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Rating:Hennessy Lives Large Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, December 15, 2004

Hennessy Lives Large

by: Theresa Sim

Asset growth bulked up the earnings of Novato, California-based Hennessy Advisors.

The firm reported earnings per diluted share of $1.63 at the fiscal year ended September 30, 2004, an increase of 150.8 percent from $0.65 per diluted share the year before.

Assets under management were $1.2 billion at the end of September, growth of 46.3 percent from $835.1 million from the same period last year.

Most of that growth came from Hennessy's March acquisition of $291 million in assets in five Lidner Asset Management-advised funds.

Hennessy is the investment advisor to the Hennessy Funds, a family of five no-load mutual funds. 

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