Corporate Executive Board ( EXBD), a corporate-strategy research company, said its second-quarter earnings rose 4.2%, limited by stock option expense.

The Washington-based company earned $17.8 million, or 43 cents a share, in the quarter, compared with $17 million, or 41 cents a share, a year ago. Adjusted for stock options expense, the company earned 53 cents a share in the quarter. Analysts polled by Thomson First Call were expecting earnings of 52 cents a share in the most recent quarter.

Second-quarter revenue increased 27.8% to $111.7 million.

For the third quarter, the company expects to earn 50 cents a share, including 10 cents a share of stock option expense, on revenue of $118 million. Analysts were expecting the company to earn 58 cents a share on revenue of $116.5 million.

For the full year, the company expects to earn $1.91 a share. Adjusted for items, earnings are expected to be $2.30 a share, as against the analysts expectations of $2.28 a share. The company also forecasts a revenue growth of at least 27%.

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