Financial results reflect significant growth in full-year 2011, posts record revenues
EDGAR® Online Inc., a premier provider of fundamental financial data, analytics and disclosure management services, today 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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