NEW YORK, Feb. 1, 2011 /PRNewswire/ -- EDGAR® Online, Inc.
(Nasdaq: EDGR) a leading global provider of XBRL (eXtensible
Business Reporting Language) solutions was awarded U.S. Patent
7,877,678 entitled "A System and Method for Rendering Financial
Data" on January 25, 2011. The patent covers a method for
populating spreadsheets with financial data by leveraging XBRL
metadata. The technology cited in the patent facilitates the
rendering of machine-readable XBRL documents into spreadsheets for
review and analysis.
The patent recognizes and protects EDGAR Online's method of
rendering XBRL data used across the company's portfolio of
products. The method is central to I-Metrix® Professional, a suite
of interactive data and analytical tools offered by EDGAR Online
that provides quick and accurate financial statement data via
Microsoft Excel®. Investment professionals and others in the
financial industry use I-Metrix Professional for the analysis of
documents filed with the U.S. Securities and Exchange Commission
(SEC).
The Company's proprietary method protected by the patent is also
integral to the company's I-Metrix Xcelerate offering and its XBRL
filings business. I-Metrix Xcelerate facilities the interaction
with external reporting managers by rendering XBRL documents into
spreadsheets that can easily be reviewed. Working with several
strategic partners, EDGAR Online is one of the leading preparers of
XBRL documents submitted to the SEC, having created more than 1,200
filings for more than 350 companies.
"We are excited about the issuance of this patent," stated
Stefan Chopin, Chief Technology Officer of EDGAR Online and lead
inventor of the patent. "We believe that this patent solidifies
EDGAR Online's position as a leader in developing products that
leverage XBRL to bring benefits to filers and analysts."
This patent extends EDGAR Online's patent portfolio that also
includes the XBRL patent, U.S. Patent 6,947,947, issued in 2005 to
UBmatrix, Inc. entitled "Method for Adding Metadata to Data" and
several other pending applications.
About EDGAR Online
EDGAR Online (Nasdaq: EDGR) is a leading global provider of XBRL
(eXtensible Business Reporting Language) solutions that improve the
flow of business information. The company delivers solutions
through its integrated portfolio of filing creation services, data
and analysis products and software. Clients include thousands of
U.S. public companies, mutual funds, leading financial analysts and
institutional investors as well as global regulators such as the
FDIC, Banque de France, and Keane
Federal Systems under contract to the U.S. Securities and Exchange
Commission. Software solutions for global enterprises and
regulators are developed by UBmatrix, Inc., a wholly owned
subsidiary. The company delivers its services through an extensive
network of OEM and implementation partners including Oracle, PR
Newswire, RR Donnelley, and SAP. To learn more about EDGAR Online,
visit www.edgar-online.com.
Use of Forward-Looking Statements
"Forward-looking statements" as defined in the Private
Securities Litigation Reform Act of 1995 may be included in this
news release. These statements relate to future events and/or our
future financial performance and include, without limitation,
statements regarding our future growth prospects, future uses of
our intellectual property, future demand for our XBRL business, and
future innovations in our data and subscriptions businesses.
These statements are only predictions and may differ
materially from actual future events or results. EDGAR Online, Inc.
disclaims any intention or obligation to revise any forward-looking
statements whether as a result of new information, future
developments or otherwise. Please refer to the documents filed by
EDGAR Online, Inc. with the Securities and Exchange Commission,
which identify important risk factors that could cause actual
results to differ from those contained in forward-looking
statements, including, but not limited to risks associated with our
ability to (i) increase revenues, (ii) obtain profitability, (iii)
obtain additional financing, (iv) changes in general economic and
business conditions (including in the online business and financial
information industry), (v) actions of our competitors, (vi) the
extent to which we are able to develop new services and markets for
our services, (vii) the time and expense involved in such
development activities, (viii) risks in connection with
acquisitions, (ix) the level of demand and market acceptance of our
services, and (x) changes in our business strategies.
EDGAR® 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.
SOURCE EDGAR Online, Inc.