Strong First Quarter for ISG

Research and advisory group ISG (Information Services Group) has reported a 5% increase in first quarter revenue to $50.5m, from $48.2m in the same period last year - despite a negative impact equivalent to $3.7m as a result of currency changes. Profits also jumped.

Founded in 2007 as an acquisition vehicle, ISG bought outsourcing advisory firm TPI, UK-based benchmarking and analytics specialist Compass and public sector advisor STA Consulting. In February, the company set up a dedicated Cloud Solutions practice to help clients as they move work to the cloud.

ISG said Q1 revenues were $27.6m in the Americas (up 14% from the same period in 2014), $18.1m in Europe (up 7%), and $4.8m in Asia Pacific (up 34%), with growth rates in constant currency.

Operating income was $2.0m, compared with $1.0m in Q1 2014, and net income was $0.9m, up from $0.1m in the prior year period. Adjusted net income for the first quarter was $2.0m, up 58%, and adjusted EBITDA increased 55% to $4.6m on a constant currency basis.

Chairman and CEO Michael Connors (pictured) comments: 'Continued double-digit growth in recurring revenue streams and significant new public sector wins across the Americas and Australia helped drive our strong performance. In addition, we extended our multiyear, multimillion-dollar agreement with a large UK government agency. We anticipate continued solid demand across all regions in 2015, although like most multinationals, our reported results are negatively impacted by currency translation.'

Web site: www.isg-one.com .

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