Corporate Executive Board Q1 Profit Declines; Updates 2014 Outlook

(RTTNews) - The Corporate Executive Board Company (CEB) reported first-quarter net income of $7.7 million, or $0.22 per share, compared to $11.2 million, or $0.33 per share, in the same period of 2013. Adjusted net income was $18.3 million or $0.54 per share in the first quarter of 2014.

On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.68 for the quarter. Analysts' estimates typically exclude special items.

Revenue increased 10.1% to $209.4 million from $190.3 million. Analysts expected revenue of $210.63 million for the quarter.

The company now expects 2014: adjusted revenue of $910 million to $935 million, revenue of $904 million to $929 million, and non-GAAP earnings per share of $3.15 to $3.40. Analysts expect the company to report 2014 earnings per share of $3.32 on revenue of $907.76 million.