Houlihan Lokey, Inc. (HLI) 10-K Annual Report Tue Jun 13 2017

LOS ANGELES and NEW YORK - May 9, 2017 - Houlihan Lokey, Inc. (NYSE: HLI) (“Houlihan Lokey”, or the “Company”) today reported financial results for its fiscal year and fourth quarter ended March 31, 2017. For the fiscal year, total revenue grew 26% to a fiscal year record of $872 million, compared with $694 million for the fiscal year ended March 31, 2016. For the fourth quarter ended March 31, 2017, total revenue grew 40% to a record $257 million, compared with $184 million for the fourth quarter ended March 31, 2016.

Net income grew 55% to $108 million, or $1.63 per diluted share, for the fiscal year ended March 31, 2017, compared with $70 million, or $1.10 per diluted share, for the fiscal year ended March 31, 2016. Adjusted net income for the fiscal year ended March 31, 2017 grew 35% to $126 million, or $1.89 per diluted share, compared with $93 million, or $1.46 per diluted share, for the fiscal year ended March 31, 2016.

Net income grew 50% to $34 million, or $0.51 per diluted share, for the fourth quarter ended March 31, 2017, compared with $23 million, or $0.35 per diluted share, for the fourth quarter ended March 31, 2016. Adjusted net income for the fourth quarter ended March 31, 2017 grew 42% to $39 million, or $0.59 per diluted share, compared with $28 million, or $0.43 per diluted share, for the fourth quarter ended March 31, 2016.

"Fiscal 2017 was another record year at Houlihan Lokey with all three of our business segments reporting significant year-over-year revenue growth. In light of a stable M&A and financing environment and evolving pockets of distressed situations, we continue to see positive momentum heading into our fiscal 2018, ” stated Scott Beiser, Chief Executive Officer of Houlihan Lokey.

Selected Financial Data

(Unaudited and in thousands, except per share data)



	U.S. GAAP
	Three Months Ended March 31,						Twelve Months Ended March 31,
	2017			2016			2017			2016
Fee revenue		$257,100			$183,596			$872,091			$693,765
Operating expenses:
Employee compensation and benefits	170,567			120,683			582,244			461,609
Non-compensation expenses	29,199			21,416			107,852			105,756
Total operating expenses	199,766			142,099			690,096			567,365
Operating income	57,334			41,497			181,995			126,400
Other income (expense), net	(767		)	(664		)	(3,508		)	(770		)
Income before provision for income taxes	56,567			40,833			178,487			125,630
Provision for income taxes	22,491			18,053			70,144			55,863
Net income	34,076			22,780			108,343			69,767
Net income attributable to noncontrolling interests	—			—			—			(26		)
Net income attributable to Houlihan Lokey, Inc.		$34,076			$22,780			$108,343			$69,741

Diluted net income per share of common stock		$0.51			$0.35			$1.63			$1.10

The following information was filed by Houlihan Lokey, Inc. (HLI) on Wednesday, May 10, 2017 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.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Houlihan Lokey, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 23.1: Consents Of Experts And Counsel

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: HLI
CIK: 1302215
Form Type: 10-K Annual Report
Accession Number: 0001302215-17-000027
Submitted to the SEC: Tue Jun 13 2017 5:32:21 PM EST
Accepted by the SEC: Tue Jun 13 2017
Period: Friday, March 31, 2017
Industry: Investment Advice

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Houlihan Lokey, Inc. (HLI) SEC Filing 10-K Annual report for the fiscal year ending Friday, March 31, 2017

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