Forrester sees Q2 revenues rise 7%

The company’s net income was up 29% to $7.8m for the second quarter of 2012, compared with net income of $5.5m for the same period last year.

The results mean that for the first half of the financial year total revenues were up 6.8% to $149.4m, compared with $139.2m for the same period last year, with net income hitting $11m for the six months ended June 30, 2012, compared with net income of $8.4m last year – a 23.6% rise.

“Forrester met our revenue guidance and exceeded operating margin and earnings per share for the second quarter,” said George F Colony, Forrester’s chairman and chief executive officer (pictured). “However, we are reducing revenue and profit guidance for the year. In the past six months, we put in place ambitious initiatives and organisational changes to better serve our clients. There is progress as a result of these changes, but more time is needed before they have a significant impact on our financial performance.”