Forrester Research, Inc. (Nasdaq: FORR) Q1 2017 revenues were $77.2 million, compared with $77.4 million for the first quarter of 2016. Research revenues decreased 3%, and advisory services and events revenues increased 5%, compared with the first quarter of 2016.
On a GAAP basis, net income was $3.0 million, or $0.16 per diluted share, for the first quarter of 2017, compared with a net income of $1.3 million, or $0.07 per diluted share, for the same period in 2016. The company recognized a $1.3 million income tax benefit during the first quarter of 2017 related to the closure of a tax audit during the period.
“Forrester met revenue and pro forma operating margin guidance while exceeding EPS targets for the first quarter,” said George F. Colony, Forrester’s chairman and chief executive officer. “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.”