Gartner Q1 revenues down, makes loss

Gartner's announced that revenues in Q1 (ended March 31, 2005) fell to $199.8 million compared to $208.7 million in the Q104.

It’s putting this down to a fall in event income; the company held just five events in Q105 compared to nine in Q104.

Gartner also declared a Q1 net loss of $14.7 million, including pre-tax charges of $3.4 million related to the integration of META and $14.3 million related to a reduction in workforce and restructuring within its international operations.

Research revenue was $125 million, an increase of 2% from the same period of 2004.

Consulting revenue fell to $64 million versus $65 million in the first quarter of 2004.

Events revenue was $8 million for the first quarter of 2005 versus $18 million in the first quarter of 2004.

Gartner’s optimistic for the future though. It is reporting research contract value (at 31 March, 2005) up to $516 million, from $493 million at March 31, 2004. This is the company's highest reported contract value since December 31, 2001. Client retention was 80%, up from 77%.

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