Houlihan Lokey, Inc. (HLI) 10-Q Quarterly Report August 2019

LOS ANGELES and NEW YORK - July 25, 2019 - Houlihan Lokey, Inc. (NYSE:HLI) (“Houlihan Lokey” or the “Company”) today reported financial results for its first quarter ended June 30, 2019. During the first quarter, revenues increased by 14% to $250 million, compared with $220 million for the first quarter ended June 30, 2018.

Net income increased 44% to $43 million, or $0.65 per diluted share, for the first quarter ended June 30, 2019, compared with $30 million, or $0.45 per diluted share, for the first quarter ended June 30, 2018. Adjusted net income for the first quarter ended June 30, 2019 grew 22% to $44 million, or $0.67 per diluted share, compared with $36 million, or $0.55 per diluted share, for the first quarter ended June 30, 2018.

"We are pleased to report record first quarter results as we kick-off our fiscal year 2020. We remain optimistic about our ability to provide long term shareholder value through our balanced business model, especially in light of current business and market conditions." stated Scott Beiser, Chief Executive Officer of Houlihan Lokey.

Selected Financial Data



(In thousands, except per share data)	U.S. GAAP
	Three Months Ended June 30,
	2019			2018
Revenues	$	250,349		$	220,002
Operating expenses:
Employee compensation and benefits	163,311			139,181
Non-compensation expenses	39,096			40,693
Operating income	47,942			40,128
Other (income)/expense, net	(1,483		)	(1,606		)
Income before provision for income taxes	49,425			41,734
Provision for income taxes	6,649			12,052
Net income attributable to Houlihan Lokey, Inc.	$	42,776		$	29,682

Diluted earnings per share	$	0.65		$	0.45

Revenues

For the first quarter ended June 30, 2019, revenues increased by 14% to $250 million, compared with $220 million for the first quarter ended June 30, 2018. For the quarter, Corporate Finance ("CF") revenues increased 1%, Financial Restructuring ("FR") revenues increased 57%, and Financial Advisory Services ("FAS") revenues increased 2% when compared with the first quarter ended June 30, 2018.

The following information was filed by Houlihan Lokey, Inc. (HLI) on Friday, July 26, 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.

Please wait while we load the requested 10-Q report or click the link below:

https://last10k.com/sec-filings/report/1302215/000130221519000054/hli-06302019x10q.htm

View differences made from one quarter to another to evaluate Houlihan Lokey, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by Houlihan Lokey, Inc..

Continue

Assess how Houlihan Lokey, Inc.'s management team is paid from their Annual Proxy

Houlihan Lokey, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

Voting Procedures
Board Members
Executive Team
Salaries, Bonuses, Perks
Peers / Competitors

Continue

Rating
Learn More

Filter Sentiment:

All

Positive

Negative

Filter Category:

All

Financial

Revenue

M & A

Other

Filter Subcategory:

All

Expense

Earnings

Dividend

Product

Geography

Other

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

Other - Other Highlight
28 28 Our liquidity is highly dependent upon cash receipts from clients which in turn 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.

Financial - Expense Highlight
Non-compensation expense, as a component of operating expenses, was $39.1 million for the three months ended June 30, 2019, compared with $40.7 million for the three months ended June 30, 2018, a decrease of 4%.
Other - Other Highlight
There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements, including but not limited to, the factors listed under the heading "Cautionary Note Regarding Forward-Looking Statements" in our Annual Report on Form 10-K for the year ended March 31, 2019 (the "2019 Annual Report").
Financial - Earnings Highlight
The loan agreement requires compliance with certain loan covenants including but not limited to the maintenance of minimum earnings before interest, taxes, depreciation and amortization of no less than $120 million as of the end of any quarterly 12-month period and certain leverage ratios including a consolidated leverage ratio of less than 1.50 to 1.00 and a consolidated fixed charge coverage ratio of greater than 1.25 to 1.00, as of the end of any quarterly 12-month period.
Financial - Expense Highlight
Accordingly, the amount of employee compensation and benefits expense recognized in any particular period may not be consistent with prior periods or indicative of future periods.
Financial - Dividend
Financing activities resulted in a...Read more
Financial - Earnings
Segment profit for FR was...Read more
Other - Other
As of June 30, 2019,...Read more
Revenue - Product
The increase in revenues was...Read more
Other - Other
We adopted the standard effective...Read more
Financial - Expense
24 24 Operating Expenses Our...Read more
Financial - Dividend
Financing activities resulted in a...Read more
M & A - Other
The Company acquired the remaining...Read more
Financial - Expense
Operating expenses were $202.4 million...Read more
Other - Other
As of June 30, 2019...Read more
Other - Other
In some cases, you can...Read more
Revenue - Product
25 25 Three Months Ended...Read more
Revenue - Product
Corporate Finance Three Months Ended...Read more
Revenue - Product
27 27 Financial Restructuring Three...Read more
Other - Other
In these instances, our fees...Read more
Financial - Expense
The decrease in non-compensation expense...Read more
Other - Other
The decrease in the Company's...Read more
Revenue - Geography
As of June 30, 2019...Read more
Other - Other
29 29 Off-Balance Sheet Arrangements...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

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: 0001302215-19-000054
Submitted to the SEC: Wed Aug 07 2019 12:56:14 PM EST
Accepted by the SEC: Wed Aug 07 2019
Period: Sunday, June 30, 2019
Industry: Investment Advice

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/hli/0001302215-19-000054.htm

Houlihan Lokey, Inc. (HLI) SEC Filing 10-Q Quarterly report for the period ending Sunday, June 30, 2019

SEC Filings

HLI Valuations

HLI Annual Reports

HLI Quarterly Reports

HLI Corporate News