NEW YORK Feb. 1, 2011
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
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.