January 3, 2017 / 10:42 PM / 3 years ago

BRIEF-Advisory Board Co will reduce workforce by about 220 employees

Jan 3 (Reuters) - Advisory Board Co :

* The Advisory Board Company aligns health care capabilities to enhance efficiency and drive future growth

* Advisory Board Co - will exit certain products and services which do not fully align with its long-term strategy

* Advisory board co - education business will not be affected by restructuring plan

* Advisory Board Co - will reduce its workforce by about 220 employees, or 5.7% of its total workforce, and close four office locations by year-end 2017

* Expects to incur approximately $20 to $25 million of cash expenses and $25 to $30 million in non-cash charges in 2017

* Advisory Board Co - “while 2016 performance was below our expectations, we do expect to deliver substantial adjusted EBITDA growth in 2017”

* Advisory Board Co - full-year 2016 revenue is expected to be approximately $805 to $807 million

* Advisory Board Co - workforce reduction, office closures seen resulting in over $25 million reduced annualized operating expenses once plan is fully implemented by 2017 end

* Advisory Board - see combination of health care market challenges, strategy portfolio repositioning to cause co to fall short of 2016 revenue growth outlook

* Advisory board co says on a preliminary basis, company expects 2017 non-GAAP revenue to be in ranges of $780 to $840 million

* Advisory Board Co - sees FY 2016 adjusted EBITDA expected to be $187 to $188 million

* Fy2016 revenue view $817.1 million — Thomson Reuters I/B/E/S

* Fy2017 revenue view $869.7 million — Thomson Reuters I/B/E/S

* Advisory Board Co - on a preliminary basis, company expects 2017, adjusted EBITDA to be in ranges of $190 to $215 million Source text for Eikon: Further company coverage:

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