Corporate Executive Board shares rise

NEW YORK --Shares of Corporate Executive Board Co. rose sharply Wednesday after the corporate-strategy research company posted strong fourth-quarter results.

The Washington-based company also said it tripled its dividend and boosted a stock buyback.

Corporate Executive's shares climbed $14.33, or 16 percent, to close at $102.25 on the Nasdaq Stock Market. The stock easily beat its previous 52-week high of $91.84, set Dec. 23.

Corporate Executive provides corporate research and analysis to over 80 percent of Fortune 500 companies and more than 2,300 corporations on a subscription basis.

Tuesday, after the financial markets closed, Corporate Executive said net income for the fourth quarter leaped 25 percent to $21.3 million, or 52 cents a share, from $17 million, or 42 cents a share. Revenue for the latest period soared 29 percent to $99.8 million from $77.1 million.

For all of 2005, net income jumped to $75.1 million, or $1.83, from $53.7 million, or $1.34. Full-year revenue surged 29 percent to $362.2 million from $280.7 million.

Morgan Stanley analyst Chris Gutek said the company has "one of the best business models we've seen," citing its "strong organic growth, high margins and excellent cash flows."