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INNODATA CORPORATION REPORTS SECOND QUARTER AND SIX MONTHS RESULTS

 BROOKLYN, N.Y., Sept. 21 /PRNewswire/ -- Innodata Corporation (NASDAQ-NMS: INOD) today announced results for its second quarter and six months ended June 30, 1993.
 Revenues for the second quarter of 1993 increased 57 percent to $2,152,000 from $1,372,000 in the second quarter of 1992. Net income for the quarter increased 41 percent to $206,000 from $146,000 in the corresponding quarter of 1992. Earnings per share rose to 8 cents in 1993 compared to 6 cents in 1992. Revenues for the six months ended June 30, 1993 increased 53 percent to $3,924,000 from $2,557,000 for the same period in 1992. Net income was essentially unchanged at $316,000 in 1993 and $315,000 in 1992. Earnings per share was 12 cents in both periods.
 Commenting on the results, Barry Hertz, chairman and chief executive officer, said, "We are very pleased with the continued growth in revenues in the second quarter and in the first half of 1993, and that net income in the quarter increased from the comparable period in the prior year." He pointed out that income for the six months was essentially unchanged from the comparable period in the prior year. This in large part reflects increased direct operating expenses and an enhanced infrastructure, both of which are necessary to support a substantially higher revenue base.
 Mr. Hertz continued, "With the proceeds of the company's recently completed public offering the company anticipates and expansion of its existing production facilities, construction of additional facilities, an expansion of its sales and marketing activities and an increase in funding to research and develop new services to keep abreast of technological advances. Further, the company believes it is well positioned to pursue complementary acquisitions."
 Innodata Corporation performs data entry, data conversion, scanning, indexing and abstracting and related services using a 2,300-person workforce in the Philippines, where the wage rates are substantially lower than the prevailing rates in the United States and Europe. Sales, administration and customer support operations are provided from the company's offices in New York City and Maryland. The company serves major legal, medical, scientific, financial and technical publishers and electronic information services in the United State and Europe. The company also offers typesetting, composition and related publishing services from its facility in Maryland.
 INNODATA CORPORATION
 Financial Highlights
 Periods ended Three months Six months
 June 30, 1993 1992 1993 1992
 Revenues $2,152,000 $1,372,000 $3,924,000 $2,557,000
 Net income 206,000 146,000 316,000 315,000
 Income per share $.08 $.06 $.12 $.12
 Number of shares
 outstanding(A) 2,600,000 2,600,000 2,600,000 2,600,000
 (A) Shares used in the computation do not reflect the sale of 1,610,000 shares pursuant to a public offering after June 30, 1993.
 -0- 9/21/93
 /CONTACT: Aviva Jakubowitz, chief financial officer of Innodata Corporation, 718-625-7750/
 (INOD)


CO: Innodata Corporation ST: New York IN: CPR SU: ERN

SH-TS -- NY007 -- 4018 09/21/93 09:13 EDT
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Publication:PR Newswire
Date:Sep 21, 1993
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