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

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Southwind's Chief Executive Officer and founder John Deane added, "I—along with the entire Southwind team—am thrilled to join forces with the Advisory Board to continue to build a powerful portfolio focused on physician-hospital integration. I am enthusiastic about the large market opportunity ahead of us and am confident that the Advisory Board's deep knowledge base of best practices and network of over 2,800 members will enhance Southwind's footprint and impact in the health care industry."

Mr. Musslewhite concluded, "Southwind's team of executives is remarkably high caliber and shares the values that have made our firm strong for more than thirty years.  Together we will guide our members on the most pivotal set of issues facing health care.  I look forward to working with John and his team for many years to come."

Share Repurchase

During the three months ended December 31, 2009, the Company repurchased 76,230 shares of its common stock at a total cost of approximately $2.0 million.  To date the Company has repurchased 7,300,646 shares of its common stock at a total cost of approximately $307.0 million.

Outlook for Calendar Year 2010  

For calendar year 2010, we anticipate revenue to be approximately 10% higher than calendar year 2009.  We expect EBITDA in a range of approximately $36 million to $41 million, and earnings per diluted share of approximately $1.20 to $1.40. For fiscal year 2011, we expect an effective tax rate of approximately 35.5% to 36.5%.

Non-GAAP Financial Measures

This press release and the accompanying tables include a discussion of EBITDA, adjusted EBITDA, adjusted net income, and adjusted earnings p
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SOURCE The Advisory Board Company
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