Houlihan Lokey, Inc. (HLI) has reported a 49.95 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $33.98 million, or $0.51 a share in the quarter, compared with $22.66 million, or $0.35 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $37.92 million, or $0.57 a share compared with $30.90 million or $0.47 a share, a year ago.
Revenue during the quarter grew 20.51 percent to $247.68 million from $205.52 million in the previous year period.
Total expenses were $190.86 million for the quarter, up 17.93 percent or $29.02 million from year-ago period. Operating margin for the quarter expanded 169 basis points over the previous year period to 22.94 percent.
Operating income for the quarter was $56.82 million, compared with $43.69 million in the previous year period. However, the adjusted operating income for the quarter stood at $63.28 million compared to $52.75 million in the prior year period.
"We are pleased to have achieved record results for the quarter and the first nine months of the fiscal year with all three of our business segments reporting strong year-to-date revenue growth from the previous year. Our firm continues to benefit from the ongoing investments we have made over the last few years, as well as an improved business and market environment over the last quarter," stated Scott Beiser, Chief Executive Officer of Houlihan Lokey.
Real estate inventory stood at $41.76 million as on Dec. 31, 2016. Net receivables were at $41.43 million as on Dec. 31, 2016, down 40.28 percent or $27.95 million from year-ago.
Total assets grew 6.56 percent or $67.28 million to $1,093.45 million on Dec. 31, 2016. On the other hand, total liabilities were at $371.12 million as on Dec. 31, 2016, down 4.65 percent or $18.09 million from year-ago.
Return on assets moved up 90 basis points to 3.11 percent in the quarter. At the same time, return on equity moved up 116 basis points to 4.73 percent in the quarter.
Shareholders equity stood at $718.97 million as on Dec. 31, 2016, up 13.24 percent or $84.05 million from year-ago.
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