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

Houlihan Lokey, Inc.

CIK: 1302215 Ticker: HLI
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Houlihan Lokey Reports Second Quarter Fiscal 2020 Financial Results

Second Quarter Fiscal 2020 Revenues of $273 million
Second Quarter Fiscal 2020 Diluted EPS of $0.50
Adjusted Second Quarter Fiscal 2020 Diluted EPS of $0.70
Announces Dividend of $0.31 per Share for Third Quarter Fiscal 2020

LOS ANGELES and NEW YORK - October 24, 2019 - Houlihan Lokey, Inc. (NYSE:HLI) (“Houlihan Lokey” or the “Company”) today reported financial results for its second quarter ended September 30, 2019. For the second quarter ended September 30, 2019, revenues were $273 million compared with $275 million for the second quarter ended September 30, 2018.
Net income was $33 million, or $0.50 per diluted share, for the second quarter ended September 30, 2019, compared with $40 million, or $0.61 per diluted share, for the second quarter ended September 30, 2018. Adjusted net income for the second quarter ended September 30, 2019 was $46 million, or $0.70 per diluted share, compared with $46 million, or $0.70 per diluted share, for the second quarter ended September 30, 2018.
"We are very pleased with our second quarter and first half results.  All three product lines have shown growth year-to-date and we enter the second half of our fiscal year with solid momentum across all our businesses.  Client confidence and M&A transaction activity remain strong and there are enough pockets of business disruption to maintain strength in our restructuring business.  Our positive financial results continue to reflect the benefits of our balanced and diversified business model in today’s uncertain macroeconomic 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 September 30,
 
Six Months Ended September 30,
2019
 
2018
 
2019
 
2018
Revenues
$
272,810

 
$
274,992

 
$
523,159

 
$
494,994

Operating expenses:

 

 

 

Employee compensation and benefits
174,638

 
175,321

 
337,949

 
314,501

Non-compensation expenses
53,019

 
43,496

 
92,280

 
84,188

Operating income
45,153

 
56,175

 
92,930

 
96,305

Other (income)/expense, net
(1,101
)
 
(1,007
)
 
(2,748
)
 
(2,613
)
Income before provision for income taxes
46,254

 
57,182

 
95,678

 
98,918

Provision for income taxes
13,144

 
17,063

 
19,793

 
29,115

Net income attributable to Houlihan Lokey, Inc.
$
33,110

 
$
40,119

 
$
75,885

 
$
69,803

 
 
 
 
 
 
 
 
Diluted earnings per share
$
0.50

 
$
0.61

 
$
1.15

 
$
1.06


Revenues

For the second quarter ended September 30, 2019, Corporate Finance ("CF") revenues increased 7%, Financial Restructuring ("FR") revenues decreased (17)%, and Financial Advisory Services ("FAS") revenues increased 9% when compared with the second quarter ended September 30, 2018.


1

The following information was filed by Houlihan Lokey, Inc. (HLI) on Friday, October 25, 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
Accumulated Other Comprehensive (Loss)
Accumulated Other Comprehensive (Loss) (Details)
Accumulated Other Comprehensive (Loss) (Tables)
Allowance For Doubtful Accounts
Allowance For Doubtful Accounts (Details)
Allowance For Doubtful Accounts (Tables)
Background
Background (Details)
Commitments And Contingencies
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
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
Fair Value Measurements (Details)
Fair Value Measurements (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 - 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)
Leases
Leases (Tables)
Leases - Lease Cost (Details)
Leases - Maturity Of Existing Operating Leases (Details)
Leases - Narrative (Details)
Leases - Supplemental Cash Flow Information (Details)
Leases - Weighted Average Details (Details)
Loans Payable
Loans Payable - Narrative (Details)
Loans Payable - Schedule Of Loan Repayments (Details)
Loans Payable Loans Payable (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 - 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

Ticker: HLI
CIK: 1302215
Form Type: 10-Q Quarterly Report
Accession Number: 0001302215-19-000063
Submitted to the SEC: Fri Nov 01 2019 1:32:17 PM EST
Accepted by the SEC: Fri Nov 01 2019
Period: Monday, September 30, 2019
Industry: Investment Advice

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