Revenue during the quarter grew 3.05 percent to $83.45 million from $80.98 million in the previous year period. Gross margin for the quarter expanded 240 basis points over the previous year period to 60.76 percent. Total expenses were 89.17 percent of quarterly revenues, down from 94.93 percent for the same period last year. This has led to an improvement of 576 basis points in operating margin to 10.83 percent.

Operating income for the quarter was $9.04 million, compared with $4.11 million in the previous year period.

“Forrester attained revenue guidance for 2016 while exceeding its operating income and EPS guidance for the fourth quarter and full year,” said George F. Colony, Forrester’s chairman and chief executive officer. “In 2017, the company will complete the rollout of its new selling model and accelerate the digitization of its product lines. These efforts will enable the company to reach double-digit growth in 2018 and beyond.”

For the first-quarter, Forrester Research, Inc projects revenue to be in the range of $74.50 million to $77.50 million. Forrester Research projects revenue to be in the range of $324 million to $332 million for financial year 2017. The company projects operating income to grow in the range of 2 percent to 4 percent for the first-quarter. For fiscal year 2017, the company projects operating income to grow in the range of 7.80 percent to 8.80 percent. The company forecasts diluted earnings per share to be in the range of $0.05 to $0.09 for the first-quarter. For financial year 2017, the company forecasts diluted earnings per share to be in the range of $0.84 to $0.91.