ROCKVILLE, Md., Oct. 11, 2011 /PRNewswire/ -- EDGAR® Online,
Inc. (Nasdaq: EDGR), a leading global provider of XBRL
(eXtensible Business Reporting Language) software, services and
data, today announced that it experienced a 280 percent
year-over-year increase in XBRL filings in the third quarter. This
milestone represents close to 700 companies whose disclosures were
handled by EDGAR Online during the period, and includes an
impressive list of leading publicly traded firms across multiple
sectors and industries. The increase demonstrates the highest
number of filings to date for EDGAR Online, and comes in an
increasingly competitive landscape with more vendors than ever
claiming expertise in disclosure management products and
services.
In the past two years, EDGAR Online has grown its overall XBRL
filings by 362 percent. The uptick in activity reflects not only
the shifting expectations from the SEC, but also the awareness
among financial officers and SEC reporting managers that proper
compliance with the SEC's filing mandates requires a high level of
expertise in managing the ever expanding XBRL taxonomy. While the
market has grown from just over 400 filings per quarter in 2009 to
nearly 7,000 per quarter today, the number of companies offering
XBRL solutions has tripled. The sustained growth in filings
processed by EDGAR Online highlights its continued leadership in
assisting public companies that are authoring and disclosing their
documents in XBRL.
"It is clear that companies making XBRL filings are seeking a
combination of technology, consultation and expertise to help them
remain compliant and seamlessly author their filings," said EDGAR
Online president and CEO Robert J.
Farrell. "Even as more vendors move into the marketplace to
take advantage of the regulatory environment, our customers
continue to recognize and recommend EDGAR Online as the most
knowledgeable and trusted provider of XBRL disclosure
solutions."
EDGAR Online partners with leading financial publishers
including RR Donnelly, PR Newswire, BusinessWire and Merrill
Corporation to provide disclosure management services to their SEC
filing customers. In addition to providing an initial level of
compliance, the company's product offerings also include I-Metrix,
a comprehensive analytics platform for financial professionals that
allows them to perform risk analysis on both internal and external
factors online and within a spreadsheet environment.
Enterprise risk management currently being done by I-Metrix
clients includes competitive landscape analysis, supply chain risk
analysis, internal control analysis, institutional shareholder and
board of directors analysis.
About EDGAR® Online, Inc.
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
This press release may contain forward-looking statements.
These statements relate to future events or to future
financial performance and may include, without limitation,
statements regarding our future growth prospects, future demand for
our XBRL products/services and future innovations in our data and
solutions and subscriptions businesses. These forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause our actual results, levels of activity,
performance, or achievements to be materially different from any
future results, levels of activity, performance, or achievements
expressed or implied by these forward-looking statements. In some
cases, you can identify forward-looking statements by the use of
words such as "may," "could," "expect," "intend," "plan," "seek,"
"anticipate," "believe," "estimate," "predict," "potential," or
"continue" or the negative of these terms or other comparable
terminology. You should not place undue reliance on
forward-looking statements because they involve known and unknown
risks, uncertainties and other factors that are, in some cases,
beyond our control and that could materially affect actual results,
levels of activity, performance, or our growth strategy. For
further information about the factors that could affect EDGAR
Online's future results, please refer to our filings with the
Securities and Exchange Commission. We assume no obligation
to publicly update or revise these forward-looking statements for
any reason, whether as a result of new information, future events,
or otherwise.
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.