Total Q3 revenues were $69.6 million for the third quarter of 2013, compared with $68.5 million for the third quarter of last year. Research revenues decreased 1%, and advisory services and other revenue increased 8% compared with the third quarter of last year.
For nine month total revenues were $219.2 million, compared with $217.9 million for the same period last year. On a GAAP basis, net income was $10.1 million, or $0.46 per diluted share, for the nine months ended September 30, 2013, compared with net income of $21.3 million, or $0.93 per diluted share, for the same period last year.
Organizational Changes: On October 1, 2013, Forrester modified its operating structure in order to improve the client experience and better support future growth. The move created a single, global research organization that will provide differentiated insight for technology management and marketing professionals. Client demand continues to shift toward technology, systems, and processes that can win, serve, and retain customers. A unified research organization will be better able to help clients in what Forrester has defined as the age of the customer. The new structure also creates a single, global product organization that will provide a more consistent brand experience for clients and fuel future product innovation.
The change led to the creation of two new executive positions: Dennis van Lingen has been named chief product officer. Van Lingen has been a member of the Forrester executive team since 2006. Prior to joining Forrester, he was a senior product manager for Nissan. Van Lingen will continue to serve as Forrester’s chief Europe, Middle East, and Africa (EMEA) officer.
Cliff Condon has been named chief research officer. Condon is a Forrester veteran, having joined the company in 1997. In that time, he has held a variety of senior research management positions. Most recently, he ran Forrester’s global events business.
Source: Forrester Research