NEWS31 October 2011

Forrester posts Q3 and nine-month revenue rise

Financials North America

US— Forrester Research has reported revenue growth up 16.7% to $69.8m for the third quarter with net income up 54% to $5.7m.

For the first nine months sales were up 13% to $209m while profit fell 14% to $14.1m.

Chief executive and chairman George Colony (pictured) said: “Forrester met revenue guidance and exceeded operating margin and earnings per share for the third quarter. Our client and dollar retention rates continue to perform at the upper end of our historical range.”

However, Colony said, the firm was taking a “more conservative approach” in its predictions for the remainder of the year and downgraded its 2011 revenue forecast to between $283m and $287m, from $285m-$291m, citing “inconsistent performance in some of our markets and the continuing economic turmoil