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The Advisory Board Company Reports Fiscal Year 2009 Second Quarter Results
Date:11/5/2008

Company Reports Quarterly Revenue of $57.6 million, Earnings per Diluted Share of $0.32 and Contract Value of $230.6 million; Announces New Program

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WASHINGTON, Nov. 5 /PRNewswire-FirstCall/ -- The Advisory Board Company (Nasdaq: ABCO) today announced financial results for the second quarter of its fiscal year ending March 31, 2009. Revenue for the quarter increased 7% to $57.6 million, from $54.0 million in the second quarter of fiscal 2008. Net income was $5.4 million, or $0.32 per diluted share, compared to $8.5 million, or $0.45 per diluted share, for the same period a year ago. Contract value grew 6% to $230.6 million as of September 30, 2008, up from $217.5 million as of September 30, 2007.

For the six months ended September 30, 2008, revenue increased 9% to $114.8 million, from $105.1 million for the six months ended September 30, 2007. Net income for the six months ended September 30, 2008 was $11.7 million, or $0.68 per diluted share, compared to $15.6 million, or $0.83 per diluted share, for the same period a year ago.

Robert Musslewhite, Chief Executive Officer of The Advisory Board Company, commented, "Our overall performance for the quarter was in line with our expectations given the current macroeconomic environment. While we are seeing strong performance in program utilization, research quality metrics and renewal rates, the new business environment continues to be challenging due to member uncertainty about the budget outlook for 2009. As a result, the team is working hard to emphasize the strong financial impact of our best practice research and to ensure superior sales execution and new program introductions to set up future growth."

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SOURCE The Advisory Board Company
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