The Advisory Board Company (ABCO) reported first-quarter net income of $3.8 million, or $0.11 per share, compared to $3.9 million, or $0.11 per share, for the quarter ended June 30, 2011. Revenue for the quarter increased 30.3% to $104.1 million, from $79.9 million prior year.
Adjusted EBITDA increased 42.7% to $20.2 million, from $14.1 million last year. Adjusted net income increased 34.4% to $11.1 million, or $0.31 per share, from $8.2 million, or $0.24 per share, prior year.
Analysts polled by Thomson Reuters expected the company to report profit of $0.24 per share on revenue of $104.63 million for the quarter. Analysts' estimates typically exclude special items.
The Advisory Board Company updated its revenue guidance for calendar year 2012 to a range of approximately $426 million to $432 million, up from a range of $420 million to $430 million. The company also updated its guidance for calendar year 2012 adjusted EBITDA to a range of approximately $79 million to $82 million, up from a range of $77 million to $82 million.
For calendar year 2012, the company updated its guidance for adjusted earnings per share to a range of approximately $1.20 to $1.25, from a range of $1.20 to $1.30 adjusted for the effects of the company's two-for-one stock split effective June 18, 2012.
Analysts currently expect the company to report profit of $0.99 per share on revenue of $445.81 million for 2012.
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