Total revenue for the third quarter was $267.5m, down 10%. Research sales declined 7% to $185.7m, however contract value increased 1% quarter-on-quarter to $742.9m.

Consulting revenue showed the biggest year-on-year drop, down 18% to $65.7m, while the events division saw sales fall 9% to $16m.

Operating income was down 21% to $27.5m while net income increased by 7% to $20m.

Hall said: “During the third quarter, our key business metrics continued to improve sequentially. We increased salesforce productivity, grew new business in research and improved retention on research subscriptions that came up for renewal during the quarter.”

Improvements resulted from efforts to increase sales effectiveness and a more favourable economic environment, said Hall.

He added: “Looking ahead, we expect our business trends to continue to improve in the fourth quarter and we expect to generate revenue, earnings and cash flow growth in 2010.”