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The Advisory Board Company Reports Fiscal Year 2010 Second Quarter Results
Date:11/2/2009

2009 2008 ---- ---- Cash flows from operating activities: Net income $2,072 $11,733 Adjustments to reconcile net income to net cash provided by (used in) operating activities : Depreciation 3,621 2,410 Write-off of capitalized software 7,397 - Amortization of intangible assets 536 446 Deferred income taxes (5,943) 797 Excess tax benefits from stock-based payments - (291) Stock-based compensation expense 7,871 6,333 Amortization of marketable securities premiums 310 410 Changes in operating assets and liabilities: Member fees receivable (10,776) (9,298) Prepaid expenses and other current assets 1,241 1,172 Deferred incentive compensation and other charges (3,464) 582 Deferred revenues 3,750 2,136 Accounts payable and accrued liabilities 3,469 (128) Accrued incentive compensation (978) (3,855) Other long-term liabilities (321) (100) ---- ---- Net cash flows provided by operating activities 8,785 12,347 ----- ------ Cash flows from investing activities: Purchases of property and equipmen
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