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ISG Second Quarter Revenues Rise 20%
Information Services Group (ISG), the US-based acquisition firm started by former senior execs from Nielsen / VNU, has reported an increase in first half revenues of 13% to $96.2m, with second quarter revenues up 20% to $50.7m.
ISG completed the acquisition of outsourcing data and advisory firm TPI in November 2007, prior to which, ISG was a special purpose acquisition company and had no operations. For comparability between 2008 and 2007 financial results, therefore, proforma results have been applied on the basis that the acquisition of TPI occurred on January 1, 2007.
On this basis, revenues from international operations increased 27.0% from proforma first half 2007 levels, driven by strong client demand across all of the company's geographies and industry verticals. First half 2008 revenues in the Americas were up 3.2% compared to the same prior year period.
Reported operating income for the first half of 2008 was $9.5m, a $5.9 million or 164.0% leap from a proforma first half 2007 total of $3.6m. ISG's operating income for the first six months was up $10.0m from a reported operating loss of $0.5m during the same period in 2007. Reported net income for the first half of 2008 totaled $4.1m, up $4.1m from a modest proforma net loss for the same prior year period. First half 2008 net income increased $1.4m from $2.7m reported during the first half of 2007.
'ISG delivered double digit organic revenue growth with record margins in the first half of 2008,' stated Chairman and CEO Michael Connors. 'The overall sourcing market has grown strongly over the past six months, particularly in Western Europe. ISG's global leadership and robust geographic footprint have positioned us to support our client's needs to drive efficiencies in their key technology and business processes in the face of one of the most challenging macro-economic climates in recent memory.'
Connors, who was previously Chairman and CEO of VNU's MMI Group and founded ISG in 2006 with two other past VNU/Nielsen executives, says he believes that his firm's increased level of investment in new products and services will underpin continued organic growth and the achievement of its three year business plan goals. The Stamford, CT-headquartered firm is online at www.informationsg.com .
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