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<SEC-DOCUMENT>0001157523-08-006524.txt : 20080807
<SEC-HEADER>0001157523-08-006524.hdr.sgml : 20080807
<ACCEPTANCE-DATETIME>20080807082703
ACCESSION NUMBER:		0001157523-08-006524
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080807
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20080807
DATE AS OF CHANGE:		20080807

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:		08996605

	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>a5750743.htm
<DESCRIPTION>INNODATA ISOGEN, INC. 8-K
<TEXT>
<html>
  <head>
    <title></title>
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  <body style="font-size: 8pt; font-family: Times New Roman">
    <p style="text-align: center">
      <font style="font-size: 18pt; font-family: Times New Roman"><b>UNITED
      STATES</b></font><b><font style="font-size: 18pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 18pt"></font><font style="font-size: 18pt; font-family: Times New Roman">SECURITIES
      AND EXCHANGE COMMISSION</font></b><br><br><font style="font-size: 10pt; font-family: Times New Roman"><b>Washington,
      D.C. 20549</b></font><br><br><font style="font-size: 18pt; font-family: Times New Roman"><b>FORM
      8-K</b></font><br><br><font style="font-size: 12pt; font-family: Times New Roman"><b>CURRENT
      REPORT</b></font><br><br><font style="font-size: 12pt; font-family: Times New Roman"><b>Pursuant
      to Section 13 or 15 (d) of the Securities Exchange Act of 1934</b></font><br><br><font style="font-size: 10pt; font-family: Times New Roman">Date
      of Report: August 7, 2008</font><br><br><font style="font-size: 10pt; font-family: Times New Roman">(Date
      of earliest event reported):</font><br><br><br><font style="font-size: 18pt"><b>INNODATA
      ISOGEN, INC.</b></font><br><font style="font-size: 10pt; font-family: Times New Roman">(Exact
      name of registrant as specified in its charter)</font><br><br><br>
    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="width: 100%; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt">
      <tr>
        <td valign="bottom" style="width: 33%; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Delaware</b>
          </p>
        </td>
        <td valign="bottom" style="white-space: nowrap; width: 34%; text-align: center; padding-right: 0.0px; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>0-22196</b>
          </p>
        </td>
        <td valign="bottom" style="white-space: nowrap; width: 33%; text-align: center; padding-right: 0.0px; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>13-3475943</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="width: 33%; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or other jurisdiction of
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            incorporation)
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="width: 34%; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission File Number)
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="width: 33%; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (I.R.S. Employer
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="text-align:left">
    <table cellspacing="0" style="width: 100%; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt">
      <tr>
        <td valign="bottom" style="width: 33%; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Three University Plaza</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Hackensack, NJ 07601</b>
          </p>
        </td>
        <td style="width: 34%">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; width: 33%; text-align: center; padding-right: 0.0px; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>07601</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="width: 33%; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman">(Address
            of principal executive offices)</font>
          </p>
        </td>
        <td style="width: 34%">

        </td>
        <td valign="bottom" style="width: 33%; text-align: center; padding-left: 0.0px">
          <font style="font-size: 10pt; font-family: Times New Roman">(Zip
          Code)</font>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <font style="font-size: 10pt"><b>(201) 371-2828</b></font><font style="font-size: 10pt"><br style="font-size: 10pt"></font><font style="font-size: 10pt">(</font><font style="font-family: Times New Roman; font-size: 10pt">Registrant&#8217;s
      telephone number, including area code)</font><br><br><font style="font-size: 10pt"><b>N/A</b></font><font style="font-size: 10pt"><br style="font-size: 10pt"></font><font style="font-family: Times New Roman; font-size: 10pt">(Former
      name or former address, if changed since last report)</font>
    </p>
    <p>

    </p>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">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:</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <div style="width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt"><b>Item
      2.02&#160;&#160;&#160;&#160;&#160;</b></font><b><u><font style="font-family: Times New Roman; font-size: 10pt">Results
      of Operations and Financial Condition.</font></u></b>
    </p>
    <p style="text-indent: 30.0px; text-align: justify">
      <font style="font-size: 10pt">On August 7, 2008, Innodata Isogen, Inc.
      issued a press release announcing its second quarter 2008 financial
      results.&#160;&#160;A copy of the press release is attached hereto as Exhibit 99.1.</font>
    </p>
    <p style="text-indent: 30.0px; text-align: justify">
      <font style="font-size: 10pt">&#160;In accordance with General Instruction
      B.2 of Form 8-K, the information in this Current Report on Form 8-K,
      including Exhibit 99.1, shall not be deemed to be &#8220;filed&#8221; for purposes
      of Section 18 of the Securities Exchange Act of 1934, as amended (the
      &#8220;Exchange Act&#8221;), or otherwise subject to the liability of that section,
      and shall not be incorporated by reference into any registration
      statement or other document filed under the Securities Act of 1933, as
      amended, or the Exchange Act, except as shall be expressly set forth by
      specific reference in such filing.</font>
    </p>
    <p>
      <br>
      <font style="font-size: 10pt"><b>Item 9.01&#160;&#160;</b></font><b>&#160;&#160;&#160;<u><font style="font-family: Times New Roman; font-size: 10pt">Financial
      Statements and Exhibits.</font></u></b>
    </p>
    <p style="white-space: nowrap">
      <font style="font-size: 10pt">99.1 &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Press release dated
      August 7, 2008.</font>
    </p>
    <p style="text-align: center">
      2<br>
    </p>
    <div style="width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <u><font style="font-size: 10pt; font-family: Times New Roman"><b>SIGNATURES</b></font></u>
    </p>
    <p style="text-indent: 30.0px">
      <font style="font-size: 10pt; font-family: Times New Roman">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 hereunto duly authorized.</font>
    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="width: 100%; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt">
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px" colspan="2">
          <p style="margin-top: 0px; margin-bottom: 0px">
            INNODATA ISOGEN, INC.
          </p>
        </td>
        <td style="width: 13%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px" colspan="2">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 13%">

        </td>
      </tr>
      <tr>
        <td valign="top" style="width: 5%; text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Date:
        </td>
        <td valign="top" style="width: 45%; text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          August 7, 2008
        </td>
        <td valign="top" style="width: 7%; text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          By:
        </td>
        <td valign="top" style="border-bottom: solid black 1.0pt; width: 30%; text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ Steven L. Ford
          </p>
        </td>
        <td style="width: 13%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 7%">

        </td>
        <td valign="top" style="width: 30%; text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Steven L. Ford
          </p>
        </td>
        <td style="width: 13%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 7%">

        </td>
        <td valign="top" style="width: 30%; text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Executive Vice President
          </p>
        </td>
        <td style="width: 13%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 7%">

        </td>
        <td valign="top" style="width: 30%; text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            and Chief Financial Officer
          </p>
        </td>
        <td style="width: 13%">

        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      3
    </p>
    <div style="width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">
      <u><font style="font-size: 10pt"><b>INDEX TO EXHIBITS</b></font></u>
    </p>
    <p style="text-align: center">

    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="width: 100%; margin-bottom: 10.0px; font-family: Times New Roman; font-size: 10pt">
      <tr>
        <td valign="top" style="border-bottom: solid black 1.0pt; width: 10%; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Exhibit No.</b>
          </p>
        </td>
        <td style="width: 5%">
          &#160;
        </td>
        <td valign="top" style="border-bottom: solid black 1.0pt; width: 85%; text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Description</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="white-space: nowrap; width: 10%; text-align: center; padding-right: 0.0px; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            99.1
          </p>
        </td>
        <td style="width: 5%">

        </td>
        <td valign="top" style="white-space: nowrap; width: 85%; text-align: left; padding-right: 0.0px; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Press Release of Innodata Isogen, Inc., dated August 7, 2008,
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 10%">

        </td>
        <td style="width: 5%">

        </td>
        <td valign="top" style="width: 85%; text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            reporting second quarter 2008 financial results.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      4
    </p>
  </body>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a5750743ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2008 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 8pt; font-family: Times New Roman">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>Innodata
      Isogen Reports Year-over-Year Revenue Growth in Q2 2008</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>Revenue
      gains, improved profitability anticipated in second half of 2008</b></font>
    </p>
    <p>
      NEW YORK--(BUSINESS WIRE)--<b>INNODATA ISOGEN, INC. (NASDAQ: INOD)</b>,
      today announced revenue of $17,870,000 for the second quarter of 2008,
      up 9% from revenue of $16,347,000 in the second quarter of 2007, but
      down 3% from revenue of $18,400,000 in the first quarter of 2008.
    </p>
    <p>
      In line with its generalized guidance, the company also reported net
      income of approximately $36,000 in the second quarter of 2008, or less
      than $0.01 per diluted share, as compared to net income of $862,000, or
      $0.03 per diluted share, in the second quarter of 2007.
    </p>
    <p>
      The company attributed the decrease in year-over-year net income in the
      second quarter of 2008 to a decline in the value of the U.S. Dollar,
      which reduced income by approximately $900,000, and continued investment
      in building out the company&#8217;s KPO platform in new service capabilities.
    </p>
    <p>
      For the first six months of 2008, revenue was $36,270,000, up 25% from
      revenue of $29,076,000 for the first six months of 2007; and net income
      of $869,000, or $0.03 per diluted share, for the first six months of
      2008, was up from net income of $219,000, or $0.01 per diluted share,
      for the first six months of 2007. Cash and equivalents rose 36% from
      $11,208,000 on June 30, 2007 to $15,263,000 on June 30, 2008.
    </p>
    <p>
      The company purchased 430,000 shares of its common stock for $1,367,000
      during the second quarter of 2008, and to date this year has purchased
      606,000 shares of its common stock for $1,870,000, as part of the
      $2,000,000 stock buyback program authorized by the company&#8217;s board of
      directors on May 13, 2008.
    </p>
    <p>
      &#8220;We&#8217;re pleased with the revenue levels that we&#8217;re achieving, the new
      engagements we&#8217;ve announced this quarter, and a solid pipeline of new
      business,&#8221; said Jack Abuhoff, chairman and CEO of Innodata Isogen.
      &#8220;While the new business that we&#8217;re closing falls within our target gross
      margin range, we are now very focused on several initiatives to enhance
      overall company margins, and particularly margins on projects that
      started before the first half of 2007 and have been affected by the U.S.
      dollar depreciation that took place in the second half of 2007.
    </p>
    <p>
      &#8220;Our goal for the second half of 2008 is to maintain our growth
      momentum, while at the same time driving a series of cost management
      initiatives that improve profitability.&#8221;
    </p>
    <p>
      Abuhoff said that he expects revenue in the third quarter of this year
      to increase in the range of 5% to 10% from the second quarter: &#8220;For 2008
      overall, we continue to target revenue in the range of $76 million to
      $80 million, an increase of 12% to 18% over 2007 revenue, which in turn
      represents a 65% increase over 2006 revenue.&#8221;
    </p>
    <p>
      Abuhoff also noted that the company&#8217;s recurring revenue increased nearly
      16% from $10,946,000 in the second quarter of 2007 to $12,736,000 in the
      second quarter of 2008, accounting for approximately 71% of all revenue.
    </p>
    <div style="width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Timing of Conference Call with Q&amp;A</b>
    </p>
    <p>
      Innodata Isogen will conduct an earnings conference call, including a
      question &amp; answer period, at 11:00 AM ET today. You can participate in
      this call by dialing the following call-in numbers:
    </p>
    <p>
      1-888-631-5930 (Domestic)
    </p>
    <p>
      1-913-312-1277 (International)
    </p>
    <p>
      1-888-203-1112 (Domestic Replay)
    </p>
    <p>
      1-719-457-0820 (International Replay)
    </p>
    <p>
      Pass code on replay only: 1037478
    </p>
    <p>
      Investors are also invited to access a live Webcast of the conference
      call at the Investor Relations section of <u>www.innodata-isogen.com</u>.
      Please note that the Webcast feature will be in listen-only mode.
      Call-in or Webcast replay will be available for 30 days following the
      conference call.
    </p>
    <p>
      <b>About Innodata Isogen</b>
    </p>
    <p>
      Innodata Isogen, Inc. <b>(NASDAQ: INOD) </b>is a leading provider of
      knowledge process outsourcing (KPO) services, as well as publishing and
      related information technology (IT) services.
    </p>
    <p>
      We work as a product development partner to our clients, helping them
      meet their content creation and publishing challenges. We provide
      outsourcing services that draw upon onshore and offshore resources,
      proven project management and highly engineered processes and tools. We
      also help our clients improve their internal business operations with
      process and systems engineering.
    </p>
    <p>
      Our clients include leading enterprises in information-intensive
      industries such as media, publishing and information services, high
      technology, manufacturing, aerospace, defense, law, government and
      intelligence.
    </p>
    <p>
      Recent honors include EContent Magazine&#8217;s <i>EContent 100</i>,
      KMWorld Magazine&#8217;s <i>100 Companies That Matter in Knowledge
      Management,</i> the International Association of Outsourcing
      Professionals&#8217; (IAOP) <i>Global Outsourcing Top 100</i>, D&amp;B
      India&#8217;s <i>Leading ITeS and BPO Companies </i>and the Black Book
      of Outsourcing&#8217;s <i>Top List of</i> <i>Leading Outsourcing
      Providers to the Printing and Publishing Business</i>.
    </p>
    <p>
      Headquartered in Northern New Jersey, Innodata Isogen has offices and
      operations in the United States, the Philippines, India, Sri Lanka,
      China and France.
    </p>
    <p>
      <i>This release contains forward-looking statements that are made
      pursuant to the safe harbor provisions of the Private Securities
      Litigation Reform Act of 1995. The words &#8220;project,&#8221; &#8220;head start,&#8221;
      &quot;believe,&quot; &quot;expect,&quot; &#8220;should,&#8221; &quot;anticipate,&quot; &quot;indicate,&quot; &quot;point to&quot; and
      other similar expressions generally identify forward-looking statements,
      which speak only as of their dates.</i>
    </p>
    <p>
      <i>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, the primarily at-will
      nature of the company's contracts with its customers and the ability of
      customers to reduce, delay or terminate projects, customers are not
      contractually required to enter into or continue projects that the
      company regards as recurring, depressed 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.</i>
    </p>
    <div style="width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <i>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.</i>
    </p>
    <div style="text-align:left">
    <table cellspacing="0" style="width: 100%; margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="16">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>INNODATA ISOGEN, INC., AND SUBSIDIARIES</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="16">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="16">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(In thousands, except per share amounts)</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="16">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Unaudited)
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px" colspan="16">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="7">
          <b>Three Months Ended</b>
        </td>
        <td>
          &#160;
        </td>
        <td valign="top" style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="7">
          <b>Six Months Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="top" style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="7">
          <b>June 30,</b>
        </td>
        <td>

        </td>
        <td valign="top" style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="7">
          <b>June 30,</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px; padding-left: 0.0px" colspan="3">
          <b>2008</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px; padding-left: 0.0px" colspan="3">
          <b>2007</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px; padding-left: 0.0px" colspan="3">
          <b>2008</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: center; padding-right: 0.0px; padding-left: 0.0px" colspan="3">
          <b>2007</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          <b>Revenues</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          17,870
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          16,347
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          36,270
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          29,076
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Operating costs and expenses</b>
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Direct operating expenses
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          13,827
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          11,970
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          27,241
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          22,014
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Selling and administrative expenses
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          3,985
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          3,549
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          8,217
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          6,994
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px">
          Interest (income) &#8211; net
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          (50
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          (125
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          (106
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          (262
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px">
          Total
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          17,762
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          15,394
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          35,352
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          28,746
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Income before provision for income taxes</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          108
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          953
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          918
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          330
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Provision for income taxes
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          72
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          91
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          49
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          111
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          <b>Net income</b>
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          36
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          862
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          869
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          219
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Income per share:</b>
          </p>
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Basic:
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          -
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          .04
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          .04
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          .01
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Diluted:
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          -
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          .03
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          .03
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          .01
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Weighted average shares outstanding:</b>
          </p>
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Basic:
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          24,600
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          23,953
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          24,662
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          23,930
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Diluted:
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          25,408
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          25,051
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          25,807
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          24,897
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="width: 100%; text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <div style="text-align:left">
    <table cellspacing="0" style="width: 100%; margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman">
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="9">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>INNODATA ISOGEN,&#160;INC. AND SUBSIDIARIES</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="9">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>CONDENSED CONSOLIDATED BALANCE SHEETS</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="9">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(in thousands, except share data)</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px" colspan="9">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td valign="top" style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3">
          <b>June 30,</b>

          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>2008</b>
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td valign="top" style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" colspan="3">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>December 31, </b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>2007</b>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">

        </td>
        <td>

        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="3">
          (Unaudited)
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>ASSETS</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Current assets:</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Cash and cash equivalents
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          15,263
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          14,751
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Accounts receivable, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          8,793
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          10,673
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Prepaid expenses and other current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          2,767
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          2,117
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Refundable income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          4
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          453
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          304
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          202
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Total current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          27,131
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          28,196
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Property and equipment, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          7,397
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          7,160
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Other assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          2,953
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          2,037
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          483
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          381
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Goodwill
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          675
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          675
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 100.0px; padding-bottom: 4.0px">
          <b>Total assets</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          38,639
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          38,449
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>LIABILITIES AND STOCKHOLDERS&#8217; EQUITY</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Current liabilities:</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Accounts payable
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          1,055
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          1,973
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Accrued expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          3,561
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          2,227
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Accrued salaries, wages and related benefits
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          5,179
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          5,244
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Income and other taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          1,765
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          2,053
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px">
          Current portion of long term obligations
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          912
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          370
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Total current liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          12,472
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          11,867
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Deferred income taxes
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          1,181
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          1,224
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Long term obligations
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          3,018
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          2,128
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>Commitments and contingencies</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px">
          <b>STOCKHOLDERS&#8217; EQUITY</b>:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Serial preferred stock; 5,000,000 shares authorized, none outstanding
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" rowspan="3" style="text-align: left; padding-left: 10.0px">
          Common stock, $.01 par value; 75,000,000 shares authorized;
          24,907,000 issued and 24,295,000 outstanding at June 30, 2008; and
          24,881,000 shares issued and 24,699,000 outstanding at December 31,
          2007
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          249
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          249
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Additional paid-in capital
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          16,467
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          16,323
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px">
          Retained earnings
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          8,057
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          7,188
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 10.0px; padding-bottom: 2.0px">
          Accumulated other comprehensive loss
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          (1,119
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          (211
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          23,654
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          23,549
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" rowspan="2" style="text-align: left; padding-left: 15.0px">
          Less: treasury stock; 612,000 shares at June 30, 2008 and 182,000
          shares at December 31, 2007, at cost
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          (1,686
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          (319
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: left; padding-right: 0.0px; padding-left: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Total stockholders&#8217; equity
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          21,968
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: solid black 1.0pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          23,230
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 100.0px; padding-bottom: 4.0px">
          <b>Total liabilities and stockholders&#8217; equity</b>
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          38,639
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          $
        </td>
        <td valign="bottom" style="white-space: nowrap; border-bottom: double black 2.25pt; text-align: right; padding-right: 0.0px; padding-left: 0.0px">
          38,449
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
    <p>
      CONTACT:<br>Innodata Isogen, Inc.<br>Steven L. Ford, 201-371-2510<br>CFO<br><u>sford@innodata-isogen.com</u>
    </p>
    <p>

    </p>
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