Tuesday, August 09, 2022
Information Services Group (III)
Another Solid Quarter
ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 700 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For additional information, visit www.ISG-One.com
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
More Records. ISG announced revenue of $70.7 million for the second quarter, flat with the $70.6 million in the year ago period. On a constant currency basis, revenue rose 5%. The quarter had record net income of $5.0 million, or $0.10 fully diluted EPS, versus $4.1 million and $0.08 the previous year. Adjusted EBITDA also was a record at $10.7 million, a 10% increase year-over-year.
Quarterly Drivers. Revenue was negatively impacted by a higher forex headwind than anticipated. In addition, the completion of a large Automation contract and relatively soft environment in the vertical negatively impacted overall revenue. Nonetheless, ISG continues to see growing demand for specialized services like cybersecurity, data analytics, application development, and technology modernization as well as an increased focus from clients on cost optimization….
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
