Forrester On Target for Good Year

Technology researcher Forrester has announced results for the third quarter, with total revenue up 28% to $108.6m, reflecting the acquisition of SiriusDecisions.

The b2b acquisition, for c.$245m in cash, was announced last November and completed at the turn of the year.

Revenue for the Research division grew 32%, very similar to the rise in the first quarter, while advisory services and events revenues increased 19%. The integration process, which Chairman and CEO George F. Colony (pictured) describes as 'on track', seems to have affected profits, which a GAAP net loss of $2.7m replacing last year's Q3 net income of $4.0m. Pro forma net income however rose slightly, from $6.0m to $6.5m.

'Forrester was at the upper end of revenue guidance and exceeded our pro forma EPS targets for the quarter' says Colony. 'Q3 marked another solid quarter for us with growth across all geographic regions'. For the full year, Forrester is projecting total revenues in the range $458.0m to $463.0m, with an operating margin of approximately (1.0) % to 0.0%.

Web site: www.forrester.com .