'Solid' Year for Forrester

Technology specialist Forrester Research has announced results for the fourth quarter and the full calendar year 2010. Net income fell versus the previous year but was still respectable, while full year revenue rose 7.4% to $250.7m.

Fourth quarter revenues rose around 9% to $67.1m from $61.5m a year previously. On a pro forma basis, net income was $5.9m, or $0.26 per diluted share, down from $7.9m, or $0.35 per diluted share in Q4 2009.

For the full year, total revenues were up 7.4% from $233.4 million in 2009. On a pro forma basis, net income was $24.8m, down from $29.1m ($1.27 per diluted share) in 2009.

Chairman and CEO George F. Colony says the company had a solid fourth quarter and full year as the economy 'began its slow recovery'. He comments: 'We continued to successfully execute our role-based strategy and achieved all-time highs in our client and dollar retention rates during 2010.' The firm's differentiated offerings for marketing and strategy professionals continued to be the fastest-growing part of the business. Colony noted 'significant investments to support growth' made in 2010 and continuing in 2011, including more office space in key markets, a new corporate HQ due later in the year, continuing hiring of research and sales personnel, and investment in customer-facing platforms to enhance clients' experience.

GAAP-based first-quarter guidance is $63.0 - $65.0m, with operating margin of c. 5.5% to 7.5% (pro forma c.10.0 - 12.0%) and diluted EPS of c. $0.10 to $0.14 (pro forma c.$0.17 - $0.21).

For the full year, it expects total revenues of c. $282 - $288 million, operating margin of 12.5% to 13.5% (pro forma 16.0% to 17.0%) and diluted EPS of c. $0.96 to $1.02 (pro forma $1.22 to $1.28).

The group is online at www.forrester.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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