Forrester Research Revenues Up 2%

Technology specialist Forrester has reported an 8.3% increase in third quarter revenue to $75.4m, with research division revenues up by a more moderate 2%, to $50.6m.

Early last year, Forrester announced it would be 'streamlining' some support functions with the loss of an estimated 2.5% of its workforce. As part of this process, it put in place what it describes as a 'unified global research business', led by Cliff Condon (pictured), Chief Research Officer, and Dennis van Lingen, Chief Product Officer. Commenting on the third quarter results, Chairman and CEO George Colony said that under Condon's leadership, the Research division is continuing to generate a widening portfolio of research, with research reports created in the third quarter up by 48% over last year's third quarter.

The group's other businesses, events and advisory, saw revenues increase a tidy 24% to $24.7m. On a GAAP basis, company net income was $3.0m, compared with net income of $2.5m in the same period in 2013; and on a pro forma basis, net income was $4.7m.

Colony concluded: 'Forrester met its revenue and EPS guidance for the third quarter. In Q3, we continued to demonstrate the same steady growth since the start of the year. However, we still have work to do to ensure consistent performance across all parts of the business.'

Web site: www.forrester.com .