Forrester Revenue Up Despite Flat Research Figures

Technology specialist Forrester Research has reported a 3% rise in Q4 revenue to $77.5m, despite a 1% revenue drop in its biggest division, Research, to $51.4m. The latter was driven by an 'expected' contraction in the firm's syndicated data business.

During the quarter, Forrester's Advisory services and other revenues were up 13% to $26.1m from $23.2m in the fourth quarter of 2012.

For 2013, group revenue edged up 1.5% to $297.7m from $293.0m in 2012, while the Research business reported revenues of $202.8m, almost level with $203.1m a year earlier, and Advisory and other services were $94.8m, compared with $89.9m in the previous year. Net income fell to $12.8m in 2013, compared with $26m in 2012.

Last year, the company announced it would be 'streamlining' some support functions with the loss of an estimated 2.5% of its workforce. As part of this process, it put in place what it describes as a 'unified global research business'.

Commenting on the results of these changes, Chairman and CEO George Colony (pictured) said: 'At the close of the year, we saw some early, encouraging signals from the operational improvements we made, which we expect will lead to improved performance as we progress through 2014.'

Web site: www.forrester.com .