Corporate Executive Board Q2 Adj. Profit Tops View; Backs FY14 Outlook

(RTTNews) - The Corporate Executive Board Company (CEB) reported second-quarter net loss of $6.4 million, or $0.19 per share, compared to net income of $13.6 million, or $0.40 per share, in the prior year period.

Adjusted net income was $25.5 million or $0.75 per share, up from $24.8 million or $0.73 per share in the comparable quarter last year. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.71 for the quarter. Analysts' estimates typically exclude special items.

Revenue increased 12.6% to $230.43 million from $204.61 million, while adjusted revenue was $232.38 million, up from $207.56 million last year. Analysts expected revenue of $229.39 million for the quarter.

For full year 2014, the company continues to expect non-GAAP earnings per share in the range of $3.15 to $3.40, revenue of $904 million to $929 million and adjusted revenue of $910 million to $935 million. Analysts expect the company to report 2014 earnings per share of $3.24 on revenue of $917.86 million.