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Thursday, August 06, 2009|
Hennessy's Earnings Rise to Zero
Hennessy Advisors recorded earnings per share of $0.00 during the third quarter of its fiscal 2009, which ended June 30, 2009, compared to $0.06 a share a year ago and a loss of $0.02 per share last quarter.
Total revenue slipped to $1.57 million in Q3 from $2.32 million in the year over year period. Total AUM fell 29 percent from $1.095 billion in the year-ago period to $775 million this past quarter.
The California-based company closed on the acquisition of the Tamarack Funds on March 23, 2009. The firm also recently announced that it will acquire two Japan-focused funds from SPARX Investment and Research, USA before the end of the advisor's fiscal year on September 30, 2009.
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