Advisory Board (Nasdaq: ABCO) reported earnings on May 9. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended March 31 (Q4), Advisory Board beat slightly on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue expanded significantly. Non-GAAP earnings per share increased significantly. GAAP earnings per share dropped significantly.

Gross margins increased, operating margins contracted, net margins shrank.

Revenue details
 Advisory Board recorded revenue of $119.7 million. The 11 analysts polled by S&P Capital IQ foresaw revenue of $117.9 million on the same basis. GAAP reported sales were 19% higher than the prior-year quarter's $100.5 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $0.33. The 10 earnings estimates compiled by S&P Capital IQ forecast $0.28 per share. Non-GAAP EPS of $0.33 for Q4 were 43% higher than the prior-year quarter's $0.23 per share. (The prior-year quarter included $0.06 per share in earnings from discontinued operations.) GAAP EPS of $0.18 for Q4 were 22% lower than the prior-year quarter's $0.23 per share. (The prior-year quarter included $0.06 per share in earnings from discontinued operations.)

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 48.6%, 190 basis points better than the prior-year quarter. Operating margin was 10.6%, 160 basis points worse than the prior-year quarter. Net margin was 5.3%, 280 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
 Next quarter's average estimate for revenue is $121.8 million. On the bottom line, the average EPS estimate is $0.28.

Next year's average estimate for revenue is $521.3 million. The average EPS estimate is $1.30.

Investor sentiment
 The stock has a one-star rating (out of five) at Motley Fool CAPS, with 41 members out of 72 rating the stock outperform, and 31 members rating it underperform. Among 32 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 22 give Advisory Board a green thumbs-up, and 10 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Advisory Board is outperform, with an average price target of $51.78.

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