Forrester Reports 'Strong' Operating Results

In the US, technology specialist Forrester Research has reported 'strong operating results' for the third quarter, with revenues of $59.8m compared with $53.9m for the prior year period, against a $0.6m drop in net income.

Although profits dropped from $4.3m last year to $3.7m in Q3 2010, revenue increased 11% to $59.8m.

For the nine-month period ended September 30, 2010, total revenues were $183.6m, compared with $171.9m for the same period last year, and net income was $16.4m compared with $131.1m last year.

The firm is predicting total fourth quarter revenues of between $65.0m and $68.0m, and has revised its full-year 2010 expectations upwards to approximately $247m to $252m.

The company has also announced that its Board of Directors has approved a special cash dividend of $3 per share and authorized the repurchase of up to an additional $60m of its common stock.

'Our Board's decision to pay a special dividend reflects the strength of our business and our balance sheet,' states CEO George Colony. 'We continue to recover well from the recession, and remain confident that we have sufficient funds to grow our business organically and through strategic acquisitions.'

Web site: www.forrester.com .