CEB Reports Second Quarter Results and Reaffirms 2014 Guidance

ARLINGTON, Va.--(BUSINESS WIRE)--The Corporate Executive Board Company (“CEB” or the “Company”) (NYSE: CEB) today announced financial results for the second quarter and six months ended June 30, 2014. Revenue increased 12.6% to $230.4 million in the second quarter of 2014 from $204.6 million in the second quarter of 2013. Net loss in the second quarter of 2014 was $6.4 million, or $0.19 per diluted share, compared to net income of $13.6 million, or $0.40 per diluted share, in the same period of 2013. Included in the net loss for the second quarter of 2014 is a $39.7 million pre-tax impairment loss associated with nondeductible intangible assets and goodwill of Personnel Decision Research Institutes, Inc. (“PDRI”) and a $6.6 million pre-tax gain related to a cost method investment. Adjusted net income was $25.5 million and Non-GAAP diluted earnings per share were $0.75 in the second quarter of 2014 compared to $24.8 million and $0.73 in the same period of 2013, respectively.