Forrester Reports 5% Revenue Growth

US technology research and consulting firm Forrester Research has reported second quarter revenue of $82.9m, up 5% from $79.0m 12 months previously. Revenue for the Research division rose more slowly, up 2% to $52.3m.

Last year, after a few tough quarters, 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, Forrester put in place what it describes as a 'unified global research business', and later that year, Chairman and CEO George Colony (pictured) described the firm's resulting recovery as a 'work in progress'.

For the second quarter of 2014, on a GAAP basis, net income was $4.3m, compared with $6.2m for the same period in 2013. On a pro forma basis, net income was $6.2m, down from $7.2m for the same period in 2013.

During the period, Advisory Services and Event revenues increased 11% to $30.6m, compared with $27.6m in the second quarter of 2013.

Colony comments: 'While there is still much work to do, there are indications that our efforts to return the company to traditional growth profitability levels are gaining traction. As in the first quarter, bookings in revenue continue to strengthen, highlighting improvements in the selling and delivery organizations. At mid-year we are running ahead of our plan.'

Web site: www.forrester.com .