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May 2022
February 2022
October 2021
September 2021
August 2021
August 2021
May 2021
January 2021
November 2020
October 2020
(In thousands, except per share data) | U.S. GAAP | ||||||||||||||||||||||
Three Months Ended March 31, | Year Ended March 31, | ||||||||||||||||||||||
2022 | 2021 | 2022 | 2021 | ||||||||||||||||||||
Revenues | $ | 471,166 | $ | 500,704 | $ | 2,269,958 | $ | 1,525,452 | |||||||||||||||
Operating expenses: | |||||||||||||||||||||||
Employee compensation and benefits | 293,580 | 317,082 | 1,408,634 | 971,195 | |||||||||||||||||||
Non-compensation expenses | 78,977 | 43,346 | 248,460 | 146,100 | |||||||||||||||||||
Operating income | 98,609 | 140,276 | 612,864 | 408,157 | |||||||||||||||||||
Other (income)/expense, net | 7,921 | 473 | 8,926 | (1,071) | |||||||||||||||||||
Income before provision for income taxes | 90,688 | 139,803 | 603,938 | 409,228 | |||||||||||||||||||
Provision for income taxes | 25,515 | 40,437 | 165,614 | 96,457 | |||||||||||||||||||
Net income | 65,173 | 99,366 | 438,324 | 312,771 | |||||||||||||||||||
Net income attributable to noncontrolling interest | — | — | (573) | — | |||||||||||||||||||
Net income attributable to Houlihan Lokey, Inc. | $ | 65,173 | $ | 99,366 | $ | 437,751 | $ | 312,771 | |||||||||||||||
Diluted earnings per share attributable to Houlihan Lokey, Inc. | $ | 0.97 | $ | 1.44 | $ | 6.41 | $ | 4.55 |
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Houlihan Lokey, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:
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Our liquidity is highly dependent upon cash receipts from clients that are generally dependent upon the successful completion of transactions as well as the timing of receivables collections, which typically occur within 60 days of billing.
For the fiscal year ended March 31, 2022, we earned revenues of $2.27 billion, an increase of 49% from the $1.53 billion earned during the fiscal year ended March 31, 2021.
Financing activities resulted in a net outflow of $(26.8) million primarily related to (i) dividend distributions, (ii) share repurchases, and (iii) payments to settle employee tax obligations on share-based awards, partially offset by the proceeds from the Company's May 2020 offering.
Corporate Expenses Year Ended March 31, 2022 Compared to the Year Ended March 31, 2021 Corporate expenses were $182 million for the year ended March 31, 2022, compared with $113 million for the year ended March 31, 2021, representing an increase of 61%.
The increase in corporate expenses was primarily a result of non-compensation expenses attributable to GCA, amortization of intangible assets recognized in connection with the acquisition of GCA and integration and acquisition related costs associated with the acquisition of GCA.
Accordingly, the amount of employee...Read more
It is too early to...Read more
The amounts and useful lives...Read more
Provision for Income Taxes The...Read more
Operating expenses were $1,657 million...Read more
The decrease in segment profit...Read more
The increase in non-compensation expenses...Read more
Liquidity and Capital Resources Our...Read more
Operating Expenses Our operating expenses...Read more
Subsequent to the end of...Read more
The increase in revenues was...Read more
Financial Restructuring Year Ended March...Read more
Employee compensation and benefits expense,...Read more
Our excess cash may be...Read more
A summary of our operating,...Read more
The Company also has various...Read more
Non-compensation expenses, as a component...Read more
Our employee compensation and benefits...Read more
For our fiscal year ended...Read more
Segment profit for FVA was...Read more
Segment profit for CF was...Read more
In our CF business segment,...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
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Houlihan Lokey, Inc. provided additional information to their SEC Filing as exhibits
Ticker: HLI
CIK: 1302215
Form Type: 10-K Annual Report
Accession Number: 0001302215-22-000029
Submitted to the SEC: Fri May 27 2022 5:22:18 PM EST
Accepted by the SEC: Fri May 27 2022
Period: Thursday, March 31, 2022
Industry: Investment Advice