CEB Reports Third Quarter Results and Raises 2012 Guidance

ARLINGTON, Va.--(BUSINESS WIRE)--The Corporate Executive Board Company (“CEB” or the “Company”) (NYSE: CEB) today announces financial results for the third quarter and nine months ended September 30, 2012. The financial results include the results of operations of SHL Group Holdings 1 Limited and its subsidiaries (“SHL”) from August 2, 2012, the date of acquisition. Revenues increased 35.5% to $164.7 million in the third quarter of 2012 from $121.6 million in the third quarter of 2011. Loss from continuing operations in the third quarter of 2012 was $0.5 million, or $0.01 per diluted share, compared to income from continuing operations of $14.6 million, or $0.42 per diluted share, in the same period of 2011. Loss from continuing operations in the third quarter of 2012 includes various costs incurred associated with the SHL acquisition. Adjusted net income was $26.4 million and non-GAAP diluted earnings per share was $0.78 in the third quarter of 2012 compared to $16.2 million and $0.47 in the same period of 2011, respectively.