Page 1

HOULIHAN LOKEY LOS ANGELES and NEW YORK - August 3 , 2021 - Houlihan Lokey , Inc. ( NYSE : HLI ) ( " Houlihan Lokey " or the " Company " ) today reported financial results for its first quarter ended June 30 , 2021. For the first quarter ended June 30 , 2021 , revenues were $ 373 million , compared with $ 211 million for the first quarter ended June 30 , 2020 . Houlihan Lokey Reports First Quarter Fiscal 2022 Financial Results Net income was $ 86 million , or $ 1.25 per diluted share , for the first quarter ended June 30 , 2021 , compared with $ 46 million , or $ 0.69 per diluted share , for the first quarter ended June 30 , 2020. Adjusted net income for the first quarter ended June 30 , 2021 was $ 82 million , or $ 1.19 per diluted share , compared with $ 38 million , or $ 0.56 per diluted share , for the first quarter ended June 30 , 2020 . " We are pleased to report record first quarter results as we kick - off our fiscal year 2022. Over the last five quarters , our bull / bear , cyclically balanced model performed as we expected it to , and we continue to experience strong market momentum coming out of the pandemic . In addition to reporting earnings , we made a separate announcement yesterday regarding our acquisition agreement with GCA Corporation ( “ GCA ” ) . We are excited about the prospect of acquiring GCA , which we believe solidifies our presence in the technology industry and continues to expand our global reach . We look forward to welcoming our new colleagues into the firm once we close the tender offer process . " stated Scott Beiser , Chief Executive Officer of Houlihan Lokey . Selected Financial Data Non - compensation Operating income - First Quarter Fiscal 2022 Revenues of $ 373 million . - First Quarter Fiscal 2022 Diluted EPS of $ 1.25 - - Adjusted First Quarter Fiscal 2022 Diluted EPS of $ 1.19 - Announces Dividend of $ 0.43 per Share for Second Quarter Fiscal 2022 - ( In thousands , except per share data ) Revenues Operating expenses : Employee compensation and benefits Other income , net Income before provision / ( benefit ) for income taxes Provision / ( benefit ) for income taxes Net income attributable to Houlihan Lokey , Inc. Diluted earnings per share Revenues $ 1 $ $ U.S. GAAP Three Months Ended June 30 , 2021 2020 372,722 $ 232,304 32,742 107,676 ( 101 ) 107,777 21,817 85,960 $ 1.25 $ 211,136 137 , 121 31,425 42,590 ( 1,161 ) 43,751 ( 2,349 ) 46,100 0.69 For the first quarter ended June 30 , 2021 , revenues were $ 373 million , compared with $ 211 million for the first quarter ended June 30 , 2020. For the first quarter ended June 30 , 2021 , Corporate Finance ( " CF " ) revenues increased 139 % , Financial Restructuring ( " FR " ) revenues increased 11 % , and Financial and Valuation Advisory ( FVA " ) revenues increased 85 % when compared with the first quarter ended June 30 , 2020 .