Q2 ISG earnings up from 2017
IT consulting and research firm Information Services Group saw its earnings rise in the second quarter as it benefited from growing demand for digital services.
Revenues hit $71 million, up 4 percent from a year ago. The company recorded a $2.4 million profit, compared with a $300,000 loss a year ago.
“Our focused investments in the high-growth area of digital services, including automation, and in our recurring-revenue services, are paying off in superior results,” CEO and Chairman Michael Connors said in a statement. “Our revenue mix continues to grow in value, based, in part, on rising demand for our digital services, which represent more than 40 percent of our total revenues, and the high market valuations for automation services we are seeing of late.”
Among recent milestones, ISG opened in May an 18,000-square-foot headquarters at 2187 Atlantic St., in the Harbor Point neighborhood of the city’s South End.
In the recently renovated 2187 Atlantic, ISG has taken the entire eighth floor, where about 25 are based.
The new offices include a tech bar for employees, similar to an Apple store’s Genius Bar, a training center for employees and clients and a space where the company can showcase digital services such as “robotic process automation” involving software bots. RPA technology automates functions such as extracting and sending out overdue invoices, allowing workers to focus on other tasks.
“We wanted to be in a physical space that was vibrant, emerging and growing,” Connors said at an opening ceremony for the new headquarters. “As we measured and considered alternatives, we felt the Harbor Point area met all of our criteria.”
ISG had formerly occupied about 9,000 square feet in the downtown office block at 281 Tresser Blvd., its home since its founding.
Worldwide, ISG employs about 1,300, including about 500 some its Global Operations Center in Bangalore, India. It also maintains offices in Guildford, England; Paris; and Frankfurt.
The company serves some 700 clients in about 20 countries. The list comprises about 20 Connecticut-headquartered companies including Pitney Bowes and Marriott International subsidiary Starwood Hotels and Resorts Worldwide — both based in Stamford — as well as Norwalk-based Xerox and United Technologies.
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