NEWS28 October 2010

Forrester upbeat despite dip in third-quarter profits

Financials North America

US— Forrester Research boss George Colony said the firm delivered a “strong operating performance” during the third quarter of the year despite a drop in net income for the period.

Profits fell to $3.7m from $4.3m in the same period last year, but revenue was up 11% to $59.8m.

For the nine-month period ending 30 September revenue stood at $183.6m, up from $171.9m last year, while net income increased to $16.4m compared to $13m a year ago.

Colony (pictured) said: “We continue to recover well from the recession with a strong operating performance, top-line growth approaching historical double-digit levels, and significant cash flow from operations. We remain confident that we have sufficient funds on hand to grow our business organically and through strategic acquisitions.”

The firm has raised its full-year guidance slightly, and now expects total revenue of between $247m and $252m and an operating margin of between 11.5% and 12.5%.