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Hennessy Advisors, Inc. Announces Annual Earnings of $0.17 Per Share



     Hennessy Advisors, Inc. Announces Annual Earnings of $0.17 Per Share

PR Newswire

NOVATO, Calif., Dec. 6, 2012

NOVATO, Calif., Dec. 6, 2012 /PRNewswire/ -- Hennessy Advisors, Inc.
(OTCBB:HNNA) today reported fully diluted earnings per share for the fiscal
year ended September 30, 2012 of $0.17, a decrease from the prior fiscal year
earnings of $0.21 per share.  Total assets under management increased almost
23% from $749 million at the beginning of the fiscal year to $919 million at
the end of the fiscal year, primarily driven by positive market impact.
 However, based on the timing of asset flows throughout the fiscal year, the
average level of assets under management during the period dropped to $823
million from $883 million for the previous year.

"Our business strategy is two-fold: to grow our mutual fund assets under
management through marketing and sales, and to strategically purchase
management related assets.  Despite strong returns for the major U.S.
financial market indices and positive performance for each of the Hennessy
Funds, we believe that investors are still fearful and that confidence has not
yet fully returned, and net flows into our Funds were roughly flat for the
year," said Neil Hennessy, President, Chairman & CEO of Hennessy Advisors,
Inc. "Fiscal 2012 did present a fantastic opportunity for Hennessy Advisors,
Inc. to make a strategic purchase of assets. On October 26th, 2012, we
successfully completed the purchase of the assets of the family of ten FBR
Funds, bringing our total assets under management to $3.1 billion. The
Hennessy Family of Funds now includes sixteen mutual funds, including
traditional domestic equity, sector specific and specialty categories, as well
as more conservative balanced and fixed income funds," he added.

"All of us at Hennessy Advisors are confident that continuing to focus on our
successful and proven business model, while showcasing the newly expanded
Hennessy Funds line-up, positions the company well for today and for the
future," said Mr. Hennessy.  

About Hennessy Advisors, Inc.

Hennessy Advisors, Inc. is the publicly traded investment manager of the
Hennessy Funds. Hennessy offers a broad range of domestic equity, sector and
specialty, and balanced and fixed income products. Hennessy employs a
consistent and repeatable investment process, combining time-tested stock
selection strategies with a highly disciplined, team-managed approach.

Supplemental Information

Nothing in this press release 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.

 

Hennessy Advisors, Inc.
Financial Highlights
Year to Year
                    Twelve Months Ended 
Fiscal Year         Sept. 30, 2012    Sept. 30, 2011  $ Change        % Change
Total Revenue       $                 $               $               -7.5%
                    7,071,709          7,644,116      (572,407)
Net Income          $                 $               $               -20.1%
                     970,875           1,214,959      (244,084)
Earnings per share  $                 $               $               -19.0%
(diluted)              0.17               0.21          (0.04)
Weighted Average
number of
shares outstanding  5,754,336         5,743,628       10,708          0.2%
(diluted)
Mutual Fund Average
Assets 
Under Management    $                 $               $               -6.8%
                    823,432,620        883,819,028    (60,386,408)
At Period Ending    Sept. 30, 2012    Sept. 30, 2011  $ Change        % Change
Date
Mutual Fund Total
Assets
Under Management    $                 $               $               22.7%
                     919,261,936       749,310,346    169,951,590
Retained Earnings   $                 $               $               1.8%
                     15,747,939        15,462,221      285,718

SOURCE Hennessy Advisors, Inc.

Website: http://www.hennessyadvisors.com
Contact: Tania Kelley, Hennessy Advisors, Inc., +1-800-966-4354,
+1-415-899-1555
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