ADVISORS, INC. ANNOUNCES
THIRD QUARTER EARNINGS OF $0.17 PER SHARE
Novato, CA - August 2, 2007
Hennessy Advisors, Inc. (OTCBB:HNNA)
Chief Executive Officer and President, Neil Hennessy, today announced
fully diluted earnings per share for Hennessy Advisors, Inc. of
$0.17 for the quarter ended June 30, 2007. Earnings decreased versus
the prior comparable period, which were $0.22 per share. Diluted
earnings per share for the nine months ended June 30, 2007 were
$0.53 per share, down from $0.55 in the prior comparable period,
a decrease of approximately 4%. The decline in earnings from the
prior comparable period is primarily attributable to decreased mutual
fund assets under management. Total mutual fund assets decreased
to $1.91 billion at June 30, 2007, compared to $2.18 billion at
June 30, 2006. The decrease in assets is a combination of net outflows
from the mutual funds, partly offset by positive market performance
from period to period.
are pleased with our financial results for the quarter as well as
for the nine-month period," said Mr. Hennessy. Despite the
volatility of the overall market and our quarter-end assets under
management being down approximately $269 million, the corresponding
earnings per share for the quarter were down five cents, while our
nine-month earnings decreased by only two cents per share,"
Advisors, Inc., located in Novato, CA, is a publicly traded investment
advisor to six no-load mutual funds. Hennessy Advisors, Inc. is
committed to their time-tested, quantitative stock selection formulas
and disciplined money management approach.
in this section shall be considered a solicitation to buy or an
offer to sell a security to any person in any jurisdiction where
such offer, solicitation, purchase or sale would be unlawful under
the securities laws of such jurisdiction.