CEB Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Year 2015
Jul 28 15
CEB Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported revenue of $231,964,000 against $230,427,000 a year ago. Operating profit was $38,838,000 against operating loss of $9,230,000 a year ago. Income before provision for income taxes was $23,916,000 against loss before provision for income taxes of $8,608,000 a year ago. Net income was $23,212,000 or $0.69 basic and diluted per share against net loss of $6,421,000 or $0.19 diluted per share a year ago. Adjusted revenue was $232,653,000 against $232,377,000 a year ago. Adjusted EBITDA was $60,358,000 against $56,158,000 a year ago. Adjusted net income was $39,983,000 or $1.19 diluted per share against $25,528,000 or $0.81 diluted per share a year ago.
For the six months, the company reported revenue of $453,563,000 against $439,864,000 a year ago. Operating income was $68,808,000 against $9,248,000 a year ago. Income before provision for income taxes was $5,173,000 against $4,434,000 a year ago. Net income was $42,302,000 or $1.25 diluted per share against $1,235,000 or $0.04 basic and diluted per share a year ago. Adjusted revenue was $454,671,000 against $443,098,000 a year ago. Adjusted EBITDA was $113,495,000 against $97,982,000 a year ago. Net cash flows provided by operating activities were $85,258,000 against $90,158,000 a year ago. Purchases of property and equipment were $13,401,000 against $23,819,000 a year ago. Adjusted net income was $64,533,000 or $1.91 diluted per share against $46,541,000 or $1.36 diluted per share a year ago.
For the year 2015, the company expected adjusted revenue of $935 to $950 million, revenue of $933 to $948 million, capital expenditures of $30 to $32 million, Non-GAAP diluted earnings per share of $3.65 to $3.90, an Adjusted EBITDA margin between 25.5% and 26.0%, and depreciation and amortization expense of $68 to $70 million. The company currently expects the full year 2015 effective tax rate, including onetime benefits, to be between approximately 30% and 32%. The company expects that operating cash flow for the full year will be consistent with historical patterns.