Forrester Recovery Continues

Technology researcher Forrester has announced results for the second quarter, ended June 30. Revenues rose 5% to $64.7m, and pro forma net income was $8.2m, down only slightly from $8.8m a year previously.

For the first half, revenue was up 4.9% to $123.8m, and on a pro forma basis net income was $14.5m, or $0.63 per diluted share, versus $15.0m ($0.65 per share) in H1 2009.

Comparatives for the third quarter should be stronger - Q3 2009 was a relatively poor one for Forrester, whose revenue dropped 9%. The company has recovered confidently this year and is recruiting a large number of analysts - seven joined its Marketing & Strategy, Technology Industry, and Information Technology divisions earlier this month.

Chairman and CEO George F. Colony said the latest results were 'robust': 'All of our key client metrics continue to trend upward, so we are increasing guidance for the full year and reinvesting in the business. Forrester's financial performance year-to-date continues to demonstrate that our role-based strategy resonates with our clients now more than ever.'

The company predicts full year revenue between $244m and $252m, with pro forma operating margin of c.14.5 - 15.5%, and pro forma diluted earnings per share of approximately $1.03 to $1.09.

Web site: www.forrester.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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