NEWS29 July 2010

Forrester Research celebrates "robust" Q2 and raises full-year expectations

Financials North America

US— Forrester Research has posted a 5% increase in revenue for the second quarter of 2010 and an 11% rise in net income for the period.

Revenue for the quarter was up to $64.7m from $61.6 while net income rose to $6.9m from $6.2m.

George Colony (pictured), the firm’s CEO and chairman of the board, said: “We had a robust second quarter. All of our key client metrics continue to trend upward, so we are increasing guidance for the full year and reinvesting in the business. Forrester’s financial performance year-to-date continues to demonstrate that our role-based strategy resonates with our clients now more than ever.”

For the first six months of the year revenue totalled $123.8m compared to $118m in the first half of 2009 while net income was up to $12.7m from $8.8m.

Looking ahead to the rest of the year the firm said that it now expects to see total revenues of between $57.5 and $60.5m for the third quarter of the year and an operating margin of between 8% and 10%.

For the full year, revenues are expected to total between $244m and $252m with an operating margin of between 11% and 12%.