Hennessy Advisors (HNNA) has reported a 10.52 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $3.63 million, or $0.47 a share in the quarter, compared with $3.28 million, or $0.43 a share for the same period last year.

Revenue during the quarter grew 8.57 percent to $13.24 million from $12.19 million in the previous year period.

Operating margin for the quarter was stable at 100 percent, when compared to the previous year period.

"We are pleased to announce another quarter of solid results, and we are proud to report continuing revenue and earnings growth, even with the regulatory and competitive challenges facing our industry. Going forward, we will maintain our focus on growing organically and through strategic acquisitions," said Neil Hennessy, president, chairman and chief executive officer of Hennessy Advisors, Inc. "We remain committed to sharing our profits with shareholders through the payment of a dividend, and this quarter we also effected a three-for-two stock split in an effort to improve the liquidity of our shares in the public market."