CEB Reports Second Quarter Results and Updates 2015 Guidance

ARLINGTON, Va.--(BUSINESS WIRE)--CEB Inc. (“CEB” or the “Company”) (NYSE: CEB) today announced financial results for the second quarter ended June 30, 2015. Revenue increased 0.7% to $232.0 million in the second quarter of 2015 from $230.4 million in the second quarter of 2014. Net income in the second quarter of 2015 was $23.2 million, or $0.69 per diluted share, compared to a net loss of $6.4 million, or $0.19 per diluted share, in the same period of 2014. Included in net income for the second quarter of 2015 was $4.8 million of pre-tax debt extinguishment costs associated with the June 2015 refinancing of the Company’s senior secured credit facility and issuance of senior notes and a $4.7 million pre-tax net non-operating foreign currency loss. Included in net loss for the second quarter of 2014 was a $39.7 million pre-tax impairment loss associated with nondeductible intangible assets and goodwill of Personnel Decision Research Institutes, Inc. (“PDRI”), a $6.6 million pre-tax gain related to a cost method investment, and a $2.0 million pre-tax net non-operating foreign currency loss. Adjusted net income was $40.0 million and Non-GAAP diluted earnings per share were $1.19 in the second quarter of 2015 compared to $27.4 million and $0.81 in the same period of 2014, respectively.