Company: HLI
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0001302215-25-000007
Chunk: 39

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-02-04
Form: 10-Q
Item: Part I, Item 1
Chunk 39
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 of 7%. The increase in non-compensation expense was primarily a result of an increase in information technology and communication expenses, other operating expenses, and depreciation and amortization when compared with the same period last year, partially offset by a decrease in professional fees.

Other income, net was $(18.7) million for the nine months ended December 31, 2024, compared with $(12.3) million for the nine months ended December 31, 2023. Other income, net increased primarily due to a net increase in interest income.

The provision for income taxes for the nine months ended December 31, 2024 was $103.3 million, which reflected an effective tax rate of 27.1%. The provision for income taxes for the nine months ended December 31, 2023 was $73.3 million, which reflected an effective tax rate of 26.9%.

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Business Segments

The following table presents revenues, expenses and contributions from our continuing operations by business segment. The revenues by segment represent each segment’s revenues, and the profit by segment represents profit for each segment before corporate expenses, other income, net, and income taxes.

Three Months Ended December 31,Nine Months Ended December 31,($ in thousands)20242023Change20242023ChangeRevenues by segmentCorporate Finance$421,602 $310,512 36 %$1,114,047 $819,247 36 %Financial Restructuring 130,942 128,565 2 %379,932 366,603 4 %Financial and Valuation Advisory81,884 72,053 14 %229,015 208,098 10 %Revenues$634,428 $511,130 24 %$1,722,994 $1,393,948 24 %Segment profit (1)Corporate Finance$131,552 $93,254 41 %$341,629 $245,393 39 %Financial Restructuring 44,212 43,284 2 %144,280 119,377 21 %Financial and Valuation Advisory23,337 14,332 63 %60,367 48,824 24 %Total segment profit 199,101 150,870 32 %546,276 413,594 32 %Corporate expenses (2)62,999 54,330