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Forrester’s profit declines 27 percent

Associated Press / February 11, 2010

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CAMBRIDGE - Forrester Research Inc.’s fourth-quarter net income fell 27 percent as business for both its research and advisory services declined, the firm said yesterday. Forrester earned $6.7 million, or 29 cents per share, compared with $9.2 million, or 39 cents, a year earlier.

Excluding one-time items, Forrester recorded earnings of $7.9 million, or 35 cents per share, for the period. That compares with $9 million, or 38 cents, a year before.

Revenue fell 2 percent, to $61.5 million. Analysts polled by Thomson Reuters expected revenue of $59.8 million.

For the year, Forrester earned $19.8 million, or 86 cents per share, down from $29.2 million, or $1.24 per share, in 2008. Revenue was $233.4 million, down from $240.9 million.

Looking ahead, Forrester forecast first-quarter revenue of $57.5 million to $59.5 million and earnings, excluding one-time items, of 21 to 25 cents per share.

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