Revenue Up, Net Income Down at Forrester

Technology specialist Forrester Research has announced a slight increase in first quarter revenues to $71.5m, compared with $70.3m in the prior year period. Net income meanwhile fell from $2.3m to $0.9m.

In Q1 2013, revenues from the company's Research division were up 1% to $50.4m compared with $49.8m in Q1 2012, while those from Advisory and Other Services increased 3% from $20.5m to $21.1m.

Three months ago, the firm reported it was making 2.5% of its staff redundant in a bid to get its costs more in line with projected revenue in 2013.

Chairman and CEO George Colony (pictured) comments: 'While we are encouraged by the operating results, our performance is not yet consistent across all geographies. During the first quarter, we saw strong performance from some sales teams, while others are still stabilizing. Our recovery is continuing, but it is not complete.'

Forrester is anticipating total revenues of $77.5m to $80.5m for the second quarter of 2013, and $290.0m to $298.0m for the full year.

Web site: www.forrester.com .