EDGAR(R) Online(R) Inc. and RR Donnelley Support Securities and Exchange Commission Proposed Rule for Public Companies Submittin
May 14 2008 - 1:00PM
PR Newswire (US)
NEW YORK, May 14 /PRNewswire-FirstCall/ -- EDGAR Online, Inc.
(NASDAQ:EDGR) and RR Donnelley (NYSE:RRD) announced their support
for the SEC proposed rule made public today that will require SEC
filing companies to submit their financial statements in eXtensible
Business Reporting Language (XBRL) to the SEC EDGAR system. "As an
organization that is keenly aware of the value that XBRL brings to
the capital markets, we applaud the SEC proposed rule to phase in
XBRL-tagged filings over the next three years," said Philip Moyer,
CEO and President of EDGAR Online. "XBRL is no longer a future
technology -- it is here now. XBRL serves as the backbone of our
data and subscription services and we deliver the world's largest
database of XBRL tagged company financials to our clients every
day. Through our XBRL filing solution with RR Donnelley, we are
proud to demonstrate that companies can reliably provide the
transparency that the investing community seeks without spending
hundreds of hours and tens of thousands of dollars deciphering a
new technology standard." RR Donnelley and EDGAR Online have
collaborated to deliver XBRL filing solutions to corporations since
2005. Both companies are members of the XBRL consortium and have a
long history of support for the XBRL standard. RR Donnelley offers
the market-leading solution for XBRL filings that leverages EDGAR
Online's premier XBRL data creation, processing and distribution
solutions. In March, RR Donnelley and EDGAR Online launched
TryXBRL.com, the world's first public web site that allows access
to view and analyze complete XBRL-tagged financial statements for
over 12,000 publicly-traded corporations. TryXBRL.com benefits
anyone interested in learning about XBRL as applied to real-world
financial statements. Corporate finance professionals exploring
filing in XBRL with the SEC can educate themselves about the
process and view their own historical financial information in a
XBRL format. Investors and analysts can experience firsthand how
XBRL reduces the complexity and costs associated with analyzing
performance data. "Now any company interested in learning about or
filing in XBRL has an opportunity to see their past financials
tagged in XBRL and take advantage of a cost effective conversion
and filing service" said Tom Juhase, President of RR Donnelley's
Financial Services group. "Our solution enables companies to begin
filing XBRL content with the SEC in as little as a few hours."
About RR Donnelley RR Donnelley is the world's premier full-service
provider of print and related services, including business process
outsourcing. Founded more than 140 years ago, the company provides
solutions in commercial printing, direct mail, financial printing,
print fulfillment, labels, forms, logistics, call centers,
transactional print-and-mail, print management, online services,
digital photography, color services, and content and database
management to customers in the publishing, healthcare, advertising,
retail, technology, financial services and many other industries.
The largest companies in the world and others rely on RR
Donnelley's scale, scope and insight through a comprehensive range
of online tools, variable printing services and market-specific
solutions. For more information, visit the company's web site at
http://www.rrdonnelley.com/ . About EDGAR(R) Online, Inc. EDGAR
Online, Inc., http://www.edgar-online.com/ , is a leading provider
of value-added business and financial information on global
companies to financial, corporate and advisory professionals. The
Company makes information and a variety of analysis tools available
via online subscriptions and licensing agreements to a large user
base. Use of Forward-Looking Statements This press release may
contain "forward-looking statements" as defined in the U.S. Private
Securities Litigation Reform Act of 1995. Readers are cautioned not
to place undue reliance on these forward-looking statements and any
such forward-looking statements are qualified in their entirety by
reference to the following cautionary statements. All
forward-looking statements speak only as of the date of this press
release and are based on current expectations and involve a number
of assumptions, risks and uncertainties that could cause the actual
results to differ materially from such forward-looking statements.
Readers are strongly encouraged to read the full cautionary
statements contained in EDGAR Online's filings with the SEC. EDGAR
Online disclaims any obligation to update or revise any
forward-looking statements EDGAR(R) 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. DATASOURCE: EDGAR Online, Inc. CONTACT: T.
David Colgren of Colcomgroup, Inc., +1-646-536-5103, , for EDGAR
Online, Inc. Web site: http://www.edgar-online.com/
http://tryxbrl.com/ http://www.rrdonnelley.com/
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