Edgar Online reports surge in XBRL filings

Source: Edgar Online

EDGAR® Online, Inc. (NASDAQ: EDGR), a premier provider of fundamental financial data, analytics and disclosure management services, today announced 306 percent growth in the number of XBRL filings it delivered in Q4 2011 versus the same quarter in 2010 and an overall increase of 113 percent in the total number of filings delivered during 2010.

EDGAR Online also announced that it delivered 830 risk and return filings in 2011 for mutual funds and investment companies, both milestones solidifying the company's position as one of the top disclosure management providers in an increasingly competitive environment.

Enhanced market awareness, along with growth in the overall equity filings market from approximately 480 filings in Q4 2009 to approximately 8,020 filings in Q4 2011, is driving demand for a high level of knowledge and expertise when managing all levels of a company's XBRL taxonomy design and disclosure management processes. Financial officers are increasingly relying upon service providers such as EDGAR Online and its partners to assist them in the onboarding and detailed filing process to ensure disclosures are handled as efficiently as possible.

"Despite the number of providers in the competitive landscape more than doubling since 2009, this continued growth in filings handled by EDGAR Online signifies our leadership in helping public companies disclose their documents in XBRL," said EDGAR Online President and CEO Robert J. Farrell. "In the coming year, we will continue to work with our financial publishing partners to provide our industry leading assisted disclosure management and compliance services to their SEC filing customers. In 2012, we also look forward to continuing to enhance our capabilities for companies seeking more control of the filings process while leveraging EDGAR Online's established expertise."

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