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Houlihan Lokey, Inc. (HLI) SEC Filing 10-K Annual Report for the fiscal year ending Wednesday, March 31, 2021

Houlihan Lokey, Inc.

CIK: 1302215 Ticker: HLI
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Houlihan Lokey Reports Fiscal Year and Fourth Quarter 2021 Financial Results

Record Fiscal Year 2021 Revenues of $1.53 billion
Fiscal Year 2021 Diluted EPS of $4.55
Adjusted Fiscal Year 2021 Diluted EPS of $4.62

Fourth Quarter Fiscal 2021 Revenues of $501 million
Fourth Quarter Fiscal 2021 Diluted EPS of $1.44
Adjusted Fourth Quarter Fiscal 2021 Diluted EPS of $1.51

Announces a 30% Increase in the Quarterly Dividend to $0.43 per Share

LOS ANGELES and NEW YORK - May 11, 2021 - Houlihan Lokey, Inc. (NYSE:HLI) (“Houlihan Lokey” or the “Company”) today reported financial results for its fiscal year and fourth quarter ended March 31, 2021. For the fiscal year, revenues grew 32% to a fiscal year record of $1.53 billion, compared with $1.16 billion for the fiscal year ended March 31, 2020. For the fourth quarter ended March 31, 2021, revenues increased 65% to $501 million, compared with $303 million for the fourth quarter ended March 31, 2020.
Net income was $313 million, or $4.55 per diluted share, for the fiscal year ended March 31, 2021, compared with $184 million, or $2.80 per diluted share, for the fiscal year ended March 31, 2020. Adjusted net income for the fiscal year ended March 31, 2021 grew 51% to $317 million, or $4.62 per diluted share, compared with $211 million, or $3.20 per diluted share, for the fiscal year ended March 31, 2020.
Net income was $99 million, or $1.44 per diluted share, for the fourth quarter ended March 31, 2021, compared with $59 million, or $0.90 per diluted share, for the fourth quarter ended March 31, 2020. Adjusted net income for the fourth quarter ended March 31, 2021 was $104 million, or $1.51 per diluted share, compared with $63 million, or $0.96 per diluted share, for the fourth quarter ended March 31, 2020.
“Fiscal 2021 was a roller coaster year, with the first half led by restructuring and then followed by a very robust market for our M&A and valuation businesses. Houlihan Lokey’s employees, once again, rose to the challenge and achieved record revenues for the 9th consecutive fiscal year. Our business performed exceptionally well and all three product lines did as they were designed to do. We remain committed to building upon a business model that will continue to provide growth and stability to our stakeholders” stated Scott Beiser, Chief Executive Officer of Houlihan Lokey.

Selected Financial Data
(In thousands, except per share data)
U.S. GAAP
Three Months Ended March 31,Year Ended March 31,
2021202020212020
Revenues
$500,704 $302,694 $1,525,452 $1,159,368 
Operating expenses:
Employee compensation and benefits317,082 186,706 971,195 737,762 
Non-compensation expenses43,346 47,333 146,100 192,005 
Operating income
140,276 68,655 408,157 229,601 
Other (income)/expense, net473 (2,259)(1,071)(6,046)
Income before provision for income taxes
139,803 70,914 409,228 235,647 
Provision for income taxes
40,437 11,900 96,457 51,854 
Net income attributable to Houlihan Lokey, Inc.
$99,366 $59,014 $312,771 $183,793 
Diluted earnings per share
$1.44 $0.90 $4.55 $2.80 
1

The following information was filed by Houlihan Lokey, Inc. (HLI) on Wednesday, May 12, 2021 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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Inside Houlihan Lokey, Inc.'s 10-K Annual Report:
Ticker: HLI
CIK: 1302215
Form Type: 10-K Annual Report
Accession Number: 0001302215-21-000027
Submitted to the SEC: Fri May 21 2021 4:50:48 PM EST
Accepted by the SEC: Fri May 21 2021
Period: Wednesday, March 31, 2021
Industry: Investment Advice

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