The Advisory Board Company Reports Q3 EPS of $.24 vs. $.32

The Advisory Board Company ABCO today announced financial results for the quarter ended December 31, 2010, the third quarter of its 2011 fiscal year. Revenue for the quarter increased 23.5% to $75.2 million, from $60.9 million in the quarter ended December 31, 2009. Contract value increased 18.3% to $300.2 million as of December 31, 2010, up from $253.7 million as of December 31, 2009. For the quarter ended December 31, 2010, net income was $3.9 million, or $0.24 per diluted share, and EBITDA was $8.1 million. Included in net income for the third quarter of fiscal 2011 was a fair value adjustment to one of the Company's acquisition-related earn out liabilities of $1.1 million. Excluding the effects of this adjustment, adjusted net income was $4.6 million, non-GAAP earnings per diluted share were $0.28, and adjusted EBITDA was $9.2 million for the third quarter of fiscal 2011. For the quarter ended December 31, 2009, net income was $4.3 million, or $0.27 per diluted share, and EBITDA was $7.6 million.