The Advisory Board Company (Nasdaq: ABCO) today announced financial results for the second quarter of its fiscal year ending March 31, 2010. Revenue for the quarter increased 1.2% to $58.3 million, from $57.6 million in the second quarter of fiscal 2009. Contract value grew 3.0% to $237.6 million as of September 30, 2009, up from $230.6 million as of September 30, 2008. Net loss was $2.1 million, or $0.14 per diluted share, compared to net income of $5.4 million, or $0.32 per diluted share, for the same period a year ago. Included in net loss for the second quarter of fiscal 2010 are pre-tax one-time charges of $7.4 million for the write-off of capitalized developed software costs and $1.9 million in accelerated compensation costs resulting from the cancellation of certain stock options held by members of the Company's senior management and its directors. Excluding the effects, net of tax, of these one-time non-cash charges, adjusted net income was $4.0 million and adjusted earnings per diluted share was $0.26 for the second quarter of fiscal 2010. Adjusted EBITDA was $7.2 million for the quarter, compared to $8.4 million in the second quarter of fiscal 2009.