Research Revenues Down at Forrester

US technology specialist Forrester Research has reported a 3% drop in its first quarter Research revenues, to $51.7m. Overall first quarter group revenues were down slightly from $77.4m to $77.2m.

On a pro forma basis, net income was $3.2m, down a fraction from $3.4m for Q1 2016.

While the Research division reported a fall in revenues, divisional revenues for Advisory Services and Events increased 5% to $25.4m. The group's total headcount now stands at 1,375 - in the past year, an additional 53 staff have joined, 28 of whom work in research or consultancy roles.

CEO George Colony (pictured) comments: 'Forrester met revenue and pro forma operating margin guidance while exceeding EPS targets for the first quarter. Our new selling model is showing results, and the continued digitization of our syndicated products continues to move forward. The year has kicked off well - we're happy with where we are at the start of 2017'.

Web site: www.forrester.com .