This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Innodata Reports Fourth Quarter And Fiscal Year 2011 Results

This release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words “project,” “head start,” "believe," "expect," “should,” "anticipate," "indicate," "point to," “forecast,” “likely”, “optimistic” and other similar expressions generally identify forward-looking statements, which speak only as of their dates.

These forward-looking statements are based largely on our current expectations, and are subject to a number of risks and uncertainties, including without limitation, that our Innodata Advanced Data Solutions segment has not reported any revenues to date and is subject to the risks and uncertainties of early-stage companies; the primarily at-will nature of the contracts between our Content Services segment and its customers and the ability of customers to reduce, delay or cancel projects; continuing Content Services revenue concentration in a limited number of customers; continuing Content Services reliance on project-based work; inability to replace projects that are completed, cancelled or reduced; depressed market conditions; changes in external market factors; the ability and willingness of our customers and prospective customers to execute business plans which give rise to requirements for digital content and professional services in knowledge processing; difficulty in integrating and deriving synergies from acquisitions, joint venture and strategic investments; potential undiscovered liabilities of companies that we acquire; changes in our business or growth strategy; the emergence of new or growing competitors; various other competitive and technological factors; and other risks and uncertainties indicated from time to time in our filings with the Securities and Exchange Commission.

Actual results could differ materially from the results referred to in the forward-looking statements. In light of these risks and uncertainties, there can be no assurance that the results referred to in the forward-looking statements contained in this release will occur.

INNODATA ISOGEN, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

(In thousands, except per-share amounts)

 

 

    Three Months Ended   Twelve Months Ended
December 31, December 31,
2011   2010 2011   2010
 
Revenues $ 23,739   $ 14,890   $ 73,942   $ 61,513  
 
Operating costs and expenses:
Direct operating expenses 15,302 11,633 50,176 47,284
Selling and administrative expenses 6,319 3,736 19,082 15,659
Interest income, net   (133 )   (131 )   (587 )   (215 )
 
Total   21,488     15,238     68,671     62,728  
Income (loss) before provision for income taxes 2,251 (348 ) 5,271 (1,215 )
Provision for (benefit from) income taxes   298     (1,566 )   1,361     (468 )
Net income (loss)   1,953     1,218     3,910     (747 )
Loss attributable to non-controlling interests   320     -     561     -  
Net income (loss) attributable to Innodata Isogen, Inc. and Subsidiaries $ 2,273   $ 1,218   $ 4,471   $ (747 )
Income (loss) per share attributable to Innodata Isogen, Inc. and Subsidiaries:
Basic and diluted $ 0.09   $ 0.05   $ 0.18   $ (0.03 )
Weighted average shares outstanding:
Basic   24,691     25,244     24,916     25,360  
Diluted   25,193     25,578     25,103     25,360  
 

INNODATA ISOGEN, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(Dollars in thousands)

 
    December 31,
2011   2010
ASSETS
Current assets:
Cash and cash equivalents $ 11,389 $ 14,120
Short term investments - other 5,828 8,875
Accounts receivable, net 21,706 8,389
Prepaid expenses and other current assets 2,984 3,842
Deferred income taxes   1,934     1,581
Total current assets 43,841 36,807
Property and equipment, net 7,430 4,284
Other assets 3,565 2,684
Long term investment - other - 5,000
Deferred income taxes 3,886 2,797
Goodwill   675     675
Total assets $ 59,397   $ 52,247
LIABILITIES AND STOCKHOLDERS' EQUITY
 
Current liabilities:
Accounts payable and accrued expenses $ 5,873 $ 3,047
Accrued salaries, wages and related benefits 6,596 4,870
Income and other taxes 2,576 1,852
Current portion of long term obligations 639 458
Deferred income taxes   9     492
Total current liabilities 15,693 10,719
Deferred income taxes 153 137
Income and other taxes - long term - 349
Long term obligations 2,944 1,604
Non-controlling interests   (561 )   -
STOCKHOLDERS' EQUITY   41,168     39,438

Total liabilities and stockholders’ equity

$

59,397

 

$

52,247

 




Stock quotes in this article: INOD 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 +2.54 0.14%
NASDAQ 4,095.5160 +9.2910 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs