HLI FY 2014 Earnings Report — Houlihan Lokey, Inc. Revenue & Financial Results | Market Cap Arena

Houlihan Lokey, Inc.HLI

FY 2014 Earnings

Reported March 30, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$592M	—	$520M	—	13.9%
Op. Income	$103M	—	$95M	—	7.8%
Gross Margin	30.0%	—	100.0%	—	-70.0pp
Net Margin	10.4%	—	11.3%	—	-1.0pp
EPS (Diluted)	$1.01	—	$1.00	—	1.0%
Free Cash Flow	$163M	—	$122M	—	33.9%

Revenue Flow

Item	Amount
REVENUE	$592M
Cost of Revenue	$415M
GROSS PROFIT	$178M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$38M
SG&A Expenses	$38M
Other Expenses	$37M
Operating Expenses	$75M
Cost & Expenses	$490M
OPERATING INCOME	$103M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$2M
INCOME BEFORE TAX	$105M
Income Tax Expense	$44M
Net Income from Continuing Ops	$61M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$61M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$61M
D&A	$6M
EBIT	$103M
EBITDA	$109M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$592M
Cost of Revenue	$415M
GROSS PROFIT	$178M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$38M
SG&A Expenses	$38M
Other Expenses	$37M
Operating Expenses	$75M
Cost & Expenses	$490M
OPERATING INCOME	$103M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$2M
INCOME BEFORE TAX	$105M
Income Tax Expense	$44M
Net Income from Continuing Ops	$61M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$61M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$61M
D&A	$6M
EBIT	$103M
EBITDA	$109M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$61M
Depreciation & Amortization	$6M
Stock-Based Compensation	$22M
Deferred Income Tax	-$7M
Other Non-Cash Items	$2M
Change in Working Capital	$80M
OPERATING CASH FLOW	$165M
Capital Expenditure	-$2M
Acquisitions (Net)	-$9M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$111M
NET CASH FROM INVESTING	-$122M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$1M
Other Financing Activities	-$2M
NET CASH FROM FINANCING	-$3M
FREE CASH FLOW	$163M
Net Change in Cash	$41M

Balance Sheet

Item	Amount
Cash & Equivalents	$109M
Short-Term Investments	$0
Net Receivables	$260M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$370M
PP&E (Net)	$16M
Goodwill	$446M
Intangible Assets	$197M
Long-Term Investments	$14M
Tax Assets	$0
Other Non-Current Assets	$18M
TOTAL NON-CURRENT ASSETS	$691M
TOTAL ASSETS	$1.1B
Account Payables	$36M
Short-Term Debt	$0
Deferred Revenue	$5M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$291M
Long-Term Debt	$0
Deferred Revenue NC	$5M
Deferred Tax Liabilities	$49M
Other Non-Current Liabilities	$1M
TOTAL NON-CURRENT LIABILITIES	$56M
TOTAL LIABILITIES	$346M
Common Stock	$59.0K
Additional Paid-In Capital	$637M
Retained Earnings	$92M
Treasury Stock	$0
Accum. Other Comp. Income	-$9M
Other Equity	-$8M
TOTAL STOCKHOLDERS' EQUITY	$712M
Minority Interest	$3M
TOTAL EQUITY	$715M
TOTAL LIABILITIES & EQUITY	$1.1B
Total Debt	$0
Net Debt	-$109M