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Profits Up, Revenue Flat at ISG
Research and advisory group ISG (Information Services Group) has reported fourth quarter revenues of $53.2m, up 4% at constant currencies. Full-year revenue was flat at $209.6m, with growth in Europe balancing declines in the Americas and Asia Pacific; but adjusted EBITDA rose 5% to $23.2m.
 Founded in 2007 as an acquisition vehicle, ISG first bought outsourcing advisory firm TPI, then in 2011 acquired UK-based benchmarking and analytics specialist Compass and public sector advisor STA Consulting.
During the fourth quarter of 2014, operating income was up 12% to $3.3m, adjusted net income rose 5% to $2.2m and adjusted EBITDA was up 20% to $6.3m. By region, on a constant currency basis, fourth quarter revenues were $23.2m in Europe - up 18% from the same period in 2013, while they fell 6% to $25.4m in the Americas, and were down 2% to $4.6m in Asia Pacific.
Full year revenue was $209.6m compared with $211.0m in 2013, and was also flat at constant currencies. Operating income increased to $12.7m from $11.7m in 2013, net income rose 32% to $6.3m from $4.8m, and full-year 2014 adjusted net income was up 10% to $11.6m. Full-year adjusted EBITDA rose 5% to $23.2m on constant currency (3% on a reported basis) from $22.6m the previous year. Revenue in Europe rose 11% to $84.1m, but fell 7% to $105.9m in the Americas, and 3% to $19.6m in Asia Pacific.
Chairman and CEO Michael Connors (pictured) commented: 'Investments in the firm's recurring revenue streams - Research, Managed Services and longer-term public sector contracts - led to fourth-quarter and full-year growth of 19%. The expansion of our digital capabilities and our enhanced Service and Integration Management (SIAM) solutions are just a few examples of the investments we are making in the future of our firm. Demand is stronger to start 2015 than a year ago, especially in the Americas, and we remain confident in our strategy and relentless in our drive to execute with excellence.'
Web site: www.isg-one.com .
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