Stamford, CT-based research and advisory group ISG has announced financial results for the third quarter, ending September 30th, with revenues of $51.9m - up 2% at constant currency. A 6% decline in Europe was matched by rises of 5% in the Americas and 8% in Asia Pacific.
Revenues for the three regions were $16.6m, $29.2m and $6.1m respectively. The profit measure adjusted EBITDA showed a slight increase, from $6.4m a year ago to $6.6m. The group has had mixed results in the last year, including flat revenue in the first quarter and a 13% increase in the second.
Cash in hand rose slightly to $19.1m and debt fell one percent in the three months, to $59.4m. Chairman and CEO Michael P. Connors (pictured) described the quarter as 'solid' and said a contraction in the UK since June had been the main drag on overall results - without the UK, European revenue would have grown 9%. He comments: 'All regions are seeing good demand for our expanded services, especially around digital, cloud and automation services. ISG has a strong and differentiated position in the market... we served 370 clients [in Q3], 48 of which are new to the firm, and that bodes well for our pipeline heading into 2017'.
Web site: www.isg-one.com .
All articles 2006-20 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.