FORRESTER RESEARCH, INC.
Income Statement
| Line Item | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $357.6M | $337.7M | $326.1M | — | — | — | $292.9M | $283.6M |
| Cost of Revenue | $129.1M | $118.7M | $112.2M | $110.2M | $120.0M | $110.8M | $107.0M | — |
| Gross Profit | $229.2M | $219.0M | $213.9M | $203.5M | $192.1M | $186.9M | $186.0M | — |
| Gross Margin | 64.1% | 64.8% | 65.6% | — | — | — | 63.5% | — |
| Operating Expenses | ||||||||
| Research & Development | — | — | — | — | — | — | — | — |
| SG&A Expense | $201.1M | $190.6M | $181.3M | $179.4M | $169.9M | $160.9M | $151.4M | $147.0M |
| Operating Income | $22.4M | $27.5M | $30.8M | $18.8M | $18.2M | $21.8M | $30.8M | $36.7M |
| Operating Margin | 6.3% | 8.2% | 9.4% | — | — | — | 10.5% | 12.9% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $23.5M | $27.4M | $30.7M | $19.3M | $18.4M | $20.0M | $32.2M | $36.9M |
| Income Tax Expense | $8.1M | $12.2M | $13.1M | $7.3M | $7.5M | $7.0M | $5.9M | $15.0M |
| Net Income | $15.4M | $15.1M | $17.7M | $12.0M | $10.9M | $13.0M | $26.3M | $22.0M |
| Net Margin | 4.3% | 4.5% | 5.4% | — | — | — | 9.0% | 7.8% |
| EPS (Basic) | $0.85 | $0.84 | $0.98 | $0.67 | $0.58 | $0.62 | $1.17 | $0.97 |
| EPS (Diluted) | $0.84 | $0.83 | $0.97 | $0.66 | $0.57 | $0.61 | $1.15 | $0.95 |
| Shares Outstanding (Basic) | 18.1M | 17.9M | 18.0M | 17.9M | 18.7M | 20.9M | 22.5M | 22.7M |
| Shares Outstanding (Diluted) | 18.4M | 18.2M | 18.3M | 18.1M | 19.0M | 21.4M | 22.9M | 23.2M |
| Dividends Per Share | $0.80 | $0.76 | $0.72 | $0.68 | $0.64 | $0.60 | $0.56 | — |