Forrester Research Inc. (NASDAQ:FORR) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Forrester Research Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 4.55% to $0.21 in the quarter versus EPS of $0.22 in the year-earlier quarter.
Revenue: Rose 1.76% to $71.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Forrester Research Inc. reported adjusted EPS income of $0.21 per share. By that measure, the company beat the mean analyst estimate of $0.12. It beat the average revenue estimate of $67.59 million.
Quoting Management: “Forrester exceeded guidance on revenue, operating margin, and earnings per share for the first quarter,” said George F. Colony, Forrester’s chairman and chief executive officer. “While we are encouraged by the operating results, our performance is not yet consistent across all geographies. During the first quarter, we saw strong performance from some sales teams, while others are still stabilizing. Our recovery is continuing, but it is not complete.”
Key Stats (on next page)…
Revenue decreased 4.76% from $75.07 million in the previous quarter. EPS decreased 25% from $0.28 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.32 to a profit $0.23. For the current year, the average estimate has moved down from a profit of $1.14 to a profit of $0.83 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)