Innodata Isogen has a market cap of $138 million; its shares were traded at around $5.9 with a P/E ratio of 18 and P/S ratio of 1.9.
Highlight of Business Operations:In June 2011, the Financial Accounting Standards Board (FASB) issued a standard regarding the presentation of other comprehensive income (OCI). The new guidance eliminates the option of presenting OCI in the statement of stockholders’ equity, and requires us to report items of OCI in either (1) a continuous statement of comprehensive income or (2) two separate but consecutive statements. The guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2011. We adopted the guidance in the first quarter of 2012. The adoption of this guidance did not have any impact on our condensed consolidated financial statements.
In September 2011, the FASB issued an update on the testing of goodwill impairment. The revised standard provides companies with the option of performing a “qualitative” assessment to determine whether further impairment testing is necessary. An entity can choose to perform the qualitative assessment on none, some, or all of its reporting units, or can bypass the qualitative assessment for any reporting unit in any period and proceed directly to step one of the impairment test. The standard is effective for fiscal years beginning after December 15, 2011, however early adoption was permitted. The adoption of this guidance did not have any impact on our condensed consolidated financial statements.
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