ROCKVILLE, Md., May 17, 2011 /PRNewswire/ -- EDGAR® Online,
Inc. (NASDAQ: EDGR), a leading global provider of XBRL
(eXtensible Business Reporting Language) software, services and
data, announced today that the company remains a leader in the XBRL
market as demonstrated by company growth, hiring of executive
officers, creation of new partnerships and product development.
An integral part of this growth is attributed to the
integration with UBmatrix where the company recorded its first
revenues in Q1 2011 from its merger, which created a single source
for software, filing services and data that delivers financial
transparency for issuers, regulators and investors. Additionally,
the election of Robert Farrell as CEO and president of the company
and recently announced record XBRL filing revenues in excess of
$2 million in Q1 2011 demonstrate
numerous advances during the past year.
In the merger with UBmatrix, EDGAR Online not only inherited a
leading suite of XBRL software products, but a global footprint of
software product and implementation partners. These partners have
been instrumental in the successful deployment of XBRL-based
solutions in countries like France, Belgium, Norway, Poland, Italy, Japan,
Canada, the United States and elsewhere. The
number of partners continues to grow and many of them will be
present alongside EDGAR Online at the XBRL International Conference
being held in Brussels, Belgium
this week.
Showing additional momentum around its unique market offerings,
EDGAR Online secured two patents: "A System and Method for
Rendering Financial Data" for populating spreadsheets with
financial data by leveraging XBRL metadata and "System and Method
for Rendering Data," representing a semantic analysis of notes to
financial statements and the association of those notes to related
items in a primary financial statement to secure the company's
intellectual property and technology base.
In the past year, EDGAR Online has released additional data
sets, including Money Markets Holding Dataset and As Reported XBRL
Dataset, aimed at helping companies and mutual funds simplify their
reporting structures for SEC filings. EDGAR Online has also
stepped up to assist the money market community in the XBRL filing
process by partnering with several financial printers and service
providers that prepare the filings for the mutual fund market.
"EDGAR Online leads by example in the XBRL market. We were the
first company to use the Corporate Actions Taxonomy when we
announced our merger with UBmatrix, and we work with many global
regulators including the SEC, which uses our XBRL data sets to
analyze financial information from more than 11 years of historical
reporting," said Robert Farrell, CEO
and president of EDGAR Online. "We plan to continue our
growth in the XBRL filing market, educating the market on how to
leverage this wealth of data, and working with our partners to
drive a smooth adoption of the standard."
About EDGAR Online
EDGAR Online (NASDAQ: EDGR) is a leading global provider of XBRL
data, software and services solutions that improve the flow of
business information. The company's integrated portfolio of
products and services for global enterprises help them create,
deliver, analyze and use quality information. Thousands use the
company's solutions, including 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 the U.S. Securities and Exchange
Commission. The company delivers its solutions, including UBmatrix®
XBRL software solutions, through an extensive network of partners,
including LexisNexis®, NASDAQ OMX, 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 demand for
our XBRL business and future innovations in our data and solutions
and subscriptions business. 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, (x) changes in our business
strategies, (xi) success of our strategic partnership agreements
and (xi) success in integrating the business of UBmatrix, Inc. into
the company.
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.