Gartner Q2 Revenue Up 12%

Technology specialist Gartner has reported second quarter revenues up 9% to $397.5m - equivalent to growth of 12% at constant currencies. A very good quarter for the group's Research division was only slightly dented by a flat performance from the smaller Consulting wing.

Net income rose 29% to $41.5m and normalized EBITDA was up 16% to $79.0m; earnings per share rose from $0.32 to $0.43.

The Research division led the way with second quarter revenue up 14% at constant currencies to $278.3m and gross contribution margin up 1 percentage point at 68%. Revenue for the smaller Consulting division was more or less flat - down 2% to $76.7m but up 1% with currency effects excluded. The Events division also had a very good quarter with revenue up 16% at constant currencies, to $42.5m.

Six monthly revenue of $766.7m was also up 12% with currency effects excluded - normalized EBITDA for the longer period was up 14% to $150.2m.

CEO Gene Hall said: 'We continued our trend of delivering consistent, double-digit growth in the second quarter... The increases in our revenue and contract value, as well as the expansion of key operating metrics such as client retention, illustrate both the strong value we provide our clients and the sizeable market opportunity for our services. As we look ahead to the second half of 2012, we remain excited about the opportunity we see in the market and expect to deliver another year of double-digit growth in our key business metrics.'

The company projects revenues in the range $1.13 - $1.15bn for 2012 for the Research division and $1.6 - $1.65bn for the group as a whole.

Web site: www.gartner.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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