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Houlihan Lokey, Inc. (HLI) SEC Filing 10-Q Quarterly report for the period ending Monday, December 31, 2018

Houlihan Lokey, Inc.

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CIK: 1302215 Ticker: HLI
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Houlihan Lokey Reports Third Quarter Fiscal 2019 Financial Results

– Third Quarter Fiscal 2019 Revenues of $298 million –
– Third Quarter Fiscal 2019 Diluted EPS of $0.67 –
– Adjusted Third Quarter Fiscal 2019 Diluted EPS of $0.77 –
– Announces Dividend of $0.27 per Share for Fourth Quarter Fiscal 2019 –


LOS ANGELES and NEW YORK - January 29, 2019 - Houlihan Lokey, Inc. (NYSE:HLI) (“Houlihan Lokey” or the “Company”) today reported financial results for its third fiscal quarter ended December 31, 2018. For the third quarter, revenues increased 15% to $298 million, compared with $259 million for the third quarter ended December 31, 2017.
Net income decreased 29% to $44 million, or $0.67 per diluted share, for the third quarter ended December 31, 2018, compared with $62 million, or $0.93 per diluted share, for the third quarter ended December 31, 2017. Adjusted net income for the third quarter ended December 31, 2018 grew 11% to $51 million, or $0.77 per diluted share, compared with $46 million, or $0.69 per diluted share, for the third quarter ended December 31, 2017.
"We had a strong third quarter, and we continue to see solid momentum across all three product lines as we enter a new calendar year. The firm received several important accolades this quarter, including being named as the #1 M&A advisor for all U.S. transactions under $1 billion in 2018 and the #1 global financial restructuring advisor in 2018, both in terms of number of transactions and value. We are also excited about reaching the $1 billion milestone based on our latest twelve months' revenues through the end of the third quarter. We achieved this milestone as a result of a strong commitment by all of us at Houlihan Lokey to drive shareholder value by investing in growth. I want to thank every employee at HLI for their contribution to helping us achieve this milestone." 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
December 31,
 
Nine Months Ended
December 31,
2018
 
2017
 
2018
 
2017
Revenues

$298,013

 

$258,937

 

$793,007

 

$718,611

Operating expenses:

 

 

 

Employee compensation and benefits
187,180

 
174,308

 
501,682

 
481,112

Non-compensation expenses
48,574

 
30,144

 
132,763

 
82,815

Operating income
62,259

 
54,485

 
158,562

 
154,684

Other (income) expense, net
(672
)
 
(632
)
 
(3,285
)
 
(2,338
)
Income before provision for income taxes
62,931

 
55,117

 
161,847

 
157,022

Provision for income taxes
18,974

 
(6,466
)
 
48,089

 
22,838

Net income attributable to Houlihan Lokey, Inc.

$43,957

 

$61,583

 

$113,758

 

$134,184

 
 
 
 
 
 
 
 
Diluted net income per share of common stock

$0.67

 

$0.93

 

$1.72

 

$2.02


1
The following information was filed by Houlihan Lokey, Inc. (HLI) on Wednesday, January 30, 2019 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Houlihan Lokey, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (Parenthetical)
Allowance For Uncollectible Accounts Receivable
Allowance For Uncollectible Accounts Receivable (Details)
Allowance For Uncollectible Accounts Receivable (Tables)
Background
Background (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Future Minimum Annual Noncancelable Rental Commitments (Details)
Commitments And Contingencies - Narrative (Details)
Commitments And Contingencies - Schedule Of Loan Payments (Details)
Employee Benefit Plans
Employee Benefit Plans (Tables)
Employee Benefit Plans - Activity In Equity Classified Share Awards (Details)
Employee Benefit Plans - Activity In Liability Classified Shares (Details)
Employee Benefit Plans - Defined Contribution Plans (Narrative) (Details)
Employee Benefit Plans - Share-Based Incentive Plans (Narrative) (Details)
Fair Value Measurements And Financial Instruments
Fair Value Measurements And Financial Instruments (Details)
Fair Value Measurements And Financial Instruments (Tables)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Finite-Lived Intangible Assets, Additional Information (Details)
Goodwill And Other Intangible Assets - Finite-Lived Intangible Assets, Amortization Expense, Fiscal Year Maturity (Details)
Goodwill And Other Intangible Assets - Goodwill By Business Segments (Details)
Goodwill And Other Intangible Assets - Schedule Of Goodwill And Other Intangible Assets (Details)
Income Taxes
Income Taxes (Details)
Investment Securities
Investment Securities (Tables)
Investment Securities - Schedule Of Amortized Cost, Gross Unrealized Gains And Losses, And Fair Value Of Securities Held To Maturity (Details)
Investment Securities - Schedule Of Maturities Of Debt Securities (Details)
Loans Payable
Loans Payable (Details)
Net Income Per Share Attributable To Common Shareholders
Net Income Per Share Attributable To Common Shareholders (Details)
Net Income Per Share Attributable To Common Shareholders (Tables)
Other Comprehensive Income And Accumulated Other Comprehensive Loss
Other Comprehensive Income And Accumulated Other Comprehensive Loss (Details)
Other Comprehensive Income And Accumulated Other Comprehensive Loss (Tables)
Property And Equipment
Property And Equipment (Details)
Property And Equipment (Tables)
Related Party Transactions
Related Party Transactions (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Effect Of The Revenue Recognition (Details)
Revenue Recognition - Narrative (Details)
Revenue Recognition - Summary Of Receivables, Contract Assets, And Contract Liabilities (Details)
Segment And Geographical Information
Segment And Geographical Information (Tables)
Segment And Geographical Information - Revenue And Assets By Geographical Areas (Details)
Segment And Geographical Information - Revenue And Assets By Segment (Details)
Stockholders' Equity
Stockholders' Equity (Details)
Subsequent Events
Subsequent Events (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies (Tables)
Summary Of Significant Accounting Policies - Narrative (Details)
Summary Of Significant Accounting Policies - Reconciliation Of Cash, Cash Equivalents, And Restricted Cash (Details)

Material Contracts, Statements, Certifications & more

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

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-Q Quarterly Report
Accession Number: 0001302215-19-000008
Submitted to the SEC: Tue Feb 05 2019 11:15:31 AM EST
Accepted by the SEC: Tue Feb 05 2019
Period: Monday, December 31, 2018
Industry: Investment Advice

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