Exhibit 99.1
Innodata Isogen Announces $10 Million
in New 2007 Wins and Marketing Successes
NEW YORK--(BUSINESS WIRE)--April 26, 2007--INNODATA ISOGEN, INC.
(NASDAQ: INOD) announced today that it had secured several significant
new projects in the first quarter of 2007 that are expected to produce
approximately $10 million in additional revenues in 2007.
The company also announced that it has been issued a five-year
General Services Administration (GSA) schedule, and that it has
secured its first government contract - from a US intelligence agency
- - under this schedule.
In addition, Innodata Isogen announced that it has obtained
permission to publicize its ongoing involvement with Lockheed Martin's
Joint Strike Fighter program.
Steve Ford, CFO of Innodata Isogen, said, "With the $10 million of
additional business we are announcing today, our expected 2007
revenues from already secured business now total about $50 million.
This amount consists of the $10 million in business announced today,
$9 million in new business announced on January 10, $250,000 in new
business announced on January 30, $6 million from existing one-time
projects, and $26 million of recurring revenue. This compares with $41
million of revenues we reported for all of 2006. We will continue our
aggressive sales efforts to further increase our 2007 business."
The new wins that the company expects will result in approximately
$10 million of additional 2007 revenues consist of the following:
-- $7.4 million from two outsourced content creation projects for
a major multimedia publisher awarded to the company in the
first quarter;
-- $1 million from a content conversion project for a company
that became a customer in 2006;
-- $600,000 from a technical writing engagement, which now has an
annualized value of approximately $1.25 million per year, with
a large technology company. This represents the successful
attainment of the possible increase referred to in the company
news release dated January 30, 2007, announcing an engagement
then valued at $250,000.
-- A $520,000 contract with a U.S. intelligence agency for
advanced information systems development.
Jack Abuhoff, Innodata Isogen CEO said, "We are pleased that just
one quarter into 2007, we have secured enough business to potentially
drive a 25% year-over-year increase in revenues. Even more exciting is
that we still have three quarters left in 2007 to improve on this."
The intelligence agency contract was awarded under the newly
issued GSA schedule. Renee Swank, who heads the Commercial and
Advanced Programs practice that supports U.S. intelligence agencies,
said, "This new contract attests to the value we can bring to
intelligence agencies that are looking for new ways to share and find
information. We can serve this market more fully and directly now that
we have a GSA schedule in place." The GSA schedule is a key
procurement vehicle for government entities.
The company is also announcing that it has been collaborating with
Lockheed Martin on building technical documentation systems for the
Joint Strike Fighter (JSF), otherwise known as the F-35, the largest
weapon system program in history. Until now, Innodata Isogen was under
a non-disclosure agreement that prevented it from mentioning its role
in this project.
The technical documentation system Innodata Isogen is helping
design and build enables F-35 maintenance technicians to
electronically access information that is customized for each
particular aircraft configuration.
The Joint Strike Fighter (JSF) program is the Department of
Defense's focal point for defining affordable next generation strike
aircraft weapon systems for the Navy, Air Force, Marines and U.S.
allies. The focus of the program is affordability - reducing the
development cost, production cost, and cost of ownership of the JSF
family of aircraft.
"Our challenge here was to design a documentation system that made
information management live up to the JSF program's standards for cost
efficiency without any sacrifice in customization or
individualization," said Kate McDonald, Innodata Isogen Vice President
and head of the Aerospace & Defense Practice. "That we are now able to
disclose our ongoing role will allow us to highlight to other
customers and prospects that we can help them create cost-effective
systems for publishing highly targeted, customized information."
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 forward-looking statements that are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. The words "project," "head start,"
"believe," "expect," "should," "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 largely on the
company's current expectations, and are subject to a number of risks
and uncertainties, including without limitation, the primarily at-will
nature of the Company's contracts with its customers and the ability
of customers to reduce, delay or terminate projects, depressed 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 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 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.
CONTACT: Innodata Isogen, Inc.
Steven L. Ford, 201-371-2510
Executive Vice President & CFO
sford@innodata-isogen.com