Forrester Research Reports Fourth-Quarter And Full-Year Financial Results

Forrester Research Reports Fourth-Quarter And Full-Year Financial Results | Bild: © ad-hoc-news

Fourth-Quarter Financial Performance

A reconciliation of GAAP results to pro forma results may be found in the attached financial tables.

?Revenue increased 11% in the quarter, which was in line with expectations, while operating margin and earnings per share exceeded guidance,? said George F. Colony, Forrester?s chairman and chief executive officer. ?For the full year, we achieved revenue growth exceeding 13% and earnings-per-share growth of over 18%.?

?For 2012, we have realigned our sales force to simplify the sales process for our customers and to increase our sales productivity,? said Colony. ?We will continue to invest in client-facing and sales support systems. Our 2012 operating margin guidance reflects the incremental costs of facility and technology investments in 2011 and 2012.?

Quarterly Dividend

Forrester also announced today that its Board of Directors has approved a quarterly dividend of $0.14 per share payable March 21, 2012, to shareholders of record on March 7, 2012. ?We believe the decision to institute a regular quarterly dividend provides an appropriate return to our shareholders,? said Michael A. Doyle, Forrester?s chief financial officer. ?Our strong balance sheet and cash flow allow us to implement this regular quarterly dividend while at the same time leave us well positioned to continue to invest for innovation and growth.?

Year Ended December 31, 2011, Financial Performance

A reconciliation of GAAP results to pro forma results may be found in the attached financial tables.

Forrester is providing first-quarter 2012 financial guidance as follows:

First-Quarter 2012 (GAAP):

First-Quarter 2012 (Pro Forma):

Pro forma financial guidance for the first quarter of 2012 excludes stock-based compensation expense of $1.1 million to $1.3 million, amortization of acquisition-related intangible assets of approximately $0.6 million, reorganization costs of $1.3 million to $1.5 million, and any investment gains or losses.

Our full-year 2012 guidance is as follows:

Full-Year 2012 (GAAP):

Full-Year 2012 (Pro Forma):

Pro forma financial guidance for full-year 2012 excludes stock-based compensation expense of $4.5 million to $5.0 million, amortization of acquisition-related intangible assets of approximately $2.4 million, reorganization costs of $1.3 million to $1.5 million, and any investment gains or losses.

About Forrester Research

Forrester Research, Inc. (Nasdaq: FORR) is an independent research company that provides pragmatic and forward-thinking advice to global leaders in business and technology. Forrester works with professionals in 19 roles at major companies providing proprietary research, customer insight, consulting, events, and peer-to-peer executive programs. For more than 28 years, Forrester has been making IT, marketing, and technology industry leaders successful every day. For more information, visit www.forrester.com.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, Forrester?s financial guidance for the first quarter of and full-year 2012 and future quarterly dividends. These statements are based on Forrester?s current plans and expectations and involve risks and uncertainties that could cause actual future activities and results of operations to be materially different from those set forth in the forward-looking statements. Important factors that could cause actual future activities and results to differ include, among others, Forrester?s ability to retain and enrich memberships for its research products and services, technology spending, Forrester?s ability to respond to business and economic conditions and market trends, the risks and challenges inherent in international business activities, competition and industry consolidation, the ability to attract and retain professional staff, Forrester?s dependence on key personnel, and possible variations in Forrester?s quarterly operating results. Forrester undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. For further information, please refer to Forrester?s reports and filings with the Securities and Exchange Commission.

The consolidated statements of income and the table of selected balance sheet and cash flow data are attached.

Stock-based compensation included in thefollowing expense categories:

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