Colony: Forrester recovery ‘not complete’

Total revenues were up at $71.5m for Q1 2013 compared with $70.3m in Q1 2012; however, net income was down $0.9m compared to 2012 at $2.3m.

In February, the company announced a 2.5% cut in its global workforce in anticipation of another year of low growth, and a poor sales performance in 2012, which Forrester’s chairman and CEO George Colony said would “manifest itself in dampened revenue growth in 2013”.

Following the Q1 2013 results, Colony said: “While we are encouraged by the operating results, our performance is not yet consistent across all geographies…Our recovery is continuing but it is not complete.”