Information Services Group, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the quarter, the company reported operating loss of $4,204,000, loss before taxes of $5,383,000, net loss of $3,597,000 or $0.11 diluted per share, adjusted EBITDA of $4,855,000 on revenues of $32,462,000 against operating income of $3,804,000, income before taxes of $2,536,000, net income of $1,457,000 or $0.05 diluted per share, adjusted EBITDA of $6,415,000 on revenues of $41,123,000 for the same period a year ago. For the nine months, the company reported operating loss of $775,000, loss before taxes of $4,312,000, net loss of $2,958,000 or $0.09 diluted per share, adjusted EBITDA of $13,034,000 on revenues of $98,279,000 against operating income of $13,268,000, income before taxes of $9,474,000, net income of $5,544,000 or $0.18 diluted per share, adjusted EBITDA of $21,466,000 on revenues of $137,370,000 for the same period a year ago. The company also reported impairment of intangible assets of $6,800,000 for the third quarter ended September 30, 2009.

Michael P. Connors, Chairman and CEO of Information Services Group, Inc. (ISG) said, “ISG remains focused on cost productivity, investing in new products and services, expanding our global presence, retaining and recruiting the best professional advisors in the industry and pursuing acquisitions to expand capabilities and scale. Although growth in the overall sourcing market remains challenging in 2009, ISG's third quarter revenues were essentially flat to the second quarter 2009 on a constant currency basis. We experienced year-on-year growth in the automotive and financial service sectors for the first time since 2007 as well as strong demand from companies in the retail and restaurant verticals. We also continued to expand our post contract governance services business and signed our first major contract in China. As world economic activity stabilizes and corporate confidence returns, we believe ISG is well positioned to support our clients' efforts to lower their costs and drive business improvements.”

Information Services Group, Inc., Q3 2009 Earnings Call, Nov-05 2009