The Advisory Board Co. (ABCO: Quote) Wednesday said its profit for the fourth quarter increased, driven mainly by a surge in revenues.
The Washington-based company reported fourth-quarter net profit of $8.17 million or $0.46 per share, compared to $5.11 million or $0.30 per share last year.
Adjusted net income for the quarter rose to $11.05 million or $0.62 per share from $7.28 million or $0.43 per share in the prior-year quarter.
For the quarter, income from continues operations increased to $6.06 million or $0.36 per share from $5.0 million or $0.29 per share in the similar quarter last year.
On average, six analysts polled by Thomson Reuters expected the company to earn $0.46 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew 32.9 percent to $100.48 million from $75.58 million in the prior-year quarter. Six analysts had a consensus revenue estimate of $102.19 million for the quarter.
Looking ahead, the company reaffirmed its full-year 2012 adjusted earnings guidance range of $2.40 to $2.60 per share. The company continues to anticipate revenues for the year in a range of $420 million to $430 million. Analysts currently expect the company to earn $1.78 per share for the year, with revenues of $374.47 million.
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by RTT Staff Writer
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