The Advisory Board Company announced unaudited consolidated earnings results for the fourth quarter and year ended March 31, 2013. For the quarter, the company reported statements of income revenue of $119,706,000 against $100,483,000 a year ago. Operating income was $12,662,000 against $10,887,000 a year ago. Net income from continuing operations was $6,399,000 against $6,057,000 a year ago. Net income attributable to common stockholders was $6,399,000 or $0.18 per diluted share against $8,167,000 or $0.17 per diluted share a year ago. Adjusted EBITDA was $22,738,000 against $19,786,000 a year ago. Adjusted net income was $12,164,000 against $11,053,000 a year ago. Non-GAAP earnings per diluted share were $0.33 against $0.31 a year ago. Capital expenditures for three months ended March 31, 2013, were approximately $11 million compared to $7.4 million for the three months ended March 31, 2012. During the three months ended March 31, 2013, the company cash generated from operating activity was $7.9 million compared to $25.7 million in the same quarter last year. The decrease in cash flows from operations for the quarter ended March 31, 2013, is primarily timing related as the company finished the fiscal year with cash flow from operations of 1.8x adjusted net income, which is within its historical range of 1.5x to 2x. For the year, the company reported statements of income revenue of $450,837,000 against $370,345,000 a year ago. Operating income was $43,466,000 against $36,358,000 a year ago. Net income from continuing operations was $22,055,000 against $22,852,000 a year ago. Net income attributable to common stockholders was $22,163,000 or $0.61 per diluted share against $25,293,000 or $0.66 per diluted share a year ago. Net cash flows provided by operating activities were $81,058,000 against $92,732,000 a year ago. Purchases of property and equipment were $35,545,000 against $29,194,000 a year ago. Adjusted EBITDA was $82,982,000 against $70,326,000 a year ago. Adjusted net income was $44,814,000 against $39,384,000 a year ago. Non-GAAP earnings per diluted share were $1.23 against $1.13 a year ago. Total deferred revenue, net of amounts that it builds up to twelve months, increased to $484.3 million as of March 31, 2013, up from $392.5 million as of March 31, 2012. Excluding long-term deferred, the current portion of deferred revenue balance as of March 31, 2013, were $386.7 million, up 23% over the prior year. The company reaffirmed its previously announced calendar year 2013 guidance for revenue, adjusted EBITDA, and non-GAAP earnings per diluted share. For calendar year 2013, the Company expects revenue to be in a range of approximately $495 million to $505 million, adjusted EBITDA to be in a range of approximately $90 million to $95 million, and non-GAAP earnings per diluted share to be in a range of approximately $1.18 to $1.28. For calendar year 2013, the company expects share-based compensation expense to be approximately $17.5 million, and amortization of acquisition-related intangible assets to be approximately $7 million. For fiscal year 2014, the company expects an effective tax rate in a range of approximately 38% to 39%.

The Advisory Board Company, Q4 2013 Earnings Call, May 09, 2013

The Advisory Board Company announced that they will report Q4, 2013 results at 5:00 PM, Eastern Standard Time on May 09, 2013