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Forrester Research Q1 Profit Rises

Forrester Research Inc. (FORR: Quote) reported first-quarter net income of $3.2 million or $0.14 per share, up from $2.9 million or $0.13 per share last year.

Excluding items, pro forma net income was $5.1 million or $0.22 per share, compared to $4.8 million or $0.21 per share a year ago.

On average, 4 analysts polled by Thomson Reuters expected earnings of $0.18 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter rose to $70.3 million from $65.7 million a year ago.

Analysts expected revenues of $70.27 million for the quarter. Looking ahead, the company expects earnings of $0.94-$1.00 per share and revenues of $308.0 million-$316.0 million for the full year 2012.

Analysts currently expect earnings of $1.20 per share and revenues of $311.78 million for the full year 2012 .

The company noted that its board of directors has approved a quarterly dividend of $0.14 per share payable June 20 to shareholders of record on June 6.

by RTT Staff Writer

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