Hennessy Advisors reports $0.25 GAAP EPS for Q2 as net income drops 6% due to early debt repayment.
Hennessy Advisors posted Q2 GAAP earnings per share of $0.25 on revenue of $8.4 million. Net income declined 6% to $2.0 million, driven by the early redemption of debt.
Average assets under management rose 4% to $4.3 billion, while total AUM increased 3% to $4.4 billion. Cash and cash equivalents, net of gross debt, climbed 18% to $35.4 million.
The firm did not disclose immediate market reaction to the results.