Gartner Reports Financial Results For Second Quarter 2012

Gartner, Inc. (NYSE: IT), the leading provider of research and analysis on the global information technology industry, today reported results for second quarter 2012 and reiterated its financial outlook for 2012 revenues, EPS, and cash flows.

Total revenue was $397.5 million for second quarter 2012, up 9% compared to second quarter 2011. Total revenue increased 12% excluding the impact of foreign exchange. Second quarter 2012 net income was $41.5 million, an increase of 29% over second quarter 2011, and Normalized EBITDA was $79.0 million, an increase of 16%. Diluted earnings per share was $0.43 in second quarter 2012 compared to $0.32 in second quarter 2011. Both the second quarter of 2012 and 2011 were negatively impacted by acquisition-related charges of $(0.02) per share after-tax. Diluted Income Per Share Excluding Acquisition Adjustments, which excludes the acquisition-related charges, was $0.45 for second quarter 2012 and $0.34 for second quarter 2011. See “Non-GAAP Financial Measures" below for a discussion of Normalized EBITDA and Diluted Income Per Share Excluding Acquisition Adjustments.

For the six months ended June 30, 2012, total revenue was $766.7 million, an increase of 10%, but excluding the impact of foreign exchange, revenues increased 12%. Net income was $75.7 million in the 2012 period, while Normalized EBITDA was $150.2 million, an increase of 14% over 2011. Diluted income per share was $0.79 in 2012 compared to $0.62 in 2011. Diluted Income Per Share Excluding Acquisition Adjustments was $0.81 for 2012 and $0.65 for 2011.

Gene Hall, Gartner's chief executive officer, commented, “We continued our trend of delivering consistent, double-digit growth in the second quarter. Revenue, contract value, Normalized EBITDA and EPS were again consistent with our long-term expectations. The increases in our revenue and contract value, as well as the expansion of key operating metrics such as client retention, illustrate both the strong value we provide our clients and the sizeable market opportunity for our services. As we look ahead to the second half of 2012, we remain excited about the opportunity we see in the market and expect to deliver another year of double-digit growth in our key business metrics.”

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