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

ue health care. As part of this launch, we have been privileged to have input and support from our early Crimson partners, including Memorial Hermann Healthcare, as well as some newer Charter Members, including Eisenhower Medical Center, Palmetto Health, and Methodist Healthcare System of San Antonio."

Mr. Musslewhite concluded, "Our second launch, the Payment Navigation Performance Program, builds on our strong portfolio in the revenue cycle terrain, and addresses the intractable problem of accurately estimating a patient's financial responsibility prior to service, in order to maximize pre-registration and point-of-service collections. Through best practice research and a robust, web-based analytical tool featuring the industry's most comprehensive real-time link to payers, robust estimator logic, and links to hospital-specific contract and charge master data, the Payment Navigation Performance Program aids hospitals in reducing denials and bad debt. Early partners such as Blessing Hospital, Shields Healthcare, Dekalb Regional Medical Center and Betsy Johnson Regional Hospital have provided invaluable feedback on the analytical tool, as well as the design of the program."

Share Repurchase

During the three months ended September 30, 2009, the Company repurchased 3,872 shares of its common stock at a total cost of approximately $0.1 million. To date the Company has repurchased 7,224,416 shares of its common stock at a total cost of approximately $305.0 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. The Company expects adjusted EBITDA in a range of approximately $27 million to $33 million, and adjusted earnings per diluted share in a range of approximately $0.90 to $1.20.

Non-GAAP Financial Measures

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