Eric, this is the real scoop. ML was loosing customers big time because they were the only slut not recommending I-nets, and their investors wanted to be where the action is.
So they hired this "One great guess" pimp away from another slut, and the rest is history.
Tell Kis to read this. He might not believe why I bought Forr last month.
>>
CAMBRIDGE, Mass.--(BUSINESS WIRE)--July 21, 1999--Forrester
Research, Inc. (Nasdaq:FORR), a leading provider of eCommerce research
and analysis, today announced revenues of $19.7 million for the second
quarter ended June 30, 1999, an increase of 31% from $15.0 million in
the second quarter of 1998. Net income for the second quarter of 1999
was $2.2 million, a 38% increase over net income of $1.6 million in
the comparable period of 1998. Diluted earnings per share increased to
$0.24 per share in the second quarter of 1999 from $0.17 per share in
the second quarter of 1998.
For the six-month period ended June 30, 1999, Forrester reported
that revenues increased 33% to $37.6 million from $28.2 million for
the same period one year ago. Net income for the first six months of
1999 was $4.1 million, a 40% increase over net income of $3.0 million
for the same period last year. Diluted earnings per share increased to
$0.43 per share in the six months ended June 30, 1999 versus $0.32 per
share in the comparable period of 1998. The agreement value of the
company's core research and advisory services at June 30, 1999
increased 43% to $80.3 million from $56.0 million at June 30, 1998.
"We are very pleased with our second-quarter performance. Our
continued growth and solid financial results demonstrate that our
target market recognizes the value of Forrester's distinct analysis
and insight, our proven track record, and our branded research
methodology," commented George F. Colony, the company's chairman of
the board, president, and chief executive officer. "Our revenue growth
continues to reflect strong demand for our research, a smooth
transition to our new Forrester eResearch(tm) product, and a highly
successful Finance Forum. Forrester's earnings continued to expand,
driven by the combination of our sales growth and greater operating
efficiencies."
Colony added, "The second quarter was marked by several exciting
achievements as we extended our leadership in Internet commerce
research. The success of our sold-out Finance Forum in New York speaks
to the strength of our reputation, the extent of our influence, and
the value of our content. Our highest-rated event in the past two
years, the Forum featured presentations from industry leaders and
attracted Internet strategy and marketing executives from across the
country. During the quarter, we also expanded the scope of our
Technographics(R) research through several strategic partnerships. In
addition, we secured a new corporate headquarters for Forrester in
Cambridge, Mass., and expect to relocate there later in the year."
"Our visibility in Europe is expanding as well. We successfully
launched our newest research offering, European Corporate Technology,
in April. To promote our new European research coverage, we completed
a 10-city press tour that included stops in Paris, Milan, Madrid, and
other major cities in continental Europe. We were excited to discover
that after barely a year on the ground in Europe, our name and
reputation had preceded us. In each of the cities we visited,
Forrester was already a familiar name."
"I am particularly pleased with the completion of our transition
to Forrester eResearch in the second quarter -- we have already begun
to improve functionality and add new features based on client
feedback. The technology infrastructure that supports Forrester
eResearch enables us to launch new research coverage lenses faster and
more effectively. Given the pace and significance of developments in
the ever-changing Internet economy, Forrester eResearch also enables
us to respond more quickly and decisively to shifts in the market,
another advantage that further differentiates us."
Colony concluded, "We are looking ahead to an active third
quarter, during which we plan to accelerate the expansion of our
research into a number of exciting new segments that will further
increase our position as the leading player in Internet commerce
research. In addition, our Marketing & New Media Forum is shaping up
to be a blockbuster event. We continue to believe that Forrester's
revenue and earnings growth will accelerate during the second half of
1999 as we expand business within existing accounts, add new clients,
host events, and generate greater operating efficiencies."
Forrester Research is a leading independent research firm that
analyzes technology change and its impact on business, consumers, and
society. Forrester's "whole view" of the Internet economy enables
clients to weave together Internet commerce initiatives with corporate
systems to satisfy the customer's changing needs. Clients receive the
"whole view" through Forrester's unique eResearch reports, an array of
advisory services, and events. Established in 1983, Forrester is
headquartered in Cambridge, Mass. The Forrester European Research
Center is located in Amsterdam, Netherlands. Additional information
about Forrester Research can be found at www.forrester.com.<< |
