- \n
- \nReports first-quarter GAAP revenues of $61.2 million, up 3% versus prior year, at the top end of guidance<\/p>\n<\/li>\n
- \nReports first-quarter GAAP net income of $2.7 million, up 83%; GAAP EPS of $0.05, up 83%, and adjusted EPS of $0.09, up 17%<\/p>\n<\/li>\n
- \nReports first-quarter adjusted EBITDA of $8.3 million, up 12% versus prior year<\/p>\n<\/li>\n
- \nSigns historic multiyear contract valued at up to $17 million to support AI-powered reinvention for top global manufacturer<\/p>\n<\/li>\n
- \nDeclares second-quarter dividend of $0.045 per share, payable June 26, 2026, to shareholders of record as of June 5, 2026<\/p>\n<\/li>\n
- \nSets second-quarter guidance: revenues between $62.5 million and $63.5 million and adjusted EBITDA between $8.0 million and $9.0 million<\/p>\n<\/li>\n<\/ul>\n
STAMFORD, Conn.–(BUSINESS WIRE<\/a>)–
\nInformation Services Group (ISG<\/a>) (Nasdaq: III<\/a>), a global AI-centered technology research and advisory firm, today announced financial results for the first quarter ended March 31, 2026.<\/p>\n\n\u201cISG delivered a strong first quarter, with revenue of $61.2 million, up 3 percent, and adjusted EBITDA of $8.3 million, up 12 percent\u2014both at the top end of guidance\u2014with adjusted EBITDA margins expanding more than 100 basis points from the prior year, to 13.5 percent,\u201d said Michael P. Connors, chairman and CEO. \u201cRevenue growth was driven primarily by Europe, up 25 percent, and recurring revenues, up 9 percent, as AI continues to be a tailwind for our firm.<\/p>\n
\n\u201cAdding to our recurring revenue acceleration, we signed the largest single client contract in our history\u2014a multiyear agreement valued at up to $17 million to provide governance services for a top global manufacturer,\u201d Connors said. \u201cUnder this landmark contract, ISG will manage $300 million in global technology spend with 200 technology vendors to support a large-scale, multiyear AI-powered transformation.<\/p>\n
\n\u201cThis contract and our growing profitability reflect our unique strengths as an AI-centered research and advisory powerhouse that engages strategically with clients, provides deeper insights to shape client solutions and decisions, and, importantly, delivers unmatched execution and AI governance at scale.\u201d<\/p>\n
First-Quarter 2026 Results<\/b><\/p>\n
\nReported revenues for the first quarter were $61.2 million, up 3 percent from $59.6 million in the prior year.<\/p>\n
\nRevenues were $39.8 million in the Americas, down 3 percent on a reported basis. Revenues in Europe were $17.3 million, up 25 percent on a reported basis, and Asia Pacific revenues were $4.1 million, down 15 percent on a reported basis, all versus the prior year.<\/p>\n
\nISG reported first-quarter operating income of $5.0 million, compared with operating income of $3.4 million in the prior year. Reported first-quarter net income was $2.7 million, compared with net income of $1.5 million in the prior year. Fully diluted earnings per share were $0.05, compared with fully diluted earnings per share of $0.03 in the prior year.<\/p>\n
\nAdjusted net income (a non-GAAP measure defined below under \u201cNon-GAAP Financial Measures\u201d) for the first quarter was $4.3 million, or $0.09 per share on a fully diluted basis, compared with adjusted net income of $3.7 million, or $0.07 per share on a fully diluted basis, in the prior year\u2019s first quarter.<\/p>\n
\nFirst-quarter adjusted EBITDA (a non-GAAP measure defined below under \u201cNon-GAAP Financial Measures\u201d) was $8.3 million, up 12 percent from the prior-year first quarter. Adjusted EBITDA margin (a non-GAAP measure calculated by dividing adjusted EBITDA by reported revenues) was 13.5 percent, compared with 12.4 percent in the prior year.<\/p>\n
Other Financial and Operating Highlights<\/b><\/p>\n
\nISG used cash from operations of $0.7 million in the first quarter. The firm\u2019s cash balance totaled $22.7 million at March 31, 2026, up from $20.1 million at March 31, 2025, but down from $28.7 million at December 31, 2025. During the first quarter, ISG paid dividends of $2.2 million and repurchased $2.1 million of shares.<\/p>\n
2026 Second-Quarter Revenue and Adjusted EBITDA Guidance<\/b><\/p>\n
\n\u201cClients remain somewhat cautious in the face of current macro and geopolitical conditions and as a result are focusing on cost optimization and preparing for enterprise-scale adoption of AI, which play to ISG strengths,\u201d said Connors. \u201cWe see current demand trends continuing. ISG is targeting revenues between $62.5 million and $63.5 million and adjusted EBITDA of between $8.0 million and $9.0 million, which will continue our year-over-year growth. We will monitor the macroeconomic environment, including the impact of FX, inflation and other factors, and adjust our business plans accordingly.\u201d<\/p>\n
Quarterly Dividend<\/b><\/p>\n
\nThe ISG Board of Directors declared a second-quarter dividend of $0.045 per share, payable on June 26, 2026, to shareholders of record as of June 5, 2026.<\/p>\n
Conference Call<\/b><\/p>\n
\nISG has scheduled a call for 9 a.m., U.S. Eastern Time, May 8, 2026, to discuss the company\u2019s first-quarter results. The call can be accessed by dialing +1 (800) 715-9871<\/b>; or, for international callers, by dialing +1 (646) 307-1963<\/b>. The access code is 6855650<\/b>. A recording of the conference call will be accessible on ISG\u2019s investor relations page<\/a> for approximately four weeks following the call.<\/p>\n
Forward-Looking Statements<\/b><\/p>\n
\nThis communication contains \u201cforward-looking statements\u201d which represent the current expectations and beliefs of management of ISG concerning future events and their potential effects. Statements contained herein including words such as \u201canticipate,\u201d \u201cbelieve,\u201d \u201ccontemplate,\u201d \u201cplan,\u201d \u201cestimate,\u201d \u201ctarget,\u201d \u201cexpect,\u201d \u201cintend,\u201d \u201cwill,\u201d \u201ccontinue,\u201d \u201cshould,\u201d \u201cmay,\u201d and other similar expressions, are \u201cforward-looking statements\u201d under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not guarantees of future results and are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated. Those risks relate to inherent business, economic and competitive uncertainties and contingencies relating to the businesses of ISG and its subsidiaries including without limitation: (1) failure to secure new engagements or loss of important clients; (2) ability to hire and retain enough qualified employees to support operations; (3) ability to maintain or increase billing and utilization rates; (4) management of growth; (5) success of expansion internationally; (6) competition; (7) ability to move the product mix into higher margin businesses; (8) general political and social conditions such as war, political unrest and terrorism; (9) healthcare and benefit cost management; (10) ability to protect ISG and its subsidiaries\u2019 intellectual property or data and the intellectual property or data of others; (11) currency fluctuations and exchange rate adjustments; (12) ability to successfully consummate or integrate strategic acquisitions; (13) outbreaks of diseases, including coronavirus, or similar public health threats or fear of such an event; (14) clients\u2019 termination, delay, or reduction in scope of engagements; (15) the effect of the divestiture of the automation unit on ISG\u2019s relationships with its customers and suppliers and on its retained business generally; (16) the success of ISG\u2019s focus on AI advisory and AI-powered platforms; (17) changes to trade policy, including new or increased tariffs and changing import\/export regulations, and (18) potential employment-related claims. Certain of these and other applicable risks, cautionary statements and factors that could cause actual results to differ from ISG\u2019s forward-looking statements are included in ISG\u2019s filings with the U.S. Securities and Exchange Commission. ISG undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances.<\/p>\n
Non-GAAP Financial Measures<\/b><\/p>\n
\nISG reports all financial information required in accordance with U.S. generally accepted accounting principles (GAAP). In this release, ISG has presented both GAAP financial results as well as non-GAAP information for the three months ended March 31, 2026, and March 31, 2025. ISG believes that evaluating its ongoing operating results will be enhanced if it discloses certain non-GAAP information. These non-GAAP financial measures exclude non-cash and certain other special charges that many investors believe may obscure the user\u2019s overall understanding of ISG\u2019s current financial performance and ISG\u2019s prospects for the future. ISG believes that these non-GAAP measures provide useful information to investors because they improve the comparability of the financial results between periods and provide for greater transparency of key measures used to evaluate the Company\u2019s performance.<\/p>\n
\nISG provides adjusted EBITDA (defined as net income, plus interest, taxes, depreciation and amortization, foreign currency transaction gains\/losses, non-cash stock compensation, interest accretion associated with contingent consideration, acquisition- and disposition-related costs, gain on disposal of assets, and severance, integration and other expense), adjusted net income (defined as net income, plus amortization of intangible assets, non-cash stock compensation, foreign currency transaction gains\/losses, interest accretion associated with contingent consideration, acquisition- and disposition-related costs, gain on disposal of assets, and severance, integration and other expense on a tax-adjusted basis), and adjusted net income per diluted share, excluding the net tax effect of certain financial data, which are non-GAAP measures that ISG believes provide useful information to both management and investors by excluding certain expenses and financial implications of foreign currency translations, which management believes are not indicative of ISG\u2019s core operations. These non-GAAP measures are used by ISG to evaluate the Company\u2019s business strategies and management\u2019s performance.<\/p>\n
\nWe evaluate our results of operations on both an as reported and a constant currency basis. The constant currency presentation, which is a non-GAAP financial measure, excludes the impact of year-over-year fluctuations in foreign currency exchange rates. We believe providing constant currency information provides valuable supplemental information regarding our results of operations, thereby facilitating period-to-period comparisons of our business performance and is consistent with how management evaluates the Company\u2019s performance. We calculate constant currency percentages by converting our current and prior-periods local currency financial results using the same point in time exchange rates and then compare the adjusted current and prior period results. This calculation may differ from similarly titled measures used by others and, accordingly, the constant currency presentation is not meant to be a substitution for recorded amounts presented in conformity with GAAP, nor should such amounts be considered in isolation.<\/p>\n
\nManagement believes this information facilitates comparison of underlying results over time. Non-GAAP financial measures, when presented, are reconciled to the most closely applicable GAAP measure. Non-GAAP measures are provided as additional information and should not be considered in isolation or as a substitute for results prepared in accordance with GAAP. A reconciliation of the forward-looking non-GAAP estimates contained herein to the corresponding GAAP measures is not being provided, due to the unreasonable efforts required to prepare it.<\/p>\n
About ISG<\/b><\/p>\n
ISG<\/a> (Nasdaq: III<\/a>) is a global AI-centered technology research and advisory firm. A trusted partner to more than 900 clients, including 75 of the world\u2019s top 100 enterprises, ISG is a long-time leader in technology and business services that is now at the forefront of leveraging AI to help organizations achieve operational excellence and faster growth. The firm, founded in 2006, is known for its proprietary market data and research, in-depth knowledge and governance of provider ecosystems, and the expertise of its 1,500 professionals worldwide working together to help clients maximize the value of their technology investments.<\/p>\n
\n
\n \u00a0<\/td>\n<\/tr>\n \n Information Services Group, Inc.<\/b><\/td>\n<\/tr>\n \n Condensed Consolidated Statement of Income and Comprehensive Income<\/b><\/td>\n<\/tr>\n \n (unaudited)<\/b><\/td>\n<\/tr>\n \n (in thousands, except per share amounts)<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n Three Months Ended March 31,<\/b><\/p>\n<\/td>\n
<\/tr>\n \n \n \n \n 2026<\/b><\/p>\n<\/td>\n
\n \n 2025<\/b><\/p>\n<\/td>\n
<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Revenues<\/b><\/td>\n \n $<\/td>\n \n \n61,183<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $<\/td>\n \n \n59,583<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Operating expenses<\/b><\/td>\n \n \n \n \n \n \n <\/tr>\n \n Direct costs and expenses for advisors<\/td>\n \n \n \n \n34,803<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n33,927<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Selling, general and administrative<\/td>\n \n \n \n \n20,317<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n21,155<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Depreciation and amortization<\/td>\n \n \n \n \n1,046<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n1,105<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Operating income<\/b><\/td>\n \n \n \n \n5,017<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n3,396<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Interest income<\/td>\n \n \n \n \n32<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n55<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Interest expense<\/td>\n \n \n \n \n(878<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n \n(1,056<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
<\/tr>\n \n Foreign currency transaction gain<\/td>\n \n \n \n \n152<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n3<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Income before taxes<\/b><\/td>\n \n \n \n \n4,323<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n2,398<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Income tax provision<\/td>\n \n \n \n \n1,607<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n910<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Net income<\/b><\/td>\n \n $<\/td>\n \n \n2,716<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $<\/td>\n \n \n1,488<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Weighted average shares outstanding:<\/b><\/td>\n \n \n \n \n \n \n <\/tr>\n \n Basic<\/td>\n \n \n \n \n47,746<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n48,369<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Diluted<\/td>\n \n \n \n \n50,175<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n50,252<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Earnings per share:<\/b><\/td>\n \n \n \n \n \n \n <\/tr>\n \n Basic<\/td>\n \n $<\/td>\n \n \n0.06<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $<\/td>\n \n \n0.03<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Diluted<\/td>\n \n $<\/td>\n \n \n0.05<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $<\/td>\n \n \n0.03<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n \n
\n \n Information Services Group, Inc.<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n Reconciliation from GAAP to Non-GAAP<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n (unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n (in thousands, except per share amounts)<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n Three Months Ended March 31,<\/b><\/p>\n<\/td>\n
<\/tr>\n \n \n \n \n 2026<\/b><\/p>\n<\/td>\n
\n \n 2025<\/b><\/p>\n<\/td>\n
<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Net income<\/b><\/td>\n \n $<\/td>\n \n \n2,716<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $<\/td>\n \n \n1,488<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Plus:<\/td>\n \n \n \n \n \n \n <\/tr>\n \n Interest expense (net of interest income)<\/td>\n \n \n \n \n846<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n1,001<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Income tax provision<\/td>\n \n \n \n \n1,607<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n910<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Depreciation and amortization<\/td>\n \n \n \n \n1,046<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n1,105<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Gain on assets disposal<\/td>\n \n \n \n \n(47<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Interest accretion associated with contingent consideration<\/td>\n \n \n \n5<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n12<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Acquisition and disposition-related costs (1)<\/td>\n \n \n \n \n72<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n80<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Severance, integration and other expense<\/td>\n \n \n \n \n425<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n383<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Foreign currency transaction gain<\/td>\n \n \n \n \n(152<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n \n(3<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
<\/tr>\n \n Non-cash stock compensation<\/td>\n \n \n \n \n1,754<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n2,420<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Adjusted EBITDA<\/b><\/td>\n \n $<\/td>\n \n \n8,272<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $<\/td>\n \n \n7,396<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Net income<\/b><\/td>\n \n $<\/td>\n \n \n2,716<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $<\/td>\n \n \n1,488<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Plus:<\/td>\n \n \n \n \n \n \n <\/tr>\n \n Non-cash stock compensation<\/td>\n \n \n \n \n1,754<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n2,420<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Intangible amortization<\/td>\n \n \n \n \n235<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n318<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Gain on assets disposal<\/td>\n \n \n \n \n(47<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Interest accretion associated with contingent consideration<\/td>\n \n \n \n5<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n12<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Acquisition and disposition-related costs (1)<\/td>\n \n \n \n \n72<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n80<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Severance, integration and other expense<\/td>\n \n \n \n \n425<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n383<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Foreign currency transaction gain<\/td>\n \n \n \n \n(152<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n \n(3<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
<\/tr>\n \n Tax effect (2)<\/td>\n \n \n \n \n(733<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n \n \n(1,027<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
<\/tr>\n \n Adjusted net income<\/b><\/td>\n \n $<\/td>\n \n \n4,275<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $<\/td>\n \n \n3,671<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Weighted average shares outstanding:<\/b><\/td>\n \n \n \n \n \n \n <\/tr>\n \n Basic<\/td>\n \n \n \n \n47,746<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n48,369<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Diluted<\/td>\n \n \n \n \n50,175<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n \n \n50,252<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Adjusted earnings per share:<\/b><\/td>\n \n \n \n \n \n \n <\/tr>\n \n Basic<\/td>\n \n $<\/td>\n \n \n0.09<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $<\/td>\n \n \n0.08<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n Diluted<\/td>\n \n $<\/td>\n \n \n0.09<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $<\/td>\n \n \n0.07<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
<\/tr>\n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n (1) <\/sup>Consists of expenses from acquisition and disposition-related costs and non-cash fair value adjustments on pre-acquisition contract liabilities.<\/p>\n<\/td>\n<\/tr>\n
\n \n (2) <\/sup>Marginal tax rate of 32%, reflecting U.S. federal income tax rate of 21% plus 11% attributable to U.S. states and foreign jurisdictions.<\/p>\n<\/td>\n<\/tr>\n
\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n<\/table>\n
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<\/td>\n<\/tr>\n