Hennessy advisors inc (HNNA)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10
Cash flows from operating activities
Net income

1,970

2,628

2,407

2,657

2,900

3,067

3,655

4,218

4,555

8,187

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net income

-

-

-

-

-

-

-

-

-

-

3,358

3,960

3,628

3,996

3,540

3,894

3,283

3,650

3,426

3,303

2,594

2,066

2,406

2,045

1,759

1,457

1,565

1,370

1,117

768

270

303

246

152

265

352

332

266

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation

61

53

60

56

54

55

65

61

59

46

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized loss on marketable securities

-

-

-

-

-

-

-

-

-

1

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Right-of-use asset related to straight-line rent

-

-14

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization and depreciation

-

-

-

-

-

-

-

-

-

-

-

91

91

93

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization and depreciation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

88

89

88

-

67

65

65

61

61

60

60

58

47

45

38

26

23

25

21

24

24

26

28

Deferred income taxes

-547

-403

-103

-218

-559

-424

-910

-362

38

3,810

-368

-53

-126

-1,170

125

45

-116

-1,413

-247

-1,308

768

-521

-293

-311

-850

-40

-251

-368

-295

-386

-

-

-

-

-

-

-

-

Restricted stock units repurchased for employee tax withholding

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

24

-

-

-

-

Tax effect from restricted stock unit vesting

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3

-62

Restricted stock units repurchased for employee tax withholding

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1

-4

Stock-based compensation

447

447

545

542

557

568

585

581

649

598

533

528

529

528

367

349

350

350

194

169

169

160

55

51

47

49

5

0

0

3

9

8

10

25

32

31

38

70

Interest expense associated with debt issuance cost

112

13

12

20

38

36

37

36

37

37

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of loan fee payments

-

-

-

-

-

-

-

-

-

-

-

-

36

37

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Change in operating assets and liabilities
Realized loss on liquidation of available for sale security

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

108

-

-

-

-

-

-

-

-

Investment fee income receivable

-1,034

193

-85

-225

-14

-644

-198

-255

-55

442

-35

-200

17

313

-30

-54

-110

372

90

14

578

228

148

66

184

342

253

32

165

1,309

75

-22

24

18

-66

-63

23

35

Prepaid expenses

-35

-105

109

49

46

-239

61

129

116

-1,252

987

72

20

-640

403

-35

210

-452

-151

829

4

-234

419

-63

42

-66

-665

174

580

-10

64

0

-96

-14

131

-104

80

-57

Other accounts receivable

-107

57

-43

-55

44

33

-71

-2

-14

-84

30

18

25

-69

-11

67

-111

100

219

31

-76

-83

-

38

0

-29

-

-

-

-

-

-

-

-

-

-

-

-

Other current assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

424

0

-34

40

-11

1

5

-12

3

Other assets

-

-

-

-

0

1

-37

0

36

7

-

-

-

-

-

-

-

-

-

-

-

-

-212

226

1

-43

-

-

-

-

0

0

-3

-7

-

-

-

-

Accrued liabilities and accounts payable

360

-2,796

921

831

720

-4,017

1,244

1,318

1,389

-4,221

1,652

1,142

1,379

-3,398

1,200

1,202

955

-1,478

327

1,152

809

-1,127

-213

820

894

-1,048

105

651

985

156

397

170

219

-572

147

154

219

-652

Income taxes payable

-657

696

119

228

-1,095

862

140

-216

-726

684

675

0

0

-383

383

0

0

-1,097

-

-

-

-

0

-4

-1,185

1,145

44

0

-208

160

-

-

-

-

0

0

-35

17

Deferred rent

-

-

-13

-14

-11

-12

-11

-10

-8

-7

-8

95

66

17

-17

-16

-14

-15

-17

-11

-14

-6

71

71

-16

-16

-

-

-

-

-

-

-

-

-

-

-

-

Current portion of deferred rent

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-15

-16

-12

-12

-5

70

10

-12

11

-12

-24

-1

Net cash provided by operating activities

-

-

-

-

-

-

-

-

-

-

-

-

5,724

2,382

5,015

5,493

4,885

2,793

4,224

6,071

2,415

1,734

3,330

2,396

2,204

1,483

-

-

-

-

-

-

-

-

-

-

-

-

Long-term portion of deferred rent

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-12

Net cash provided by operating activities

4,004

1,285

4,172

4,756

3,632

1,832

6,869

6,427

5,835

2,400

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-115

748

793

672

-176

494

873

625

-114

Cash flows from investing activities
Purchases of property and equipment

35

34

27

88

32

57

83

57

163

57

64

44

36

32

63

21

14

86

144

67

15

32

61

7

31

41

55

53

40

105

69

6

11

15

10

17

15

10

Deferred offering costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments related to management contracts

0

710

1

0

29

1,740

125

16

2,336

1,058

104

46

68

51

11,352

56

32

238

-

-

-

-

0

0

0

19,152

28

692

58

19,902

199

36

0

38

-

-

-

-

Proceeds on liquidation of available for sale security

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

404

-

-

-

-

-

-

-

-

Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-104

-83

-11,414

-77

-46

-325

-287

-104

-27

-32

-61

-7

-31

-19,193

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in investing activities

-35

-744

-28

-88

-61

-1,797

-208

-73

-2,499

-1,115

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-19,603

-268

-42

-11

-53

-10

-17

-15

-10

Cash flows from financing activities
Principal payments on bank loan

16,406

1,094

1,094

1,093

1,094

1,094

1,094

1,093

1,094

1,094

1,204

1,057

1,057

1,057

1,093

1,095

1,093

1,094

937

938

937

938

938

938

937

619

460

460

459

206

156

157

156

156

156

157

156

104

Shares repurchased pursuant to stock buyback program

2,028

685

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Tax effect from restricted stock units

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2

11

287

2

-

-

-

-

-

-

-

-

Restricted stock units repurchased for employee tax withholding

-

-

-

-

-

-

-

-

-

-

-

-

-

-

420

0

0

98

105

0

0

34

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

107

240

104

157

148

217

Tax effect from restricted stock units and stock options

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

3

3

-1

20

-

-

-

-

Restricted stock units purchased for employee tax withholding

-

-

362

0

0

36

509

0

34

117

485

0

0

168

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

1

-

-

-

-

-

-

-

-

Proceeds from new bank loan

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

13,287

0

0

0

16,525

-

-

-

-

-

-

-

-

Loan fee payments on bank loan

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15

-

-

-

-

0

0

0

153

-1

0

0

224

-

-

-

-

-

-

-

-

Proceeds from shares issued pursuant to the 2018 Dividend Reinvestment and Stock Repurchase Plan

-18

38

-38

21

20

17

-30

17

20

9

0

1

0

2

-7

8

13

1

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Dividend payments

975

1,032

972

825

871

871

736

782

780

585

568

568

568

506

385

406

409

300

359

361

362

301

240

238

236

184

185

183

181

180

181

180

180

144

144

143

144

514

Net cash used in financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-1,626

-1,729

-1,485

-1,493

-1,489

-1,408

-14,716

-1,299

-1,299

-1,239

-2,122

8

-1,099

12,331

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-19,427

-2,773

-3,205

-5,992

-1,945

-1,984

-2,408

-1,858

-1,888

-1,787

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15,915

-337

-337

-321

-300

-300

-300

-300

-618

Net decrease in cash and cash equivalents

-15,458

-2,232

-

-

1,626

-1,949

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net (decrease) increase in cash and cash equivalents

-

-

-

-

-

-

-

4,496

1,448

-502

3,373

4,228

3,994

570

-7,884

3,923

3,350

1,060

-10,779

4,668

1,089

463

1,147

2,397

1,074

-5,379

1,645

616

1,218

-3,803

143

414

340

-529

184

556

310

-742

Supplemental disclosures of cash flow information:
Cash paid for income taxes

-

-

827

598

1,641

19

745

1,492

2,187

19

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash paid for interest

199

182

214

258

257

270

286

276

264

270

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized gain on investment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2

23

58

Income taxes

-

-

-

-

-

-

-

-

-

-

-

-

1,310

684

1,610

1,922

1,830

1,598

1,570

629

2,243

752

973

953

1,448

145

10

785

947

37

-

-

-

-

115

29

201

0

Interest

-

-

-

-

-

-

-

-

-

-

-

-

1

270

279

285

342

284

239

248

252

265

276

286

289

202

176

180

182

79

12

13

13

14

15

16

17

15