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The Advisory Board Company Reports Fiscal Year 2010 First Quarter Results
Date:8/4/2009

WASHINGTON, Aug. 4 /PRNewswire-FirstCall/ -- The Advisory Board Company (Nasdaq: ABCO) today announced financial results for the first quarter of its fiscal year ending March 31, 2010. Revenue for the quarter was $56.7 million, compared to $57.2 million in the first quarter of fiscal 2009. Net income was $4.2 million, or $0.27 per diluted share, compared to $6.3 million, or $0.36 per diluted share, for the same period a year ago. EBITDA, excluding foreign currency gain, was $7.3 million for the quarter, compared to $9.4 million in the first quarter of fiscal 2009. Contract value grew 0.2% to $232.8 million as of June 30, 2009, up from $232.3 million as of June 30, 2008.

Robert Musslewhite, Chief Executive Officer of The Advisory Board Company, commented, "Our overall performance for the quarter was in line with our expectations. Despite the ongoing budget pressures our members face, which continue to impact both renewals and sales, we are pleased that our contract value has remained steady, demonstrating our ability to address our members' most critical issues through programs that deliver tangible value."

Mr. Musslewhite concluded, "Our membership today faces unprecedented complexity. In addition to weathering the effects of the broader economy, these institutions must also track the health care reform debate and prepare for the implications of a range of possible outcomes. Each day, our network of more than 13,000 executives looks to our proven best practices, expert insight, and practical tools to navigate this demanding terrain. Our position as trusted advisor to this network is the result of our ongoing track record of providing meaningful impact on members' key issues, and we are confident that our work with them through this period will further strengthen our relationships and serve a
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SOURCE The Advisory Board Company
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