ISG reported fourth full year 2012 revenues of $192.7 million, an increase of 7% in constant currency (up 5% on a reported basis) or up $8.3 million from $184.4 million in 2011. The strengthening dollar negatively impacted revenue by $4.2 million compared to the prior year.
Revenues were $104.9 million in the Americas up 21% and $25.1 million in Asia Pacific up 8% offsetting a 10% decline in Europe to $62.7 million; growth rates are in constant currency.
ISG reported operating income of $6.6 million for the year ended December 31, 2012 compared to an operating loss of $60.8 million for the year ended December 31, 2011. Operating income for 2012 included the third quarter release of a performance based liability tied to the STA Consulting earn-out that is not projected to materialize, totaling $1.9 million. The operating loss for 2011 included the non-cash impairment charge of $61.7 million and $4.0 million in acquisition-related and restructuring costs.
Reported 2012 diluted EPS totaled $0.02 compared to a loss of $(1.54) in 2011. Diluted adjusted EPS for 2012 was $0.18 compared to $0.09 in 2011. Diluted adjusted EPS for 2011 excluding acquisition-related and restructuring costs was $0.16. Adjusted EBITDA for 2012 was $18.2 million compared to $15.0 million of adjusted EBITDA for 2011.
Currency negatively affected adjusted EBITDA by $0.5 million versus the prior year period. Adjusted
EBITDA for 2012 included the release of a performance based liability totaling $1.9 million tied to the STA Consulting earn-out that is not projected to materialize. Adjusted EBITDA for 2011 included $4.0 million in acquisition-related and restructuring costs.
Information Services Group (ISG) (NASDAQ: III) is a leading technology insights, market intelligence and advisory services company, serving more than 500 clients around the world to help them achieve operational excellence. ISG supports private and public sector organizations to transform and optimize their operational environments through research, benchmarking, consulting and managed services, with a focus on information technology, business process transformation, program management services and enterprise resource planning. Clients look to ISG for unique insights and innovative solutions for leveraging technology, the deepest data source in the industry, and more than five decades of experience of global leadership in information and advisory services. Based in Stamford, Conn., the company has more than 800 employees and operates in 21 countries.
Source: ISG Press Release