Stamford IT firm ISG sees its revenues increase
STAMFORD — IT consulting and research firm Information Services Group reported Thursday increasing returns for the past quarter and year, as demand continued to grow for digital services.
Fourth-quarter revenues hit $68 million, up 2 percent yearover-year. In the same period, the company recorded a $852,000 loss, compared with a $2.7 million loss in the same period in 2017.
For all of 2018, returns reached about $276 million, up 2 percent year-over-year. Profits amounted to $5.7 million, compared with a loss of $2.1 million in 2017.
Revenues grew in Europe, while results in the U.S. were affected by “sluggishness” in the public sector and the timing of several “client engagements,” ISG officials said.
“2018 was another year of great progress for ISG,” CEO and Chairman Michael Connors said in a statement. “We expect these numbers to increase as more of our work focuses on helping clients transform their businesses for greater efficiency and faster growth.”
Among its 2018 milestones, ISG opened last May an 18,000square-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.
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 at its Global Operations Center in Bangalore, India. It also maintains offices in Guildford, England; Paris; and Frankfurt.
The company serves several hundred 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.