WASHINGTON, July 29 /PRNewswire-FirstCall/ -- The Advisory Board Company (Nasdaq: ABCO) today announced financial results for the quarter ended June 30, 2010, the first quarter of its fiscal year. Revenue for the quarter increased 17.6% to $66.7 million, from $56.7 million in the quarter ended June 30, 2009. Contract value increased 17.8% to $274.4 million as of June 30, 2010, up from $232.8 million as of June 30, 2009. Net income was $4.6 million, or $0.29 per diluted share for the quarter ended June 30, 2010, compared to net income of $4.2 million, or $0.27 per diluted share, for the same period a year ago. EBITDA was $9.5 million for the quarter, compared to $7.5 million in the first quarter of fiscal 2010.
Robert Musslewhite, Chief Executive Officer of The Advisory Board Company, commented, "We are pleased with our performance for the quarter and with the continuation of our good start to 2010, as we see an ongoing return from the investment strategy we pursued last year. While our members face a unique period of tremendous change and uncertainty, they are attaching more value than ever to our agendas, tools, and services, and we continue to deliver strong and measurable bottom-line impact to them through our work. We are gratified that we are able to sustain both our stable financial performance and our position as trusted advisor and leading service provider to the
health care industry through the meaningful impact we consistently have on our members' most critical--and most complex--problems."
Mr. Musslewhite continued, "One area of tremendous complexity for our members is the Information Technology terrain, and I am pleased to announce today the launch of our Applications and Technologies Collaborative. This renewable research program provides member CIOs and professional IT staff with detailed research on emerging and disruptive technologies, delivering the information required to choose and implement these technologies to achieve health system g ...
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