Key Developments: Forrester Research Inc (FORR.O)
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Latest Key Developments (Source: Significant Developments)
Forrester Research Inc Announces Expiration And Preliminary Results Of Modified Dutch Auction Self-Tender Offer
Forrester Research Inc announced the expiration and preliminary results of modified Dutch auction self-tender offer to purchase up to $130 million of common stock. Based on the preliminary count by Computershare Trust Company, N.A., the depositary for the tender offer, 2,110,406 shares of Forrester's common stock, including 278,820 shares that were tendered through notice of guaranteed delivery, were properly tendered and not withdrawn at a price at or below the expected final purchase price of $36.00 per share. Based on these preliminary results, Forrester expects to purchase 2,110,406 shares of common stock at a price of $36.00 per share, for a total purchase price of approximately $75,974,616, excluding fees and expenses relating to the tender offer. The shares expected to be purchased in the self-tender offer represent approximately 9.4% of Forrester's currently issued and outstanding common stock. Forrester will fund the purchase of shares in self-tender offer using a portion of cash, cash equivalents, and marketable investments. Payment for shares of Forrester common stock accepted for purchase in the self-tender offer will occur promptly after the final number of shares validly tendered and not withdrawn is confirmed by the depositary for the self-tender offer. UBS Securities LLC served as dealer manager for the tender offer, and Georgeson Inc. served as information agent. Full Article
Forrester Research Inc Issues Q2 2013 Guidance; Revenue Guidance Above Analysts' Estimates; Reaffirms FY 2013 Guidance
Forrester Research Inc announced that for the second quarter of 2013, it expects total revenues of approximately $77.5 million to $80.5 million, diluted earnings per share of approximately $0.18 to $0.22 and pro forma diluted earnings per share of approximately $0.23 to $0.27. For fiscal 2013, the Company expects total revenues of approximately $290.0 million to $298.0 million, diluted earnings per share of approximately $0.52 to $0.59 and pro forma diluted earnings per share (EPS) of approximately $0.79 to $0.86. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $76.7 million and EPS of $0.23 for the second quarter of 2013; and EPS of $0.83 for fiscal 2013. Full Article
Forrester Research Inc Approves Quarterly Dividend
Forrester Research Inc announced that its Board of Directors has approved a quarterly dividend of $0.15 per share payable June 19, 2013, to shareholders of record on June 5, 2013. Full Article
Forrester Research Inc Announces Commencement Of Tender Offer To Repurchase Up To $130 Million Of Common Stock
Forrester Research Inc announced that it is commencing previously announced modified Dutch auction self-tender offer to repurchase up to $130 million of common stock at a price per share within the range of $32.00 to $36.00. The Nasdaq closing price of Forrester's common stock on April 2, 2013, was $34.74 per share. The tender offer will expire at 5:00 p.m., New York City time, on May 1, 2013, unless extended by Forrester. Tenders of shares must be made prior to the expiration of the tender offer and may be withdrawn at any time prior to the expiration of the tender offer, in each case in accordance with the procedures described in the tender offer materials that are being distributed to stockholders. Forrester will use a portion of cash, cash equivalents, and marketable investments to fund the repurchase of shares in the tender offer. UBS Securities LLC will serve as dealer manager for the tender offer. Georgeson Inc. will serve as information agent for the tender offer, and Computershare Trust Company, N.A. will serve as depositary for the tender offer. Full Article
Forrester Research Inc Announces Intention To Commence Tender Offer To Repurchase Up To $130 Million Of Common Stock
Forrester Research Inc announced that it intends to commence later this week a modified Dutch auction self-tender offer to repurchase up to $130 million of common stock at a price per share within the range of $32.00 to $36.00. The Nasdaq closing price of Forrester's common stock on March 28, 2013, was $31.65 per share. A modified Dutch auction self-tender offer allows stockholders to indicate how many shares and at what price within the Company's specified range (in increments of $0.25 per share) they wish to tender. When the tender offer expires, based upon the number of shares tendered and the prices specified by the tendering stockholders, the Company will determine the purchase price, which will be the lowest price per share within the range that will enable the Company to purchase $130 million of common stock (or a lower amount if the offer is not fully subscribed). The tender offer will not be conditioned upon any minimum number of shares being tendered, and it will remain open for at least 20 business days. All shares accepted for payment will be purchased at the same purchase price, regardless of whether a stockholder tendered such shares at a lower price within the range. Full Article
Forrester Research Inc Announces 7% Increase In Quarterly Dividend And Increase In Share Repurchase Authorization To $150 Million
Forrester Research Inc announced that its board of directors has authorized an increase to its regular quarterly cash dividend to $0.15 per share. The next quarterly dividend is payable on March 20, 2013, to shareholders of record on March 6, 2013. The Company also announced that its board of directors authorized a $50 million increase in the Company's stock repurchase program, bringing the total available share repurchase authorization to approximately $150 million. The Company intends to engage an investment banker to assist it in exploring alternative means to accelerate the Company's share repurchase program. As of December 31, 2012, Forrester had approximately 22.3 million shares outstanding. Full Article
Forrester Research Inc Issues Q1, FY 2013 Guidance Below Analysts' Estimates
Forrester Research Inc announced that for the first quarter of 2013, it expects total revenues of approximately $66.0 million to $69.0 million, diluted earnings per share of approximately ($0.02) to $0.02 and pro forma diluted earnings per share of approximately $0.09 to $0.13. Pro forma financial guidance for the first quarter of 2013 excludes stock-based compensation expense of $1.9 million to $2.1 million, amortization of acquisition-related intangible assets of approximately $0.6 million, reorganization costs of $1.5 million to $1.8 million, and any investment gains or losses. For fiscal 2013, the Company expects total revenues of approximately $290.0 million to $298.0 million, diluted earnings per share of approximately $0.52 to $0.59 and pro forma diluted earnings per share (EPS) of approximately $0.79 to $0.86. Pro forma financial guidance for fiscal 2013 excludes stock-based compensation expense of $5.7 million to $6.2 million, amortization of acquisition-related intangible assets of approximately $2.3 million, reorganization costs of $1.5 million to $1.8 million, and any investment gains or losses. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $71.5 million and EPS of $0.20 for the first quarter of 2013; and revenue of $307.1 million and EPS of $1.14 for fiscal 2013. Full Article
Forrester Research Inc Issues Q4, FY 2012 Guidance
Forrester Research, Inc. announced that for the fourth quarter of 2012, it expects total revenues of approximately $72.0 million to $76.0 million and Diluted earnings per share of approximately $0.18 to $0.23. For fiscal 2012, it expects total revenues of approximately $290.0-$300.0 million and GAAP diluted earnings per share (EPS) of approximately $1.10 to $1.15. Full Article
Forrester Research Inc Plans To Repurchase $100 million Of Stock By End Of 2013;
Forrester Research Inc announced that its board of directors has authorized a $50 million increase in the Company’s stock repurchase program. The move brings the total available authorization to $100 million. The shares may be purchased from time to time in open market or privately negotiated transactions. As of September 30, 2012, Forrester had approximately 22,303,000 shares outstanding. The Company also announced that its board of directors has approved a quarterly dividend of $0.14 per share payable December 19, 2012, to shareholders of record on December 5, 2012. Full Article
Forrester Research, Inc. Declares Quarterly Dividend
Forrester Research, Inc. announced that its Board of Directors has approved a quarterly dividend of $0.14 per share payable September 19, 2012, to shareholders of record on September 5, 2012. Full Article
U.S. online retail sales to rise 10 pct a year till 2017-Forrester
March 13 - U.S. online retail sales will grow about 10 percent each year between now and 2017, as more people use mobile devices and top chains build up their infrastructure, Forrester Research said in its annual forecast on Wednesday.
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