ISG Back in the Black

US-based Information Services Group (ISG) has announced impressive results for the quarter ended March 31, 2012, with revenues up 15% at constant currencies to $46.3m.

Revenues rose 21% in the Americas, to $23.9m and 31% in Asia Pacific to $6.9m, but declined slightly (0.4%) in EMEA to $15.6m (all %s are at constant currencies). Operating income was $0.2m, reversing a loss of $5.2m a year previously which had resulted partly from acquisition and restructuring costs. Adjusted net income was $1.0m, or $0.03 per share, from adjusted net loss of $0.1m a year previously; and first quarter EBITDA was $3.0m, following a loss of $1.6m in Q1 2011.

Chairman and CEO Michael Connors said the firm had seen a strong start to 2012 'with accelerating global demand for our services throughout the first quarter', with 'healthy activity... in global sales pipelines'.

Connors started the group in 2007 with almost $260m in funds. His company's first acquisition was outsourcing advisory firm TPI, and this was followed last year by UK-based benchmarking and analytics firm Compass and public sector advisor STA Consulting.

In January, the group merged its individual corporate brands into one integrated business under the ISG name and Connors says positive client feedback suggests 'the power of the combined brands is making a difference.'

In March, the group reported a strong recovery in 2011 revenues to $184.4m, re-passing 2008 levels after two years in the doldrums - although its quarterly operating loss was once again very large - $59.9m - due to a goodwill write-down.

Today the group reaffirmed its full-year 2012 guidance for constant currency revenue growth of between 6 and 8% and EBITDA of between 10 and 15%.

Based in Stamford, CT, ISG has more than 700 employees, operates in 21 countries and is online at www.isg-one.com .

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