Atlanta, GA (PRWEB) March 03, 2012
MissionIR would like to highlight EDGAR® Online, a publicly traded company providing financial data, analytics, and disclosure management solutions to help corporations and institutional investors facilitate compliance and management of regulatory disclosure filings. In addition to developing a variety of unique as-reported and normalized data sets, EDGAR Online is an industry leader in XBRL (eXtensible Business Reporting Language) processing. 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 Business Wire, LexisNexis®, NASDAQ OMX, Oracle, PR Newswire, RR Donnelley and SAP.
In the company’s news yesterday,
EDGAR® Online, Inc., announced its unaudited financial results for the fourth quarter and full-year ended December 31, 2011.
Total revenues were $7.6 million for the fourth quarter ended December 31, 2011, compared to $4.9 million for the comparable quarter of 2010; fourth-quarter adjusted EBITDA was $0.8 million compared to a net loss of $(1.3 million) for the quarter ended December 31, 2010. For full-year 2011, EDGAR reported total revenues of $27.8 million compared to $19.5 million for 2010; adjusted EBITDA was ($3.6 million) for the year ended December 31, 2011, compared to ($1.9 million) for full-year 2010.
EDGAR reported an operating loss was of ($0.6 million) for the fourth quarter of 2011 compared to a loss of ($3.1 million) for the same quarter last year. Full-year 2011 operating loss was ($9.6 million) as compared to a loss of ($6.9 million) for the year ended December 31, 2010.
The company reported deferred revenue of $4.0 million at December 31, 2011, compared to $4.5 million reported at December 31, 2010.
As of December 31, 2011, EDGAR had cash, cash equivalents and short-term investments totaling $5.6 million compared to $11 million at December 31, 2010. At December 31, 2011, the company had term loan outstanding of $1.7 million and a $3.0 million revolving credit facility.
The company’s full-year performance reflects its implementation and execution of initiatives designed to promote growth.
“I am pleased to report that EDGAR Online experienced tremendous growth in 2011,” Robert J. Farrell, EDGAR’s president and CEO stated in the press release. “In addition to generating record revenues for the year, we implemented the infrastructure and added the human talent necessary to support future growth and product evolution. The value propositions embodied in our data & analytics products, disclosure management solutions, and software businesses position EDGAR Online to expand and gain market share. In 2012 we will leverage our industry recognized expertise in XBRL and disclosure management to deliver innovative solutions to professionals who both produce and consume financial information, with a particular focus on the areas of governance, risk and compliance.”
EDGAR anticipates annual revenue growth of more than 35 percent in 2012 as compared to 2011 revenue.
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This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.