RR Donnelley and EDGAR Online Launch EZ Start XBRL Initiative to Drive Participation in the SEC XBRL Voluntary Filing Program
June 29 2006 - 5:01PM
PR Newswire (US)
Exclusive Offer Provides One Complimentary Voluntary Submission of
Financial Data to the SEC for Voluntary Supplemental Filing Program
Participants and Up to Twelve Months' Complimentary Submissions for
Current Official Test Program Participants CHICAGO, June 29
/PRNewswire-FirstCall/ -- R.R. Donnelley & Sons Company
(NYSE:RRD) and EDGAR(R) Online(R), Inc. (NASDAQ:EDGR) announced
today an exclusive initiative to speed XBRL adoption and to drive
participation in the SEC XBRL Voluntary and Test Filing Programs.
To help publicly-traded companies respond to SEC Chairman Cox's
urgent call for increased use of computer-readable interactive
data, RR Donnelley and EDGAR Online will provide one complimentary
interactive data submission prior to October 31, 2006 for any SEC
registrant that commits to furnish their financial data to the SEC
in XBRL as part of the Voluntary Supplemental Filing Program. For
existing members of the Interactive Test Group, RR Donnelley and
EDGAR Online will extend this offer to provide complimentary data
submissions during the remaining terms of their twelve month
participation. Participants in the Voluntary Supplemental Filing
Program can start and stop filing via XBRL, do not have to furnish
filings consecutively in XBRL, and can file earnings releases in
XBRL. Interactive Data Test Group participants are required to
furnish four filings containing financial information in XBRL and
to provide feedback to the SEC. Interactive Data Test Group
participants benefit from expedited reviews of their securities
registrations. At least twenty-four corporations, including RR
Donnelley and EDGAR Online, have become part of the Interactive
Test Group. "As a global leader in financial printing and filing
services, RR Donnelley is helping publicly-traded companies to
implement this important XBRL initiative in the United States,"
stated Tom Juhase, President, RR Donnelley Financial Services.
"XBRL is an international standard already being employed in a
number of countries in which we provide financial printing and
communications services," he continued. Susan Strausberg, CEO and
President of EDGAR Online also stated, "Encouraging participation
is a meaningful way to help financial executives embrace this
technology. RR Donnelley and EDGAR Online are leveraging our
exclusive partnership to make it easy for companies to engage."
Colleen Cunningham, President and CEO, Financial Executives
International encourages companies to become more informed about
the benefits of XBRL. "It is important to know that the early XBRL
adopters will submit their data as unaudited. The SEC is really
looking to collect feedback on this information. This important
initiative supports the commitment to build a world-class finance
function that embraces new technology, can add value to
stakeholders and enable companies to make more informed business
decisions." For companies that choose to furnish financial data to
the SEC, RR Donnelley and EDGAR Online will provide a US
GAAP-compliant XBRL instance document for the associated financials
that is ready to submit to the SEC. This includes the income
statement, balance sheet and cash flow statement contained in the
companies' Form 10-Ks and Form 10-Qs. The offer also includes 8-K
composition, file validation, and submission to the SEC. RR
Donnelley and EDGAR Online will also significantly reduce the cost
of ongoing participation in the voluntary program for the next 12
months for these participants. "Experience will enhance companies'
understanding of the XBRL initiative and this exclusive offer will
give organizations a valuable incentive to embrace and benefit from
this important change," added Juhase. More information about taking
advantage of this offer is available from RR Donnelley sales
representatives or via requests e-mailed to . About XBRL XBRL is a
standards-based method with which users can prepare, publish (in a
variety of formats), exchange and analyze financial statements and
the information they contain. XBRL complements XML, which is the
universal format for data on the Web that uses tags (identifiers)
to describe and deliver data from an application. XBRL allows
accountants and other financial professionals and regulatory
organizations to identify -- by a tag -- items unique to business
information, such as financial statements. About RR Donnelley RR
Donnelley (NYSE:RRD) is the world's premier full-service provider
of print and related services, including business process
outsourcing. Founded more than 140 years ago, the company provides
solutions in commercial printing, direct mail, financial printing,
print fulfillment, forms and labels, logistics, call centers,
transactional print-and-mail, print management, online services,
digital photography, color services, and content and database
management to customers in the publishing, healthcare, advertising,
retail, technology, financial services and many other industries.
The largest companies in the world and others rely on RR
Donnelley's scale, scope and insight through a comprehensive range
of online tools, variable printing services and market-specific
solutions. For more information, visit the company's web site at
http://www.rrdonnelley.com/ . About EDGAR(R) Online(R), Inc.
EDGAR(R) Online(R), Inc. (NASDAQ:EDGR),
http://www.edgar-online.com/ , is a leading provider of value-added
business and financial information on global companies to
financial, corporate and advisory professionals. The company makes
its information and a variety of analysis tools available via
online subscriptions and licensing agreements to a large user base.
Use of Forward-Looking Statements This news release may contain
"forward-looking statements" as defined in the U.S. Private
Securities Litigation Reform Act of 1995. Readers are cautioned not
to place undue reliance on these forward-looking statements and any
such forward-looking statements are qualified in their entirety by
reference to the following cautionary statements. All
forward-looking statements speak only as of the date of this news
release and are based on current expectations and involve a number
of assumptions, risks and uncertainties that could cause the actual
results to differ materially from such forward-looking statements.
Readers are strongly encouraged to read the full cautionary
statements contained in RR Donnelley's and EDGAR Online, Inc.'s
filings with the SEC. RR Donnelley and EDGAR Online, Inc. disclaim
any obligation to update or revise any forward-looking statements.
DATASOURCE: R.R. Donnelley & Sons Company CONTACT: Media
Contact: Doug Fitzgerald, Senior Vice President Marketing &
Communications, +1-630-322-6830, , or Investor Contact: Dan Leib,
Vice President, Investor Relations, +1-312-326-7710, ; or EDGAR
Online Media Contact: T. David Colgren, Colcomgroup, Inc. (for
EDGAR Online), +1-646-536-5103, , or Investor Contact: Mike Frank,
EDGAR Online Investor Relations, +1-212-457-8231, Web site:
http://www.rrdonnelley.com/ http://www.edgar-online.com/
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