-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LdxKfuWStK7DvrB38e2ztJc9KGHB6Qp+PGoPyPlq29WJolNlfZRoG2HhrKB/11vk /X+XviZ8hRgVTZ2H5lSkZw== 0001157523-07-004941.txt : 20070510 0001157523-07-004941.hdr.sgml : 20070510 20070510084825 ACCESSION NUMBER: 0001157523-07-004941 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070510 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070510 DATE AS OF CHANGE: 20070510 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INNODATA ISOGEN INC CENTRAL INDEX KEY: 0000903651 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374] IRS NUMBER: 133475943 STATE OF INCORPORATION: DE FISCAL YEAR END: 1216 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22196 FILM NUMBER: 07834981 BUSINESS ADDRESS: STREET 1: THREE UNIVERSITY PLAZA STREET 2: SUITE 506 CITY: HACKENSACK STATE: NJ ZIP: 07601 BUSINESS PHONE: 201 488 1200 MAIL ADDRESS: STREET 1: THREE UNIVERSITY PLAZA STREET 2: SUITE 506 CITY: HACKENSACK STATE: NJ ZIP: 07601 FORMER COMPANY: FORMER CONFORMED NAME: INNODATA CORP DATE OF NAME CHANGE: 19930505 8-K 1 a5399878.txt INNODATA ISOGEN, INC. 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: May 10, 2007 (Date of earliest event reported): INNODATA ISOGEN, INC. (Exact name of registrant as specified in its charter) Delaware 0-22196 13-3475943 (State or other jurisdiction of (Commission File Number) (I.R.S. Employer incorporation) Identification No.) Three University Plaza 07601 Hackensack, NJ 07601 (Zip Code) (Address of principal executive offices) (201) 488-1200 (Registrant's telephone number, including area code) N/A (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: |_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |_| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 2.02 Results of Operations and Financial Condition. ---------------------------------------------- On May 10, 2007, Innodata Isogen, Inc. issued a press release announcing its first quarter 2007 financial results. A copy of the press release is attached hereto as Exhibit 99.1. In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing. Item 9.01 Financial Statements and Exhibits. ---------------------------------- 99.1 Press release dated May 10, 2007. SIGNATURES ---------- Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. INNODATA ISOGEN, INC. Date: May 10, 2007 By: /s/ Steven L. Ford ------------------------------ Steven L. Ford Executive Vice President and Chief Financial Officer INDEX TO EXHIBITS ----------------- Exhibit No. Description - ----------- -------------------------------------------------------------- 99.1 Press Release of Innodata Isogen, Inc., dated May 10, 2007, reporting first quarter 2007 financial results. EX-99.1 2 a5399878ex99_1.txt EXHIBIT 99.1 Exhibit 99.1 Innodata Isogen Reports First Quarter 2007 Results -- Revenues Up 24% from 2006 First Quarter NEW YORK--(BUSINESS WIRE)--May 10, 2007--INNODATA ISOGEN, INC. (NASDAQ: INOD), a leading provider of content-related IT and BPO solutions, today announced revenues of $12,729,000 for the three months ended March 31, 2007, up 24% from revenues of $10,285,000 in the first quarter of 2006. The company reported a net loss of $643,000, or $0.03 per diluted share, for the first quarter of 2007, versus a net loss of $1,346,000 or $0.06 per diluted share, for the first quarter of 2006. For the second quarter of 2007, the company expects to achieve an approximately 50% increase in revenues over the second quarter of 2006, and it anticipates that its financial performance will continue to improve in the second half of 2007. Based on business that the company has secured to date, 2007 revenues could potentially exceed 2006 revenues by more than 20%. Jack Abuhoff, chairman and CEO of Innodata Isogen, said, "Our revamped organizational structure is in full swing and we are concentrating strongly on expanding our franchise with high-profile clients." Timing of Conference Call with Q&A Innodata Isogen will conduct an earnings conference call, including a question & answer period, at 11:00 AM ET today. You can participate in this call by dialing the following call-in numbers: 1-877-704-5378 (Domestic) 1-913-312-1292 (International) 1-888-203-1112 (Domestic Replay) 1-719-457-0820 (International Replay) Pass code on Replay only: 3696284 Investors are also invited to access a live Webcast of the conference call at the Investor Relations section of www.innodata-isogen.com. Please note that the Webcast feature will be in listen-only mode. Call-in or Webcast replay will be available for 30 days following the conference call. About Innodata Isogen Innodata Isogen (NASDAQ: INOD) helps organizations create and manage information more effectively and economically, providing a comprehensive range of content-focused IT and BPO services to solve information management and publishing challenges. We are headquartered in Hackensack, New Jersey, just outside of New York City. We have two additional solution centers in North America, seven production facilities in Asia (the Philippines, India and Sri Lanka) and a technology and tools development center in India. Innodata Isogen (www.innodata-isogen.com) is named to both EContent magazine's EContent 100 and KMWorld magazine's 100 Companies That Matter In Knowledge Management. KMWorld also recognized the unique value of Innodata Isogen's comprehensive content supply chain solutions in its Trend-Setting Products of 2006 annual honors. In addition, Innodata Isogen was also recently ranked as a leading provider of specialized BPO services by the International Association of Outsourcing Professionals (IOAP) on its annual Global Outsourcing 100 top list. This release contains certain forward-looking statements, including without limitation, statements concerning the company's operations, economic performance, and financial condition. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The words "estimate," "believe," "expect," and "anticipate" and other similar expressions generally identify forward-looking statements, which speak only as of their dates. These forward-looking statements are based largely on the company's current expectations, and are subject to a number of risks and uncertainties, including without limitation, continuing revenue concentration in a limited number of clients, continuing reliance on project-based work, worsening of market conditions, changes in external market factors, the ability and willingness of the company's clients and prospective clients 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, potential undiscovered liabilities of companies that Innodata Isogen acquires, changes in the company's business or growth strategy, the emergence of new or growing competitors, various other competitive and technological factors, and other risk and uncertainties indicated from time to time in the company's 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. We undertake no obligation to update or review any guidance or other forward-looking information, whether as a result of new information, future developments or otherwise. INNODATA ISOGEN, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) (Unaudited) Three Months Ended March 31, 2007 2006 -------- -------- REVENUES $12,729 $10,285 -------- -------- OPERATING COSTS AND EXPENSES: Direct operating expenses 10,044 8,353 Selling and administrative expenses 3,445 3,386 Interest (income) - net (137) (151) -------- -------- Total 13,352 11,588 -------- -------- LOSS BEFORE PROVISION FOR INCOME TAXES (623) (1,303) PROVISION FOR INCOME TAXES 20 43 -------- -------- NET LOSS $ (643) $(1,346) ======== ======== BASIC AND DILUTED LOSS PER SHARE $ (.03) $ (.06) ======== ======== WEIGHTED AVERAGE SHARES OUTSTANDING 23,906 24,033 ======== ======== INNODATA ISOGEN, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in Thousands) March 31, December 31, 2007 2006 ------------- -------------- Unaudited Derived from audited financial statements ASSETS CURRENT ASSETS: Cash and equivalents $12,462 $13,597 Accounts receivable-net 7,893 6,484 Prepaid expenses and other current assets 1,657 1,589 Refundable income taxes 1,062 1,062 Deferred income taxes 213 190 ------------- -------------- Total current assets 23,287 22,922 PROPERTY AND EQUIPMENT - NET 4,562 4,564 OTHER ASSETS 1,849 1,912 DEFERRED INCOME TAXES 256 256 GOODWILL 675 675 ------------- -------------- TOTAL $30,629 $30,329 ============= ============== LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Accounts payable $ 1,273 $ 987 Accrued expenses 2,116 2,117 Accrued salaries, wages and related benefits 4,715 4,259 Income and other taxes 1,448 1,295 Current portion of long term obligations 518 632 ------------- -------------- Total current liabilities 10,070 9,290 DEFERRED INCOME TAXES 1,143 1,126 LONG TERM OBLIGATIONS 1,011 904 STOCKHOLDERS' EQUITY 18,405 19,009 ------------- -------------- TOTAL $30,629 $30,329 ============= ============== CONTACT: Innodata Isogen, Inc. Steven L. Ford, 201-371-2510 Chief Financial Officer sford@innodata-isogen.com -----END PRIVACY-ENHANCED MESSAGE-----