Corporate Executive Board Q3 Profit Tops Estimates; Updates 2014 Guidance

(RTTNews) - The Corporate Executive Board Company (CEB) reported third-quarter net income of $21.4 million, or $0.63 per share, compared to a loss of $5.4 million, or $0.16 per share, in the same period of 2013. Adjusted net income was $35.8 million and non-GAAP earnings per share were $1.05 in the third quarter of 2014 compared to $29.1 million and $0.86 in the same period of 2013, respectively.

On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.87 for the quarter. Analysts' estimates typically exclude special items.

Revenue increased 13.5% to $229.0 million in the third quarter of 2014 from $201.7 million in the third quarter of 2013. Analysts expected revenue of $226.90 million for the quarter.

The company updated its 2014 annual guidance. Adjusted revenue is expected in the range of $915 to $925 million, revenue in the range of $909 to $919 million, and non-GAAP earnings per share of $3.25 to $3.45. Analysts expect the company to report 2014 earnings per share of $3.25 on revenue of $916.87 million.