HLI FY 2015 Earnings Report — Houlihan Lokey, Inc. Revenue & Financial Results | Market Cap Arena

Houlihan Lokey, Inc.HLI

FY 2015 Earnings

Reported March 30, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2015	Prior Q	FY 2014	QoQ Change	YoY Change
Revenue	$681M	—	$592M	—	14.9%
Op. Income	$129M	—	$103M	—	25.1%
Gross Margin	30.2%	—	30.0%	—	0.3pp
Net Margin	11.7%	—	10.4%	—	1.4pp
EPS (Diluted)	$1.32	—	$1.01	—	30.7%
Free Cash Flow	$192M	—	$163M	—	17.9%

Revenue Flow

Item	Amount
REVENUE	$681M
Cost of Revenue	$475M
GROSS PROFIT	$206M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$44M
SG&A Expenses	$44M
Other Expenses	$33M
Operating Expenses	$77M
Cost & Expenses	$552M
OPERATING INCOME	$129M
Interest Income	$4M
Interest Expense	$0
Other Income/Expenses	$3M
INCOME BEFORE TAX	$132M
Income Tax Expense	$52M
Net Income from Continuing Ops	$80M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$80M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$80M
D&A	$6M
EBIT	$129M
EBITDA	$134M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$681M
Cost of Revenue	$475M
GROSS PROFIT	$206M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$44M
SG&A Expenses	$44M
Other Expenses	$33M
Operating Expenses	$77M
Cost & Expenses	$552M
OPERATING INCOME	$129M
Interest Income	$4M
Interest Expense	$0
Other Income/Expenses	$3M
INCOME BEFORE TAX	$132M
Income Tax Expense	$52M
Net Income from Continuing Ops	$80M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$80M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$80M
D&A	$6M
EBIT	$129M
EBITDA	$134M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$80M
Depreciation & Amortization	$6M
Stock-Based Compensation	$23M
Deferred Income Tax	-$7M
Other Non-Cash Items	$3M
Change in Working Capital	$92M
OPERATING CASH FLOW	$197M
Capital Expenditure	-$5M
Acquisitions (Net)	-$5M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$204M
NET CASH FROM INVESTING	-$213M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$2M
Other Financing Activities	$635.0K
NET CASH FROM FINANCING	-$2M
FREE CASH FLOW	$192M
Net Change in Cash	-$21M

Balance Sheet

Item	Amount
Cash & Equivalents	$89M
Short-Term Investments	$0
Net Receivables	$428M
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$517M
PP&E (Net)	$16M
Goodwill	$456M
Intangible Assets	$197M
Long-Term Investments	$13M
Tax Assets	$0
Other Non-Current Assets	$31M
TOTAL NON-CURRENT ASSETS	$713M
TOTAL ASSETS	$1.2B
Account Payables	$37M
Short-Term Debt	$0
Deferred Revenue	$3M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$351M
Long-Term Debt	$0
Deferred Revenue NC	$3M
Deferred Tax Liabilities	$41M
Other Non-Current Liabilities	$8M
TOTAL NON-CURRENT LIABILITIES	$53M
TOTAL LIABILITIES	$404M
Common Stock	$59.0K
Additional Paid-In Capital	$670M
Retained Earnings	$171M
Treasury Stock	$0
Accum. Other Comp. Income	-$11M
Other Equity	-$7M
TOTAL STOCKHOLDERS' EQUITY	$823M
Minority Interest	$3M
TOTAL EQUITY	$826M
TOTAL LIABILITIES & EQUITY	$1.2B
Total Debt	$0
Net Debt	-$89M