Edgar Online Completes Another Quarter of XBRL Conversions

16 December 2008

EDGAR® Online, Inc. (Nasdaq: EDGR) announced today it has completed another round of XBRL conversions of third quarter 2008 financial statements of U.S. public companies reinforcing its leadership position in the XBRL market.

EDGAR Online provides three solutions for the people that work with XBRL: conversion of financial statements into XBRL for companies filing XBRL-tagged statements to the SEC; web and data feed products with access to the largest and only commercially available database of XBRL data for all U.S. filing companies; and software tools for viewing and analyzing XBRL.

“EDGAR Online has been actively converting the financial statements of hundreds of companies who are preparing for the SEC’s anticipated mandate of XBRL,” said Philip Moyer, CEO of EDGAR Online. “The Voluntary Filing Program participants are just the tip of the iceberg – the ones you can see on the SEC’s site. Our I-Metrix Xcelerate platform provides a low-cost, high-fidelity solution to create XBRL. Companies trust our results and by working with us and our partners now, they will be fully educated and prepared for XBRL compliance in 2009 and beyond.”

EDGAR Online also uses its I-Metrix platform to continually build the largest U.S. equities XBRL dataset – continuously converting the 8-K, 10-Q and 10-K filings of all U.S. public companies into XBRL. This database now contains over 10 years of history in XBRL format with an unprecedented amount of depth and detail. It is used by some of the most sophisticated financial analysts, auditors, and corporate executives in the market. “This quarter we added an additional 36 million data points to our database – again expanding the only historical XBRL dataset in the market – it is really a benchmark for transparency and information in the U.S. equities market,” added Moyer.

EDGAR Online’s I-Metrix Professional product continues to expand its user base and is one of the most widely used XBRL analysis tools in the market. “With the pending mandate of XBRL, people will need tools to be able to leverage this new reporting format. Our I-Metrix Professional products range from a complete web and Excel based analytical solution to components that can be embedded into portals, platforms and partner tools to open, view and analyze all of the XBRL data being produced today,” said Moyer.

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