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<SEC-DOCUMENT>0001157523-04-010603.txt : 20041112
<SEC-HEADER>0001157523-04-010603.hdr.sgml : 20041111
<ACCEPTANCE-DATETIME>20041112062001
ACCESSION NUMBER:		0001157523-04-010603
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20041111
ITEM INFORMATION:		Results of Operations and Financial Condition
FILED AS OF DATE:		20041112
DATE AS OF CHANGE:		20041112

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INNODATA ISOGEN INC
		CENTRAL INDEX KEY:			0000903651
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374]
		IRS NUMBER:				133475943
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1216

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22196
		FILM NUMBER:		041134902

	BUSINESS ADDRESS:	
		STREET 1:		THREE  UNIVERSITY PLAZA
		STREET 2:		SUITE 506
		CITY:			HACKENSACK
		STATE:			NJ
		ZIP:			07601
		BUSINESS PHONE:		201 488 1200

	MAIL ADDRESS:	
		STREET 1:		THREE UNIVERSITY PLAZA
		STREET 2:		SUITE 506
		CITY:			HACKENSACK
		STATE:			NJ
		ZIP:			07601

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INNODATA CORP
		DATE OF NAME CHANGE:	19930505
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a4763861.txt
<DESCRIPTION>INNODATA ISOGEN 8-K
<TEXT>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT


     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


                        Date of Report: November 11, 2004

                       (Date of earliest event reported):


                              INNODATA ISOGEN, INC.
             (Exact name of registrant as specified in its charter)


           Delaware                 0-22196                13-3475943
 (State or other jurisdiction     (Commission           (I.R.S. Employer
       of incorporation)          File Number)          Identification No.)


           Three University Plaza
            Hackensack, NJ 07601                            07601
  (Address of principal executive offices)                (Zip Code)


                                 (201) 488-1200
              (Registrant's telephone number, including area code)

                                       N/A
          (Former name or former address, if changed since last report)


Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

|_|  Written communications pursuant to Rule 425 under the Securities Act (17
     CFR 230.425)

|_|  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
     240.14a-12)

|_|  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

|_|  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))


<PAGE>


Item 2.02    Results of Operations and Financial Condition.
             ----------------------------------------------

     The following information is furnished pursuant to Item 2.02, "Results of
Operations and Financial Condition."

     On November 11, 2004, Innodata Isogen, Inc. issued a press release
announcing its third quarter 2004 financial results. A copy of the press release
is attached hereto as Exhibit 99.1.






                                       2
<PAGE>


                                   SIGNATURES
                                   ----------

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                                 INNODATA ISOGEN, INC.



Date: November 11, 2004                          By: /s/ Stephen Agress
                                                     ---------------------------
                                                     Stephen Agress
                                                     Vice President, Finance




                                       3
<PAGE>


                                INDEX TO EXHIBITS
                                -----------------


   Exhibit No.                               Description
   -----------       -----------------------------------------------------------
      99.1           Press Release of Innodata Isogen, Inc., dated November 11,
                     2004, reporting third quarter 2004 financial results.





                                       4

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a4763861ex991.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>
                                                                    EXHIBIT 99.1

          Innodata Isogen Reports Third Quarter 2004 Results

    NEW YORK--(BUSINESS WIRE)--Nov. 11, 2004--INNODATA ISOGEN, INC.
(NASDAQ:INOD)

    --  Company earns $3.1 million on 42% increase in revenues

    --  Revenues up 56% in first nine months of 2004

    --  Margins improve, balance sheet strengthened

    INNODATA ISOGEN, INC. (NASDAQ:INOD), a leading provider of content
supply chain solutions, today reported earnings of $3,103,000, or
$0.13 per diluted share, for the third quarter of 2004, versus
earnings of $1,490,000 or $0.06 per diluted share, for the third
quarter of 2003.
    Earnings in the first nine months of 2004 were $6,760,000, or
$0.28 per diluted share, as compared to a loss of $259,000, $0.01 per
diluted share, over the same period in 2003.
    Revenues increased 42% to $15,927,000 in the third quarter of 2004
from revenues of $11,184,000 in the third quarter of 2003; and
revenues rose 56% to $40,438,000 for the nine months ended September
30, 2004 from $25,893,000 for the same period last year.
    In addition, the company's cash position increased from
approximately $14.3 million at the end of the second quarter 2004 to
total $16.1 million at the end of the third quarter 2004.
    Innodata Isogen generated approximately $2.2 million in cash from
operations in the third quarter of 2004. In addition, working capital
increased to approximately $20.2 million. The company currently
carries virtually no debt other than routine payables.
    The increased revenues primarily reflect increased project-based
sales to several of Innodata Isogen's largest clients, made possible
by its enhanced services portfolio and increased capital spending by
companies in the markets it serves.
    "We're pleased to report another quarter of strong revenue and
income growth," said Jack Abuhoff, Chairman and CEO of Innodata
Isogen. "Our profitability has improved substantially and the
company's financial condition is robust."
    Abuhoff said that he expects the company's financial results in
the fourth quarter of 2004 to show continued significant
year-over-year improvement, but at a lower revenue level than achieved
in the third quarter, and that he expects 2005 to continue to show
double-digit growth.
    "I am optimistic about growth," Abuhoff continued. "We're seeing
companies in our core markets continuing, if not accelerating, their
investment in content infrastructure, technology and processes -
mainly because intellectual assets, such as content, are increasingly
the basis of economic activity, especially in the United States and
other developed countries."


Timing of Conference Call with Q&A

Innodata Isogen will conduct an investor conference call, including a
question & answer period, at 11:00 AM ET today. Interested parties can
participate in this call by dialing the following call-in numbers:

1-800-289-0569 (Domestic)
1-913-981-5542 (International)

Replays will also be made available at:

1-888-203-1112 (Domestic Replay)
1-719-457-0820 (International Replay)
(Passcode on Replay only: 805926)

Investors are also invited to access a live Webcast of the conference
call at the Investor Relations section of www.innodata-isogen.com.
Please note that the Webcast feature will be in a listen-only mode.
Call-in or Webcast replay will be available for 30 days following the
conference call.

    About Innodata Isogen

    Innodata Isogen (www.innodata-isogen.com) optimizes content supply
chains, helping clients realize significant cost savings and
productivity gains from content-related operations, achieve better
outcomes and compete more effectively in demanding global markets.
    Our solutions encompass virtually every activity necessary to
create, use and distribute information products. Clients can choose
from an array of integrated point solutions or simply outsource their
entire content supply chain to Innodata Isogen.
    The company, based in metro New York, has three content solution
centers in North America, seven certified content production
facilities and a dedicated tools and technology center in Asia,
together employing more than 7,500 content specialists worldwide.
    Among our extensive roster of blue-chip clients are the world's
leading commercial publishers, Global 2000 enterprises, government
agencies, and major archives, libraries and museums.

    This release contains certain forward-looking statements,
including without limitation, statements concerning the company's
operations, economic performance, and financial condition. These
forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
The words "believe," "expect," "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, continuing revenue
concentration in a limited number of clients, continuing reliance on
project-based work, worsening of 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.


                INNODATA ISOGEN, INC., AND SUBSIDIARIES
            CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
               (In thousands, except per share amounts)
                              (Unaudited)

                                     Three Months       Nine Months
                                         Ended             Ended
                                   ----------------- -----------------
                                     September 30      September 30
                                   ----------------- -----------------

                                     2004     2003     2004     2003
                                   -------- -------- -------- --------

REVENUES                           $15,927  $11,184  $40,438  $25,893
                                   -------- -------- -------- --------

OPERATING COSTS AND EXPENSES:
 Direct operating expenses           8,847    7,225   24,481   19,458
 Selling and administrative
  expenses                           2,847    2,002    7,514    6,561
 Bad debt recovery - net                 -        -     (963)       -
 Interest (income) - net               (14)      (4)     (13)     (19)
                                   -------- -------- -------- --------

     Total                          11,680    9,223   31,019   26,000
                                   -------- -------- -------- --------
INCOME (LOSS) BEFORE PROVISION FOR
  INCOME TAXES                       4,247    1,961    9,419     (107)

PROVISION FOR INCOME TAXES           1,144      471    2,659      152
                                   -------- -------- -------- --------

NET INCOME (LOSS)                  $ 3,103  $ 1,490  $ 6,760  $  (259)
                                   ======== ======== ======== ========

INCOME (LOSS) PER SHARE:
 Basic                             $   .14  $   .07  $   .30  $  (.01)
                                   ======== ======== ======== ========
 Diluted                           $   .13  $   .06  $   .28  $  (.01)
                                   ======== ======== ======== ========

WEIGHTED AVERAGE SHARES
 OUTSTANDING:
 Basic                              22,429   21,593   22,176   21,499
                                   ======== ======== ======== ========
 Diluted                            24,659   23,225   24,541   21,499
                                   ======== ======== ======== ========


                INNODATA ISOGEN, INC., AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED BALANCE SHEETS
                            (In thousands)

                                                  Sept. 30,  Dec. 31,
                                                    2004       2003
                                                 ---------- ----------
                                                 Unaudited   Derived
                                                              from
                                                             audited
                                                            financial
                                                            statements
ASSETS

CURRENT ASSETS
Cash and equivalents                             $  16,109  $   5,051
Cash and equivalents - restricted                        -      1,000
Accounts receivable-net                             10,611      8,497
Refundable income taxes                                  -      1,075
Prepaid expenses and other current assets            1,383        999
Deferred income taxes                                  307      1,421
                                                 ---------- ----------

       Total current assets                         28,410     18,043

PROPERTY AND EQUIPMENT - NET                         4,860      5,628

OTHER ASSETS                                           932        800

GOODWILL                                               675        675
                                                 ---------- ----------

TOTAL                                            $  34,877  $  25,146
                                                 ========== ==========

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
Accounts payable and accrued expenses            $   2,657  $   2,451
Accrued salaries and wages                           4,104      2,865
Income and other taxes                               1,286        598
Current portion of capital lease obligations           156        146
                                                 ---------- ----------

       Total current liabilities                     8,203      6,060
                                                 ---------- ----------

DEFERRED INCOME TAXES PAYABLE                        1,423      1,410
                                                 ---------- ----------

OBLIGATIONS UNDER CAPITAL LEASE                        152        272
                                                 ---------- ----------

STOCKHOLDERS' EQUITY                                25,099     17,404
                                                 ---------- ----------

TOTAL                                            $  34,877  $  25,146
                                                 ========== ==========

    CONTACT: Innodata Isogen
             Al Girardi, 201-488-1200, Ext. 5392
             agirardi@innodata-isogen.com

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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