$FORR
FORRESTER RESEARCH, INC.

2017 Q2 Form 10-Q Financial Statement

#000156459018020447 Filed on August 08, 2018

View on sec.gov

Income Statement

Concept 2017 Q2
Revenue $89.73M
YoY Change 2.18%
Cost Of Revenue $32.80M
YoY Change 7.13%
Gross Profit $56.93M
YoY Change -0.47%
Gross Profit Margin 63.45%
Selling, General & Admin $46.53M
YoY Change 2.23%
% of Gross Profit 81.72%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.690M
YoY Change -25.88%
% of Gross Profit 2.97%
Operating Expenses $46.53M
YoY Change 2.23%
Operating Profit $10.21M
YoY Change -10.97%
Interest Expense $0.00
YoY Change -100.0%
% of Operating Profit 0.0%
Other Income/Expense, Net $93.00K
YoY Change -80.34%
Pretax Income $10.28M
YoY Change -13.51%
Income Tax $4.220M
% Of Pretax Income 41.03%
Net Earnings $6.064M
YoY Change -18.71%
Net Earnings / Revenue 6.76%
Basic Earnings Per Share $0.34
Diluted Earnings Per Share $0.34
COMMON SHARES
Basic Shares Outstanding 17.72M
Diluted Shares Outstanding 18.05M

Balance Sheet

Concept 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $125.2M
YoY Change -1.05%
Cash & Equivalents $67.10M
Short-Term Investments $58.10M
Other Short-Term Assets $23.80M
YoY Change -7.75%
Inventory
Prepaid Expenses
Receivables $51.00M
Other Receivables $0.00
Total Short-Term Assets $200.0M
YoY Change 2.56%
LONG-TERM ASSETS
Property, Plant & Equipment $24.40M
YoY Change -5.43%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $13.60M
YoY Change -27.66%
Total Long-Term Assets $114.2M
YoY Change -5.7%
TOTAL ASSETS
Total Short-Term Assets $200.0M
Total Long-Term Assets $114.2M
Total Assets $314.2M
YoY Change -0.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.100M
YoY Change 57.14%
Accrued Expenses $32.30M
YoY Change 5.56%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $178.8M
YoY Change 5.24%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $8.000M
YoY Change -14.89%
Total Long-Term Liabilities $8.000M
YoY Change -14.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $178.8M
Total Long-Term Liabilities $8.000M
Total Liabilities $186.8M
YoY Change 4.12%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $127.4M
YoY Change
Total Liabilities & Shareholders Equity $314.2M
YoY Change -0.6%

Cashflow Statement

Concept 2017 Q2
OPERATING ACTIVITIES
Net Income $6.064M
YoY Change -18.71%
Depreciation, Depletion And Amortization $1.690M
YoY Change -25.88%
Cash From Operating Activities $7.440M
YoY Change -24.7%
INVESTING ACTIVITIES
Capital Expenditures -$1.700M
YoY Change 44.07%
Acquisitions
YoY Change
Other Investing Activities $2.270M
YoY Change -113.85%
Cash From Investing Activities $570.0K
YoY Change -103.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -16.66M
YoY Change 1566.0%
NET CHANGE
Cash From Operating Activities 7.440M
Cash From Investing Activities 570.0K
Cash From Financing Activities -16.66M
Net Change In Cash -8.650M
YoY Change -0.46%
FREE CASH FLOW
Cash From Operating Activities $7.440M
Capital Expenditures -$1.700M
Free Cash Flow $9.140M
YoY Change -17.36%

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<div> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Out of Period Adjustment</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">During the quarter ended June 30, 2018, the Company recorded $1.0 million of revenue ($0.7 million after tax) for an out-of-period correction within research services in the Consolidated Statements of Income. The error resulted from an understatement of revenue from the reprint product line of $0.8 million ($0.5 million after tax) during the three months ended March 31, 2018 and $0.2 million ($0.1 million after tax) from the year ended December 31, 2017. The Company has concluded that the errors are not material to the current period and all prior period financial statements.</p></div>
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