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Friday, December 06, 2019|
A Cali AM's AUM, Revenue, and Earnings Slip
A West Coast mutual fund firm's team released their earnings results earlier this week, showing AUM, revenue, and earnings all slipping from last year.
The Hennessy team reported net income for FY 2019 at $11 million, is a decrease of 46.5 percent from $23.65 million in FY 2018. (Though they note that their fiscal 2018 results were boosted by a one-time tax adjustment.) According to their 10k, AUM at the end of fiscal year 2019 was at $4.87 billion, down 21.3 percent from closing AUM of $6.19 billion at the end of fiscal year 2018. Net operating income for FY 2019 was $16 million, down 33 percent from $24 million for FY 2018.
Overall, Hennessy reports GAAP EPS of $1.42 for fiscal 2019, and revenue of $42.72, down 21.7 percent year on year.
Printed from: MFWire.com/story.asp?s=60604
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