Houlihan Lokey Reports Fiscal Year and Fourth Quarter 2016 Financial Results
– Fiscal Year 2016 Record Revenue of $694 Million, up 2% Year-Over-Year –
– GAAP Fiscal Year 2016 Diluted EPS of $1.10 and
Adjusted Fiscal Year 2016 Diluted EPS of $1.46 –
– Fourth Quarter Revenue of $184 Million –
– GAAP Fourth Quarter Diluted EPS of $0.35 and
Adjusted Fourth Quarter Diluted EPS of $0.43 –
– Increased Dividend by 13% to $0.17 per-Share for the First Quarter of Fiscal Year 2017 –
LOS ANGELES and NEW YORK - May 18, 2016 - Houlihan Lokey, Inc. (NYSE: HLI) (“Houlihan Lokey” or the “Company”) today reported financial results for its fiscal year and fourth quarter ended March 31, 2016. For the fiscal year ended March 31, 2016, total revenue was a record $694 million, an increase of 2% as compared with $681 million for the fiscal year ended March 31, 2015. Total revenue for the fourth quarter was $184 million as compared with $186 million for the fourth quarter of last year. On a GAAP basis, net income was $70 million, or $1.10 per diluted share, for fiscal year 2016, compared with $80 million, or $1.33 per diluted share, in the prior year. GAAP net income was $23 million, or $0.35 per diluted share, for the quarter ended March 31, 2016, compared with $25 million, or $0.41 per diluted share, in the fourth quarter of the prior year.
Adjusted net income increased 15% to $93 million, or $1.46 per diluted share, for fiscal year 2016, compared with $81 million, or $1.35 per diluted share, in the prior year. Adjusted net income for the fourth quarter increased 12% to $28 million, or $0.43 per diluted share, compared with $25 million, or $0.41 per diluted share, in the prior year period.
“Fiscal 2016 was another record year at Houlihan Lokey with all three of our product lines contributing solid results. As a result of a record number of mandates in corporate finance, a more attractive financial restructuring market relative to prior years and a meaningful expansion of our financial staff, we remain confident that we are well positioned to grow our business and deliver enhanced results in our ongoing efforts to build shareholder value,” stated Scott Beiser, Chief Executive Officer of Houlihan Lokey.
The following information was filed by Houlihan Lokey, Inc. (HLI) on Thursday, May 19, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.