Gartner, Inc. (NYSE: IT), the leading provider of research and analysis on the global information technology industry, today reported results for third quarter 2012 and updated its projection for full year 2012 revenues and reiterated its outlook for Normalized EBITDA, EPS, and cash flows.
Total revenue was $374.4 million for third quarter 2012, up 8% compared to third quarter 2011. Total revenue increased 12% excluding the impact of foreign exchange. Third quarter 2012 net income was $31.4 million, an increase of 3% over third quarter 2011. Normalized EBITDA was $68.0 million in third quarter 2012, an increase of 9% over third quarter 2011. Diluted income per share was $0.33 in third quarter 2012 compared to $0.31 in third quarter 2011. Diluted Income Per Share Excluding Acquisition Adjustments, which excludes the impact of acquisition-related adjustments, was $0.35 per share for third quarter 2012 and $0.31 per share for third quarter 2011. See “Non-GAAP Financial Measures" below for a discussion of Normalized EBITDA and Diluted Income Per Share Excluding Acquisition Adjustments.
For the nine months ended September 30, 2012, total revenue was $1,141.1 million, an increase of 10% over the 2011 period. Excluding the impact of foreign exchange, revenues increased 12%. Net income was $107.1 million in the nine months ended September 30, 2012, an increase of 17% over the same period in 2011. Normalized EBITDA was $218.2 million in the 2012 period, an increase of 12% over 2011. Diluted income per share was $1.12 in 2012 compared to $0.92 in 2011, an increase of 22%. Diluted Income Per Share Excluding Acquisition Adjustments was $1.16 in 2012 and $0.96 in 2011.
Gene Hall, Gartner's chief executive officer, commented, “We continued our trend of delivering consistent, double-digit growth in the third quarter. Revenue, contract value, Normalized EBITDA and EPS were again consistent with our long-term expectations. The increases in our revenue and contract value, in addition to maintaining key operating metrics such as client retention at or near all-time highs, illustrate both the strong value we provide our clients and the sizeable market opportunity for our services. As we look ahead to the final quarter of 2012, we remain excited about the opportunity we see in the market and expect to deliver another year of double-digit growth as measured by our key business metrics.”
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV