Revenue during the quarter went down marginally by 0.27 percent to $77.19 million from $77.40 million in the previous year period. Gross margin for the quarter contracted 46 basis points over the previous year period to 59.33 percent. Total expenses were 95.94 percent of quarterly revenues, down from 96.50 percent for the same period last year. This has led to an improvement of 56 basis points in operating margin to 4.06 percent.

Operating income for the quarter was $3.14 million, compared with $2.71 million in the previous year period.

“Forrester met revenue and pro forma operating margin guidance while exceeding EPS targets for the first quarter,” said George F. Colony, Forrester’s chairman and chief executive officer. “Our new selling model is showing results, and the continued digitization of our syndicated products continues to move forward. The year has kicked off well ��" we’re happy with where we are at the start of 2017.”

For the second-quarter 2017, Forrester Research, Inc projects revenue to be in the range of $86 million to $89 million and its operating income to grow in the range of 8 percent to 10 percent and its diluted earnings per share to be in the range of $0.23 to $0.27.

For fiscal year 2017, Forrester Research, Inc projects revenue to be in the range of $324 million to $332 million and its operating income to grow in the range of 7.80 percent to 8.80 percent and its diluted earnings per share to be in the range of $0.90 to $0.97.