Hennessy Advisors, Inc. Reports 125% Increase in Quarterly Earnings Per Share and Announces Quarterly Dividend

Core Insights - Hennessy Advisors, Inc. reported strong financial results for the first fiscal quarter of 2025, with significant increases in revenue, net income, and assets under management, reflecting a positive market environment and effective business strategies [1][2][6]. Financial Performance - Total revenue for the quarter ended December 31, 2024, was $9.7 million, representing a 58% increase compared to $6.1 million in the same quarter of the previous year [2][6]. - Net income reached $2.8 million, a substantial increase of 136% from $1.2 million in the prior year [2][6]. - Earnings per share (diluted) were $0.36, up 125% from $0.16 in the previous year [2][6]. - Average assets under management were $4.8 billion, reflecting a 58.8% increase from $3.0 billion [2][6]. - Total assets under management stood at $4.8 billion, an increase of 45.7% from $3.3 billion [2][6]. - Cash and cash equivalents, net of gross debt, increased by 27.8% to $24.7 million from $19.4 million [2][6]. Market Outlook - The company expressed confidence in continued positive market momentum, driven by strong consumer spending and robust corporate profits, despite potential periods of volatility [1][2]. - The performance of all 17 Hennessy Funds was positive for the year, with long-term returns also showing strength across various time frames [1][2]. Business Strategy - Hennessy Advisors attributes its strong product performance to a consistent business model and effective distribution and marketing strategies, leading to a nearly 50% increase in total assets under management [2][3]. - The company remains focused on delivering meaningful returns to shareholders while seeking new opportunities for growth [2].