NEWS24 October 2013

Forrester revenues inch up as ‘recovery’ process continues

Financials North America

US — Forrester Research met its revenue guidance for the third quarter, with total sales up 1.6% to $69.6m – however research revenue declined 1%, the company said.

Net income fell to $2.1m, compared to $10.4m a year ago, however 2012 figures were boosted by a $5.5m deferred tax benefit.

Forrester had cut jobs at the start of the year in anticipation of low growth. It also made changes in its sales team, designed to improve productivity.

Commenting on the Q3 results, Forrester CEO George Colony (pictured) said: “Forrester met its revenue guidance and exceeded operating margin and earnings per share for the third quarter. We continue a deliberate, year-long process to improve how we operate to better serve our clients and take advantage of emerging growth opportunities. While our recovery remains a work in progress, we are seeing positive signs in some areas of the business.”

Nine-month revenues were up 0.5% to $219.2m while net income for the period more than halved to $10.1m.