EDGAR Online Completes Another Quarter of XBRL Conversions
December 15 2008 - 1:29PM
PR Newswire (US)
Market Leader In XBRL Conversions, Data and Tools NEW YORK, Dec. 15
/PRNewswire-FirstCall/ -- EDGAR(R) Online, Inc. (NASDAQ: EDGR)
announced today it has completed another round of XBRL conversions
of third quarter 2008 financial statements of U.S. public companies
reinforcing its leadership position in the XBRL market. EDGAR
Online provides three solutions for the people that work with XBRL:
conversion of financial statements into XBRL for companies filing
XBRL-tagged statements to the SEC; web and data feed products with
access to the largest and only commercially available database of
XBRL data for all U.S. filing companies; and software tools for
viewing and analyzing XBRL. "EDGAR Online has been actively
converting the financial statements of hundreds of companies who
are preparing for the SEC's anticipated mandate of XBRL," said
Philip Moyer, CEO of EDGAR Online. "The Voluntary Filing Program
participants are just the tip of the iceberg -- the ones you can
see on the SEC's site. Our I-Metrix Xcelerate platform provides a
low-cost, high-fidelity solution to create XBRL. Companies trust
our results and by working with us and our partners now, they will
be fully educated and prepared for XBRL compliance in 2009 and
beyond." EDGAR Online also uses its I-Metrix platform to
continually build the largest U.S. equities XBRL dataset -
continuously converting the 8-K, 10-Q and 10-K filings of all U.S.
public companies into XBRL. This database now contains over 10
years of history in XBRL format with an unprecedented amount of
depth and detail. It is used by some of the most sophisticated
financial analysts, auditors, and corporate executives in the
market. "This quarter we added an additional 36 million data points
to our database -- again expanding the only historical XBRL dataset
in the market -- it is really a benchmark for transparency and
information in the U.S. equities market," added Moyer. EDGAR
Online's I-Metrix Professional product continues to expand its user
base and is one of the most widely used XBRL analysis tools in the
market. "With the pending mandate of XBRL, people will need tools
to be able to leverage this new reporting format. Our I-Metrix
Professional products range from a complete web and Excel based
analytical solution to components that can be embedded into
portals, platforms and partner tools to open, view and analyze all
of the XBRL data being produced today," said Moyer. About EDGAR
Online, Inc. EDGAR Online, Inc. (NASDAQ:EDGR) is a leader in the
distribution of company data and public filings for equities,
mutual funds and a variety of other publicly traded assets. We
deliver our information products directly to end users via online
subscriptions and data licenses, and to redistributors who embed
our content in their own and their clients' Web sites. Our
proprietary automated systems allow for the rapid conversion of
data and we are a pioneer and leader in the global financial
reporting standard eXtensible Business Reporting Language,
otherwise known as XBRL. We use our automated processing platform
and our expertise in XBRL to produce both datasets and tools and to
assist organizations with the creation, management and distribution
of XBRL financial reports. For more detailed information on all of
our businesses or to contact us please visit our Web site at
http://www.edgar-online.com/. Use of Forward-Looking Statements
This press release may contain "forward-looking statements" as
defined in the U.S. Private Securities Litigation Reform Act of
1995. Readers are cautioned not to place undue reliance on these
forward-looking statements and any such forward-looking statements
are qualified in their entirety by reference to the following
cautionary statements. All forward-looking statements speak only as
of the date of this press release and are based on current
expectations and involve a number of assumptions, risks and
uncertainties that could cause the actual results to differ
materially from such forward-looking statements. Readers are
strongly encouraged to read the full cautionary statements
contained in EDGAR Online's filings with the SEC. EDGAR Online
disclaims any obligation to update or revise any forward-looking
statements. EDGAR(R) is a federally registered trademark of the
U.S. Securities and Exchange Commission. EDGAR Online is not
affiliated with or approved by the U.S. Securities and Exchange
Commission. DATASOURCE: EDGAR Online, Inc. CONTACT: T. David
Colgren of Colcomgroup, Inc., +1-917-587-3708, Web Site:
http://www.edgar-online.com/
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