ADVISORS, INC. ANNOUNCES ANNUAL EARNINGS
INCREASE OVER 10%
CA – December 6, 2005 – Hennessy Advisors, Inc. (OTCBB:HNNA)
Chief Executive Officer and President, Neil Hennessy, today announced
fully diluted earnings per share for Hennessy Advisors, Inc. of
$1.20 for the fiscal year ended September 30, 2005, up from $1.09
in the prior fiscal year, an increase of over 10%. Growth in income
is primarily attributable to increased mutual fund assets under
management. Total mutual fund assets increased by nearly 50%, growing
to $1.8 billion at September 30, 2005, compared to $1.2 billion
at September 30, 2004. Approximately half of the growth in assets
is attributable to the acquisition of The Henlopen Fund, which occurred
in the last quarter of the fiscal year.
am delighted that we have been able to produce another strong year
of earnings for our valued shareholders, particularly in light of
the volatile market environment and increasing regulations and costs
associated with managing mutual funds,” said Mr. Hennessy.
“With revenue increasing 25% and income and earnings each
increasing over 10% versus last year, we anticipate that our investors
will be pleased with our financial results,” he added.
Advisors, Inc., located in Novato, CA, is a publicly traded investment
advisor to six no-load mutual funds. The Hennessy Funds employ superb,
time-tested stock selection formulas and manage their funds with
unwavering discipline and consistency. Hennessy Funds serves clients
with integrity, honesty and candor, and their strategies and performance
are fully disclosed.
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