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Forrester Revenues Jump
Technology specialist Forrester Research has announced third quarter results, with a substantial rise in revenues to $69.8m from $59.8m in Q3 2010.
 GAAP net income rose from $3.7m to $5.7m, equivalent to $0.25 per diluted share; and after adjustments pro forma net income from $4.4m to $7.9m ($0.34 per share).
For the first nine months, revenue was up 13.8% to $209.0m, and adjusted net income up around 7% to $20.2m, while GAAP net income fell from $16.4m to $14.1m.
For the full year 2011 the firm expects total revenues of c.$283m-$287m, operating margin c.12-13% and diluted earnings per share of approximately $0.87 to $0.91.
Chairman and CEO George F. Colony said the firm had met revenue guidance and exceeded expectations for margin and earnings, but was cautious in outlook: 'Our client- and dollar-retention rates continue to perform at the upper end of our historical range. Our good performance notwithstanding, we are taking a more conservative approach and reducing our revenue guidance for the year due to inconsistent performance in some of our markets and the continuing economic turmoil.'
Web site: www.forrester.com .
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