HOULIHAN LOKEY, INC (HLI) has reported 125.56 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $20.88 million, or $0.31 a share in the quarter, compared with $9.26 million, or $0.15 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $24.80 million, or $0.37 a share compared with $17.38 million or $0.28 a share, a year ago.
Revenue during the quarter grew 17.78 percent to $186.54 million from $158.38 million in the previous year period.
Total expenses were $151.56 million for the quarter, up 7.53 percent or $10.62 million from year-ago period. Operating margin for the quarter expanded 774 basis points over the previous year period to 18.75 percent.
Operating income for the quarter was $34.98 million, compared with $17.44 million in the previous year period. However, the adjusted operating income for the quarter stood at $41.45 million compared to $29.80 million in the prior year period.
"We finished the first half of fiscal 2017 with record results for the quarter and the first six months. All three of our business segments reported strong revenue growth from the previous year, despite a macroeconomic environment that remains directionless. These results are a testament to our diversified business model which has allowed the firm to succeed in a variety of business conditions," stated Scott Beiser, chief executive officer of Houlihan Lokey.
Real estate inventory stood at $35.66 million as on Sep. 30, 2016. Net receivables were at $45.75 million as on Sep. 30, 2016, down 58.80 percent or $65.30 million from year-ago. Accounts payable stood at $31.61 million as on Sep. 30, 2016.
Total assets went up marginally by 2.75 percent or $27 million to $1,008 million on Sep. 30, 2016. On the other hand, total liabilities were at $311.77 million as on Sep. 30, 2016, down 14.88 percent or $54.50 million from year-ago.
Return on assets moved up 113 basis points to 2.07 percent in the quarter. At the same time, return on equity moved up 150 basis points to 3.01 percent in the quarter.
Shareholders equity stood at $694.38 million as on Sep. 30, 2016, up 13.25 percent or $81.22 million from year-ago.
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