LOS ANGELES (AP) — LOS ANGELES (AP) — Houlihan Lokey Inc. (HLI) on Wednesday reported fiscal fourth-quarter net income of $99.8 million.
The Los Angeles-based company said it had profit of $1.47 per share. Earnings, adjusted for non-recurring costs, were $1.63 per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.84 per share.
The investment banking company posted revenue of $635.6 million in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $687.1 million.
For the year, the company reported profit of $425.7 million, or $6.22 per share. Revenue was reported as $2.62 billion.
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