Research and advisory group ISG (Information Services Group) has reported a 13% increase in second quarter revenue to $60.4m, compared with $53.4m in the prior year period.
Founded in 2007 as an acquisition vehicle, ISG first bought outsourcing advisory firm TPI, then in 2011 acquired UK-based benchmarking and analytics specialist Compass and public sector advisor STA Consulting. Last year, the company expanded with the acquisition of emerging IT trends analyst Saugatuck Technology and subscription-based research, advisory and benchmarking firm Experton Group AG.
During the second quarter, revenues rose 11% to $31.7m in the Americas; 14% to $21.2m in Europe, and 22% to $7.5m in Asia Pacific. Second quarter operating income increased 61% to $3.2m, compared with operating income of $2.0m in the second quarter of 2015, with an additional $0.5m in stock compensation included in the latest figure. Net income for the second quarter was $1.7m compared with net income of $1.0m in the second quarter of 2015; and second quarter 2016 adjusted EBITDA was up 36% to $7.0m, compared with $5.2m in last year's second quarter.
Chairman and CEO Michael Connors (pictured) commented: 'We had a great second quarter, delivering the highest revenues we have ever achieved in any quarter. Overall, our strategy of broadening our portfolio of services is yielding significant growth, with cloud and digital services now accounting for more than 20% of our total revenues. During the quarter, we signed three multiyear client engagements for a total of $50m of which approximately 20% is new sales. We remain very well positioned to continue driving profitable growth and delivering value for our clients and shareholders.'
Web site: www.isg-one.com .
All articles 2006-20 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.