Century City investment bank Houlihan Lokey Inc’s second quarter earnings report showed revenues were up 18 percent over the same period last year with the company bringing in $187 million in the second quarter.

The company reported Tuesday its net income was $21 million, or $0.31 per diluted share, a 121 percent increase on Houlihan’s 2015 Q2 numbers.

Houlihan chief executive Scott Beiser said during an earnings call that the company had closed a record number of deals in the quarter despite a soft market.

“For our Corporate Finance business, we closed more transactions this quarter than any other previous quarter,” Beiser said in an earnings call on Tuesday. “We continue to see solid results in corporate finance, notwithstanding that the number of U.S. and global mid-cap transactions has declined over each of the last several quarters.”

Houlihan’s stock has fallen 3.1 percent to $23.41 since the announcement.

For reprint and licensing requests for this article, CLICK HERE.