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Gartner Beats Market Expectations
Technology market research firm Gartner has posted a 1% increase in fourth quarter profit to $347.3m, helped by good growth in its research and consulting segments. For the year, the firm has posted a 9% revenue increase to $1.28bn.
Contract value, a key indicator for Gartner's Research segment, increased 11% to $834.3m. Excluding the impact of foreign exchange, this figure rose 8% year-on-year.
Research revenue for fourth quarter 2008 was up 5% to $190.2m, while for the full year, revenue increased 15% to $772.2m. At December 31 2008, research contract value rose 11% to a record $834.3m.
For the consulting arm, revenue for fourth quarter 2008 increased 3% to $94.3m, while for the full year, it climbed 7% to $347.4m.
Commenting on the full-year results, CEO Gene Hall said: 'During 2008, we generated 9% revenue growth, expanded our margins and ended the year with record contract value. Our performance demonstrates the tremendous value that our services contribute to the effective management of IT programs and investments, which remains a critical business function even in the most challenging economic environments.'
Based on full year revenue outlook, the company is now predicting that research will generate $750m, while consulting will bring in $295m.
Web site: www.gartner.com .
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