Modest Growth for Forrester in Second Quarter

Technology specialist Forrester Research has reported a flat second quarter, with total revenue down slightly to $82.8m from $82.9m in the prior year period. However, at constant currency revenues rose by just over 3%.

Research revenues increased 1% to $52.6m, while Advisory Services and Events revenues fell 1% to $30.2m, compared with the second quarter of 2014. On a constant currency basis, Research revenues rose 4%, and Advisory Services and Events revenues were up 2%.

For the group as a whole, on a GAAP basis, net income was $5.8m, compared with net income of $4.3m for the same period in 2014. On a pro forma basis, net income was $7.3m, compared with $6.2m for the same period in 2014.

The company said it expects revenue in the range of $72m to $75m for the fiscal third quarter, and full-year revenue of between $310m and $318m. Chairman & CEO George Colony (pictured) stated: 'Sixty percent of our products are experiencing double-digit growth, and client and dollar retention remains strong. Our adjusted guidance reflects those products that are not yet performing as expected, as well as the adverse impact of foreign exchange on our international operations. We remain committed to our strategy and are looking to accelerate the pace of the transition in the second half of the year'.

Web site: www.forrester.com .