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The Advisory Board Company Reports Results For Quarter Ended 12/31/09
Date:2/4/2010

ts, net of tax, of the one-time non-cash charges incurred during the quarter ended September 30, 2009 associated with the write-off of capitalized developed software costs and the cancellation of certain stock options, adjusted net income was $12.5 million and adjusted earnings per diluted share was $0.81 for the nine months ending December 31, 2009. Adjusted EBITDA was $21.9 million for the nine months ending December 31, 2009, compared to $26.9 million for the same period a year ago.

Robert Musslewhite, Chief Executive Officer of The Advisory Board Company, commented, "Overall, we were pleased with our results for the quarter and the calendar year.  Given the challenging environment, the stability we delivered – including holding revenues steady, achieving the midpoint of our adjusted EBITDA and EPS guidance ranges, and establishing solid contract value acceleration – is a testament to the high and consistent value we deliver to our members on their most critical issues."  

Mr. Musslewhite continued, "We are gratified that we emerged from 2009 with a revenue and earnings growth trajectory as we move into 2010.  At the same time, we are also cognizant that our members still face significant challenges.  Therefore, we will continue our focus on execution across the organization, with a particular emphasis on providing relevant, timely, and actionable research, services, and tools to address members' most pressing concerns; driving innovations in sales, marketing, and account management; launching new programs consistent with our growth strategy; and continuing to build world-class talent at all levels of the organization."  

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SOURCE The Advisory Board Company
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