Profit Jump in ISG's First Quarter

US-based technology research and advisory firm Information Services Group (ISG) has reported a 4.6% increase in Q1 revenues to $67m - up 1% in constant currency terms. Adjusted EBITDA jumped to $8.6m, from $3.5m in first quarter 2020.

Founded by Connors (pictured) in 2006, and headquartered in Stamford, CT, ISG specializes in digital transformation services, including data analytics; sourcing advisory; change management; market intelligence; and technology research and analysis. The firm employs more than 1,300 people in over twenty countries.

Reported revenues were $38.1m in the Americas, up 7% from the prior year; $22.7m in Europe, an increase of 4%; and $5.7m in Asia Pacific, up 24%. Overall, the group reported first-quarter operating income of $5.0m, compared with an operating loss of $0.7m in the first quarter of 2020; and adjusted net income for the first quarter was $5.5m compared with $1.1m in Q1 2020. For second quarter 2021, the firm is expecting revenues of between $65m and $67m, and adjusted EBITDA of between $8m and $9m.

Among recent highlights, the group's Automation arm has recently won a $10m contract with a 'major entertainment company', which it says is the largest ever signed by the division.

Chairman and CEO Michael Connors said the firm was 'off to its best ever start', adding: 'With rising demand for all things digital and reaping the benefits of our new operating model and disciplined operating approach, we delivered record first-quarter fee revenues and profitability, with new first-quarter highs for adjusted EBITDA, net income and GAAP earnings per share. Momentum is on our side'.

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.