gartner inc (IT) Snapshot

Gartner Inc. (NYSE:IT) look for acquisitions to venture into different business sectors. Gene Hall, the Chief Executive Officer of Gartner, in response to a query on whether Gartner intends to grow a particular business sector organically or through acquisitions, stated, “All things being equal, we'd rather buy a company that has it already established. And the reason, it reduces the risk. So for example, we bought AMR 3 years ago which does supply chain research. It would have taken us a long time with much more risk to develop a base of research, the analyst expertise, salespeople that know the product, etc. So, while it's the same process in developing research as in IT, the same processing serving clients, you actually need the subject matter knowledge in supply chain to be successful there. And so, as we enter these other areas, our preference would be to do it by acquisition, but if we can't do it by acquisition then we'll do it organically.”

Gartner Inc. Presents at William Blair & Company 33(rd) Annual Growth Stock Conference, Jun-11-2013 12:10 PM. Venue: Four Seasons Hotel, Chicago, Illinois, United States. Speakers: Brian Shipman, Group Vice President of Investor Relations, Eugene A. Hall, Chief Executive Officer and Director.

Gartner Inc. reported unaudited consolidated earnings results for first quarter ended March 31, 2013. For the quarter, the company reported total revenues of $406,754,000 against $369,171,000 a year ago. Operating income was $54,005,000 against $53,556,000 a year ago. Income before income taxes was $51,780,000 against $50,383,000 a year ago. Net income was $36,675,000 or $0.38 per diluted share against $34,221,000 or $0.36 per diluted share a year ago. Normalized EBITDA was $75,062,000 against $71,185,000 a year ago. Operating cash flow was $19.7 million compared to $18.7 million in the prior year quarter. Additions to property, equipment and leasehold improvements totaled $9.6 million. The company provided earnings guidance for the full year 2013. For the year, the company expects total revenue to be in the range of $1,775 million to $1,820 million, diluted earnings per share to be in the range of $1.96 per share to $2.10 per share and normalized EBITDA to be in the range of $350 million to $370 million. Operating cash flow is expected to be in the range of $296 million to $316 million. Capital Expenditures were expected to be in the range of $37 million to $38 million and free cash flow to be $259 million to $278 million.