Houlihan Lokey posted higher first-quarter earnings that topped analysts' expectations. The investment bank reported net income of $97.5 million, or $1.42 a share, up from $88.9 million, or $1.30 a share, a year earlier.

LOS ANGELES (AP) — LOS ANGELES (AP) — Houlihan Lokey Inc. (HLI) on Tuesday reported fiscal first-quarter profit of $97.5 million. The Los Angeles-based company said it had profit of $1.42 per share. Earnings, adjusted for non-recurring costs, were $2.14 per share.

Houlihan Lokey (HLI) came out with quarterly earnings of $2.14 per share, beating the Zacks Consensus Estimate of $1.69 per share. This compares to earnings of $1.22 per share a year ago. These figures are adjusted for non-recurring items.