“We are pleased with our progress this quarter. Our year-over-year and sequential increases in revenue and earnings reflect the success we have had this year at increasing the volume and profitability of the new business we booked. Looking ahead, we expect continued improvement in financial performance, with 2011 third quarter revenues approximating $17.5 million or more,” said Jack Abuhoff, Chairman and CEO of Innodata. “From a strategic perspective, we see the IADS segment as a vehicle for leveraging some of Innodata’s core strengths in digitization, XML services, legal and medical analysis, and content technologies for the benefit of new markets and customers that we have not traditionally served. We believe that the IADS segment will be an important contributor to our three-year growth plan.”Innodata announced on July 12 that the U.S. Commodity Futures Trading Commission (CFTC) had selected Innodata’s new docGenix division to be a member of its recently formed Technology Advisory Subcommittee on Data Standardization. The CFTC has stated that the purpose of the Subcommittee is to develop recommendations regarding a standardized reference data depository representing the universe of legal and financial terms utilized in describing, defining, and valuing the various derivatives and other financial instruments which are presently traded, and in the future may be traded, on and off regulated exchanges.
Innodata Reports Second Quarter 2011 Results
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