Corporate Executive Board Q4 Profit Rises

(RTTNews) - The Corporate Executive Board Company (CEB) reported that its fourth-quarter net income was $12.6 million, or $0.37 per share, compared to $7.2 million, or $0.21 per share, last year.

Adjusted net income was $28.8 million, or $0.84 per share, up from $23.6 million, or $0.69 per share in the previous year quarter. On average, eight analysts polled by Thomson Reuters expected the company to report profit of $0.85 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue increased 15.3% to $223.44 million from $193.72 million, last year. Analysts expected revenue of $216.92 million for the quarter.

For 2014, the company expects adjusted revenue of $895 million to $915 million, revenue of $892 million to $912 million, and Non-GAAP earnings per share of $3.15 to $3.40. Analysts expect the company to report profit per share of $3.38 on revenue of $897.56 million.

The company also announced that its Board has approved a cash dividend on its common stock for the first quarter of 2014 of $0.2625 per share, an increase of 16.7% compared to the dividend paid in the fourth quarter of 2013. The Company will fund its dividend payments with cash on hand and cash generated from operations. The dividend is payable on March 31, 2014 to stockholders of record on March 14, 2014.