Here are five things to know.
1. The Washington, D.C.-based research and consulting firm recorded adjusted net income of $15.3 million in the second quarter of fiscal year 2017, down from 18.8 million in the second quarter of fiscal year 2016.
2. The Advisory Board achieved revenues of $200.3 million in the second quarter of fiscal year 2017, up from $198.4 million in the same period a year prior. The firm attributed the year-over-year revenue growth to a 19 percent increase in education revenue and an uptick in its enrollment business revenue. This was offset by a year-over-year decrease of 3.3 percent in its healthcare revenue.
3. For the six-month period ended June 30, The Advisory Board saw adjusted net income fall year-over-year to $34.5 million compared to $37.4 million. The six-month period comprised $26.1 million in restructuring and strategic alternative-related charges, as well as a net gain of $39.3 million attributed to the firm’s Arlington, Va.-based Evolent Health investment.
4. Earlier this year, reports surfaced of a potential merger between Evolent Health and The Advisory Board, which helped launch Evolent five years ago.
5. In January, Advisory Board said it planned to cut about 220 jobs, or 5.7 percent of its total workforce. In February, the company said it was exploring potential strategic options. In addition, Minnetonka, Minn.-based UnitedHealth Group plans to acquire Advisory Board’s healthcare division.
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