Revenue for the first quarter of 2001 increased 42% to $43.6 million from $30.8 million in the first quarter of 2000, Forrester Research reports.
Revenue for the first quarter of 2001 increased 42% to $43.6 million from $30.8 million in the first quarter of 2000, Forrester Research Inc., provider of research and analysis on emerging technologies, reported today. Net income for the first quarter of 2001 rose 40% to $4.9 million, compared with net income of $3.5 million for the same period last year. "Forrester performed well in a challenging first-quarter environment," said George F. Colony, chairman of the board and chief executive officer. "We continued on our growth path in North America and overseas, strengthened our brand, and widened our market coverage."
For the first quarter of 2001, the agreement value of Forrester`s core research and advisory services increased 32% to $170.3 million from $128.7 million in the first quarter of 2000. Deferred revenue for the first quarter of 2001 grew 22% to $93.3 million at March 31, 2001, from $76.8 million in the first quarter of 2000. "Change is Forrester`s energy source,” Colony said. “Our clients are looking for guidance and advice in these transitional times. Our research is showing clients how to use e-business to lower their costs, retain and win customers, drive revenue, and hit profit targets."
Forrester also reported that as a result of unlimited, multilevel access to Forrester`s research staff, the number of client interactions accelerated in the first quarter. Unique client inquiries with the Research Inquiry team grew 90% during the first quarter of 2001 from the fourth quarter of 2000. "The Research Inquiry team has created a personal, fast-response interface to our clients," Colony said. "When companies establish a relationship with Forrester, they are buying not only research but also ongoing and direct contact with our analysts. The growing volume of Research Inquiry team activity we experienced during the first quarter demonstrates that our clients are finding this resource to be increasingly valuable."