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Q3 Revenue Climbs at Forrester
Technology specialist Forrester Research has reported third quarter revenue up 3% for its Research division and 6% in its Advisory Services and Events wing, for a total of $80.4m (Q3 2016 $77.4m). Pro forma net income fell slightly to $5.6m on substantially increased operating expenses.
 Pro forma net income was $6.0m in Q3 2016. Total operating expenses increased from $69.9m in the third quarter last year to $73.6m a year later.
Chairman and CEO George F. Colony (pictured) says the firm found the 'upper end of revenue guidance while exceeding pro forma operating margin and EPS guidance' for the quarter, and adds, 'We remain positive about our strategy and growth'. For the fourth quarter, Forrester predicts total revenues of c. $83.0 - $86.0m; pro forma operating margin of c.9.5% - 11.5% and pro forma EPS of c.$0.27 to $0.31. For the full year, revenue should be $330.0 - $333.0m, pro forma operating margin c. 10.5% - 11.5%, and pro forma diluted EPS c.$1.17 to $1.21.
Web site: www.forrester.com .
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