ISG Profits Jump while Revenue Climbs Slightly

Tech research and advisory firm Information Services Group has announced moderate revenue growth of 2 percent in constant currency terms, to $68.1m in the third quarter.

Global reported revenues were flat, the result of a 5% increase in the Americas and falls of 6% and 2% respectively in Europe and Asia pacific. Operating income was up 68% to $5.7m, while adjusted EBITDA rose 17% to $10.3m. Chairman and CEO Michael P. Connors (pictured) said: 'Our strong results were driven by growing demand for all things digital - tempered somewhat by European macro-economic conditions - and a more profitable mix of products and services overall. Digital Solutions continues to be a growth engine for the firm, representing more than 45 percent of our total revenue, while the Americas region delivered its strongest quarterly revenue growth since 2017. These results positively impacted our cash balance, which was up 36 percent from the second quarter'.

The firm is projecting Q4 revenues in the range of $67-69m and adjusted EBITDA of at least $10m for Q4. Cash and cash equivalents were $14.2m on September 30th, up $3.8m from three months earlier.

Web site: 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.