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Innodata Isogen, Inc. (INOD)
Q3 2007 Earnings Call
November 14, 2007 11:00 a.m. ET
Jack Abuhoff - Chairman and CEO
Steve Ford - CFO
Al Girardi - VP of Marketing
Bill Sutherland - Boenning & Scattergood
Tim Clarkson - Van Clemente
Tim Reynolds - Goldman Sachs
Sudhir Kona - Kona Finance
Perry Highland - Van Clemens
James McGuire - Global Capital
Jane Levy - Seal Capital
Good morning and welcome to the Innodata Isogen Third Quarter 2007 Earnings Release Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Vice President of Marketing and Communication, Al Girardi. Please, go ahead, sir.
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Thanks Greg. Good morning and thank you for joining us on our third quarter 2007 Earnings Call. Our speakers today are Jack Abuhoff, Chairman and CEO of Innodata Isogen and Steve Ford, our company's Chief Financial Officer.
Statements made during this call and answers to your questions are intended to provide abbreviated, unofficial background to assist you in your review of the company's press release and SEC filings.
In addition, there may be some forward-looking comments regarding the company's operations, economic performance, and conditions. These forward-looking statements are made pursuant to the Safe Harbor provisions of the Private Securities and Litigation Reform Act. The words "believe," "expect," "anticipate," "indicate," "point to," and other similar expressions generally, identify forward-looking statements, which speak only as of their dates.
These forward-looking statements are based 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 current clients and prospective clients to execute their business plans which give rise to requirements for our services, 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, and various other competitive and technological factors, and other risks 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 these forward-looking statements. Along with these risks and uncertainties, there can be no assurance that the results referred to in these forward-looking statements will occur. We encourage you to read the risk factors described in Innodata Isogen's various SEC filings for an understanding of the factors that may affect the company's businesses and results.
And now, I will turn the call over Jack Abuhoff. Jack?
Thank you, Al. Good morning everyone. Thank you for joining us today. We are three quarters into this year and on plan to deliver record revenue growth in 2007. Today, Steve and Al are in New Jersey and I'm in Manila, the Philippines.
In our call today, I will review with you the highlights of our third quarter performance. Then we'll discuss the business, its direction, its improving dynamics and areas of expanding opportunity. I'll also discuss certain challenges we face and what we're doing about them. Then Steve Ford, will breakout the numbers in more detail. And, when Steve concludes, we'll take your questions and comments in our Q&A period.
Third quarter 2007 revenues were approximately $18.1 million, up nearly 75% from third quarter 2006 revenues of approximately $10.4 million, and up 11% from second quarter revenues of $16.3 million. The third quarter was our fifth straight quarter of sequential quarterly revenue growth. With only three quarters of the year in, we've already exceeded our 2006 revenues by $6.3 million.