Selected Consolidated Financial Data

(In thousands, except per share data)

The following table presents selected financial data and should be read in conjunction with the Consolidated Financial Statements and Notes thereto appearing elsewhere herein:

Year Ended December 31,		1992	1993	1994	1995	1996
Consolidated Statement of Income Data:
Revenues:
Core research		$2,626	$4,691	$6,363	$10,150	$18,206
Advisory services and other		2,139	2,608	3,336	4,439	6,757
Total revenues		4,765	7,299	9,699	14,589	24,963
Operating expenses:
Cost of services and fulfillment		1,866	2,406	3,424	5,486	8,762
Selling and marketing		1,645	2,693	3,593	5,643	8,992
General and administrative		599	1,148	1,045	1,389	2,509
Depreciation and amortization		69	105	150	287	618
Total operating expenses		4,179	6,352	8,212	12,805	20,881
Income from operations		586	947	1,487	1,784	4,082
Interest income, net		68	79	125	340	634
Income before income tax provision		654	1,026	1,612	2,124	4,716
Income tax provision		-	46	73	97	712
Net income		654	980	1,539	2,027	4,004
Pro forma income tax adjustment		262	365	583	739	1,198
Pro forma net income		392	615	956	1,288	2,806
Pro forma net income per common share		$00.06	$00.10	$00.15	$000.20	$000.43
Weighted average common shares outstanding		6,293,449	6,293,449	6,293,449	6,293,449	6,556,255
Consolidated Balance Sheet Data:
Cash, cash equivalents and marketable securities		$2,354	$3,111	$4,764	$07,518	$44,640
Working capital		$0,409	$0,901	$0,528	$00,991	$31,291
Total assets		$4,964	$6,367	$8,784	$15,426	$56,782
Stockholders' equity		$0,696	$1,331	$1,120	$02,047	$33,762