.68M
YoY Change
Total Liabilities & Shareholders Equity $94.72M $108.7M $108.6M
YoY Change -12.83% 0.22% 3.15%

Cashflow Statement

Concept 2020 Q4 2019 Q4 2019 Q2
OPERATING ACTIVITIES
Net Income $1.773M $2.628M $2.628M
YoY Change -32.53% -14.31% -37.7%
Depreciation, Depletion And Amortization $62.00K $53.00K $53.00K
YoY Change 16.98% -3.64% -14.52%
Cash From Operating Activities $1.051M $1.285M $4.760M
YoY Change -18.21% -29.86% -25.86%
INVESTING ACTIVITIES
Capital Expenditures $66.00K $34.00K -$90.00K
YoY Change 94.12% -40.35% 12.5%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$66.00K -$744.0K -$90.00K
YoY Change -91.13% -58.6% 12.5%
FINANCING ACTIVITIES
Cash Dividend Paid $992.0K $1.032M
YoY Change -3.88% 18.48%
Common Stock Issuance & Retirement, Net $0.00 $685.0K
YoY Change -100.0%
Debt Paid & Issued, Net $0.00 $1.094M
YoY Change -100.0% 0.0%
Cash From Financing Activities -986.0K -2.773M -5.990M
YoY Change -64.44% 39.77% 223.78%
NET CHANGE
Cash From Operating Activities 1.051M 1.285M 4.760M
Cash From Investing Activities -66.00K -744.0K -90.00K
Cash From Financing Activities -986.0K -2.773M -5.990M
Net Change In Cash -1.000K -2.232M -1.320M
YoY Change -99.96% 14.52% -129.4%
FREE CASH FLOW
Cash From Operating Activities $1.051M $1.285M $4.760M
Capital Expenditures $66.00K $34.00K -$90.00K
Free Cash Flow $985.0K $1.251M $4.850M
YoY Change -21.26% -29.52% -25.38%

Facts In Submission

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0
CY2020Q3 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2020Q3 us-gaap Fair Value Assets Level2 To Level1 Transfers Amount
FairValueAssetsLevel2ToLevel1TransfersAmount
0
CY2020Q4 hnna Schedule Of Operating Lease Right Of Use Assets Lease Liabilities And Other Supplemental Information
ScheduleOfOperatingLeaseRightOfUseAssetsLeaseLiabilitiesAndOtherSupplementalInformation
The classification of the Company&#8217;s operating lease <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">right-of-use</div></div> assets and operating lease liabilities and other supplemental information related to the Company&#8217;s operating leases are as follows:<table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table><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="width:80%;"></td><td style="vertical-align:bottom;;width:17%;"></td><td></td><td></td><td></td></tr><tr style="font-family: times new roman; font-size: 8pt; page-break-inside: avoid;"><td style="padding-bottom: 1pt;;vertical-align:bottom;">&#160;</td><td style="padding-bottom: 1pt;;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;2020</div></td><td style="padding-bottom: 1pt;;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 thousands,<br/> except years<br/> and percentages)</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;">Operating lease <div style="white-space: nowrap; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;"><div style="white-space: nowrap; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">right-of-use</div></div> assets</div></td><td style="background-color: rgb(204, 238, 255);;vertical-align:bottom;">&#160;&#160;</td><td style="white-space: nowrap; background-color: rgb(204, 238, 255);;vertical-align:bottom;">$</td><td style="white-space: nowrap; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">183</td><td style="white-space: nowrap; background-color: rgb(204, 238, 255);;vertical-align:bottom;">&#160;</td></tr><tr style="font-family: times new roman; font-size: 10pt; page-break-inside: avoid;"><td style="vertical-align:top;"><div style="text-indent: -1em; font-family: &quot;times new roman&quot;; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1em; line-height: normal;"><div style="letter-spacing: 0px; top: 0px;;display:inline;">Operating lease liability</div><br/></div></td><td style="vertical-align:bottom;">&#160;&#160;</td><td style="white-space: nowrap;;vertical-align:bottom;">$</td><td style="white-space: nowrap;;text-align:right;;vertical-align:bottom;">220</td><td style="white-space: nowrap;;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="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px; background-color: rgb(204, 238, 255);;display:inline;">Weighted average remaining lease term years</div></div></td><td style="background-color: rgb(204, 238, 255);;vertical-align:bottom;">&#160;&#160;</td><td style="white-space: nowrap; background-color: rgb(204, 238, 255);;vertical-align:bottom;">&#160;</td><td style="white-space: nowrap; background-color: rgb(204, 238, 255);;text-align:right;;vertical-align:bottom;">0.5</td><td style="white-space: nowrap; 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="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; letter-spacing: 0px; top: 0px;;display:inline;">Weighted average discount rate</div></div></td><td style="vertical-align:bottom;">&#160;&#160;</td><td style="white-space: nowrap;;vertical-align:bottom;">&#160;</td><td style="white-space: nowrap;;text-align:right;;vertical-align:bottom;">2.28</td><td style="white-space: nowrap;;vertical-align:bottom;">%&#160;</td></tr></table> <div style="clear: both; max-height: 0px;"></div> <div style="clear: both; max-height: 0px;"></div> <div style="clear: both; max-height: 0px;"></div> <div style="clear: both; max-height: 0px;"></div> <div style="clear: both; max-height: 0px;"></div> <div style="clear: both; max-height: 0px;"></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2020Q4 us-gaap Operating Lease Payments
OperatingLeasePayments
112432
CY2020Q4 dei Document Type
DocumentType
10-Q
CY2020Q4 dei Document Period End Date
DocumentPeriodEndDate
2020-12-31
CY2020Q4 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2020Q4 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0
CY2020Q4 us-gaap Interest Paid Net
InterestPaidNet
0
CY2020Q4 us-gaap Proceeds From Issuance Of Common Stock Dividend Reinvestment Plan
ProceedsFromIssuanceOfCommonStockDividendReinvestmentPlan
6000
CY2019Q4 us-gaap Proceeds From Issuance Of Common Stock Dividend Reinvestment Plan
ProceedsFromIssuanceOfCommonStockDividendReinvestmentPlan
38000
CY2020Q4 dei Trading Symbol
TradingSymbol
HNNA
CY2020Q4 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--09-30
CY2020Q4 dei Security12b Title
Security12bTitle
Common stock
CY2020Q4 dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2021Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
7360342
CY2020Q4 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2020Q4 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2020Q4 dei Entity Address Address Line1
EntityAddressAddressLine1
7250 Redwood Boulevard, Suite 200
CY2020Q4 dei Entity Address City Or Town
EntityAddressCityOrTown
Novato
CY2020Q4 dei City Area Code
CityAreaCode
415
CY2020Q4 dei Local Phone Number
LocalPhoneNumber
899-1555
CY2020Q4 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
68-0176227
CY2020Q4 dei Entity File Number
EntityFileNumber
001-36423
CY2020Q4 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
94945
CY2020Q4 dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
CY2020Q4 dei Entity Small Business
EntitySmallBusiness
true
CY2020Q4 dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
CY2020Q4 dei Document Transition Report
DocumentTransitionReport
false
CY2020Q4 dei Entity Shell Company
EntityShellCompany
false
CY2020Q4 dei Amendment Flag
AmendmentFlag
false
CY2020Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
227000
CY2020Q4 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2020Q4 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2020Q4 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2021
CY2021Q4 hnna Federal And State Tax Returns
FederalAndStateTaxReturns
22
CY2020Q4 hnna Federal And State Tax Returns
FederalAndStateTaxReturns
22
CY2019Q4 hnna Federal And State Tax Returns
FederalAndStateTaxReturns
19
CY2018Q4 hnna Federal And State Tax Returns
FederalAndStateTaxReturns
17
CY2020Q4 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0
CY2019Q4 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
0
CY2020Q4 us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
0
CY2020Q4 dei Entity Registrant Name
EntityRegistrantName
HENNESSY ADVISORS INC

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