Innodata Isogen Swings to Profit

NJBIZ STAFF//August 9, 2005//

Innodata Isogen Swings to Profit

NJBIZ STAFF//August 9, 2005//

Listen to this article

Hackensack”s Innodata Isogen (Nasdaq: INOD), a provider of content supply chain solutions to online information providers and companies in the telecommunications, technology, health care, defense and Internet commerce sectors, Thursday swung to a fourth-quarter and year-end profit, helped by cost-cutting measures, increased operational efficiencies and a more favorable business climate.For the quarter, the company reported net income of $734,000, or $0.03 per diluted share, compared with a net loss of $1.99 million, or $0.09 per diluted share, for the fourth quarter of 2002. Revenue climbed 75% to $10.82 million from $6.16 million for the same period in 2002. For the full year, the company reported net income of $475,000, or $0.02 per diluted share, compared with a net loss of $5.17 million, or $0.24 per diluted share, in 2002. Revenue totaled $36.71 million compared with $36.39 million in 2002. Looking ahead, the company said it is optimistic that demand for its services will continue to strengthen in 2004.”We”ve come out of the last couple of years a more focused and more competitive organization that can better execute on our strategy and better capitalize on substantial opportunities in our markets,” CEO Jack Abuhoff said in a press release.At the close of trading, the company”s shares were down $0.34 to $3.56.