Forrester Revenues Up 13.6%

US technology specialist Forrester Research has reported a 13.6% increase in second quarter revenue to $73.5m, compared with $64.7m in the prior year period. However, net income dropped 20% to $5.5m from $6.9m in Q2 2010.

On a pro forma basis, net income fell 8.5% from pro forma net income of $8.2m for the same period in 2010.

Similarly, for the six month period ended June 30, total revenues climbed to $139.2m from $123.8m the previous year, while net income fell from $12.7m to $8.4m.

'The company has performed well in the first half of the year, positioning us to have a strong full year,' states CEO George Colony. 'Our second-quarter metrics including deferred revenue increased considerably versus prior year, and our renewal rates remain very strong, while our operating margin and earnings per share exceeded our guidance. Integration of our second-quarter acquisition, Springboard Research, is well on track expanding our coverage and presence in Asia.'

For the third quarter of 2011, the firm is predicting total revenues of approximately $69.0m to $72.0m.

Web site: www.forrester.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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