Forrester reported revenues of $77.4 million for the first quarter of 2016, compared with $75.2 million for the first quarter of 2015. Research revenues increased 3%, and advisory services and events revenues increased 4%, compared with the first quarter of 2015.
On a GAAP basis, net income was $1.0 million, or $0.06 per diluted share, for the first quarter of 2016, compared with a net loss of $0.2 million, or $(0.01) per diluted share, for the same period in 2015.
“The company continues to gain momentum. Forrester was at the upper end of revenue guidance and met pro forma operating income and EPS targets for the first quarter,” said George F. Colony, Forrester’s chairman and chief executive officer. “The Forrester Connect business (which includes Leadership Boards and Executive Programs) and the Forrester Events business are showing significant performance improvements over 2015. While we still have work to do to increase our revenue and margin growth, we are happy with how we have started 2016.”
Source: Forrester Earning Release