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Growth for Gartner and Forrester
Technology research and consulting competitors Gartner and Forrester have both reported increases in revenue for the fourth quarter of 2007 and for the full year.
Gartner has recorded a 72% rise in quarterly profit, helped by strong growth in its research division, which delivered 19% growth in the fourth quarter to $180.6m, while its full year revenue increased 18% to $673.3m.
The firm's total fourth quarter net income rose to $38.8m from $22.6m the previous year. Revenue rose 15% to $348.4m. Full year total revenue grew 12% to $1.189bn, driven by growth in all three of its business segments; research, consulting and events. The firm is now planning to invest in non-core businesses and has entered into negotiations to sell its vision events business, which generalted revenue of about $21m last year.
Gene Hall, Gartner's CEO, commented: 'Our 2007 results reflect the continued successful execution of our growth strategy. With our vast, untapped market opportunity and products that are crucial to the efficient operation of our clients' IT programmes, we are well positioned to continue double-digit revenue and earnings growth, even in a slower economic environment.'
Forrester's results were more mixed, with fourth quarter profits dented by stock-compensation expenses and other special items, though adjusted net income rose. The firm posted a 10% drop in earnings, to $5.6m from $6.2m a year earlier, but revenue rose 19.3% to $58.4m from $48.9m.
Adjusted income rose 17% to $8.7m; a figure which excludes stock-compensation expenses, intangible assets, net investment gains, and expenses relating to an investigation into stock options and restatement of its historical financial statements (www.mrweb.com/drno/news6522.htm ).
Forrester's full-year profit rose 6.7% to $18.9m, while revenue rose 16.9% to $212.1m.
CEO George Colony said the company's conversion to a research system known as RoleView, which provides clients with specialised data, will drive growth this year. 'In 2008, we will complete the transition to roles, an offering which has made us more relevant to our clients,' said Colony. 'We'll also continue to drive our syndicated business this year, a key priority for Forrester.'
The companies are online at www.gartner.com and www.forrester.com.
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