EDGAR Online Demonstrates XBRL Market Leadership

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.