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

s a building-block for our continued growth and long-term success."

Share Repurchase

During the three months ended June 30, 2009, the Company repurchased 34,982 shares of its common stock at a total cost of approximately $0.9 million. To date the Company has repurchased 7,220,544 shares of its common stock at a total cost of approximately $304.9 million.

Outlook for the Remainder of Calendar Year 2009

As previously announced, the Company expects calendar year 2009 revenue to be within a few percentage points of calendar year 2008 revenue, EBITDA, excluding foreign currency gains and losses, in a range of approximately $27 million to $33 million, and earnings per diluted share in a range of approximately $0.90 to $1.20.

Non-GAAP Financial Measure

EBITDA is a non-GAAP financial measure provided as a complement to financial measures prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). As used in this release, the term "EBITDA" refers to a financial measure that we define as earnings before Other income, net, which includes interest income and foreign currency gain; income taxes; and depreciation and amortization. This non-GAAP measure may be considered in addition to financial measures prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP measures or results. Furthermore, we intend to continue to provide this non-GAAP financial measure as part of our future earnings discussions and, therefore, the inclusion of this non-GAAP financial measure will provide consistency in our financial reporting. We believe that EBITDA is relevant and useful information for our investors. We use this non-GAAP financial measure for internal budgeting and other managerial purposes because it enables the Company's management to evaluate projected op
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