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ISG Q3 Revenue Drops 21%
Information Services Group (ISG), which owns outsourcing data and advisory firm TPI, has reported a 21% decline in third quarter revenues to $32.5m from $41.1m in Q3 2008.
 Revenues in the Americas decreased 14%, while those from international operations fell 25% on a constant currency basis.
For the three months ended September 30, 2009, ISG reported a $4.2m operating loss, compared with operating income of $3.8m during the same 2008 period. This, says the firm, was attributable to a $6.8m charge relating to assets associated with trademarks and trade names.
During the period, the firm experienced year-on-year growth in the automotive and financial service sectors for the first time since 2007, as well as demand from companies in the retail and restaurant sectors. It also signed its first major contract in China.
In August, ISG reported a 32% drop in first half revenues to $65.8m from $96.2m in the prior year period, while second quarter revenues fell $19.2m (or 38%) to $31.5m.
'Although growth in the overall sourcing market remains challenging in 2009, ISG's third quarter revenues were essentially flat to the second quarter 2009 on a constant currency basis,' stated Chairman and CEO Michael Connors. 'As world economic activity stabilizes and corporate confidence returns, we believe ISG is well positioned to support our clients' efforts to lower their costs and drive business improvements.'
Connecticut-based ISG is run by a team including several former Nielsen / VNU executives and is on the web at www.informationsg.com , while Houston-based TPI is online at www.tpi.net .
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