Business Wire to Highlight Press Releases as Key Disclosure Tool at NIRI 2009

. June 7, 2009 . 0 Comments

Business Wire, exhibiting at the National Investor Relations Institute (NIRI) 2009 Annual Conference, will be highlighting its improved press release presentation at its Business Wire is High Definition booth.

Business Wire’s superior formatting and delivery technology will demonstrate the continued benefit of using a widely-distributed press release — including full financial tables — as the cornerstone of disclosure strategy, rather than a standalone web posting or a “Notice & Access” release which requires market participants to attempt to retrieve financial results from a company’s servers.

The Business Wire model of a widely-distributed financial press release conforms to NIRI’s Standards of Practice for Investor Relations regarding Earnings Release Content, which states that the best practice for financial statements is to “provide sufficient line item information for the investor to follow the calculation from revenue to net income.”

Business Wire’s advanced press release features include:

Delivery via Business Wire’s exclusive, patented NX platform. NX provides high-speed, simultaneous transmission of Business Wire’s technologically and aesthetically advanced news file to all recipients, including analysts, institutional investors, retail investors and financial information systems.
Exclusive XHTML formatting, enhancing press release functionality by embedding multimedia and data tags, as well as enhancing SEO through search-engine-friendly style benefits, such as embedded hyperlinks, bolds, and bulleted lists.
Earnings tables are presented in a format that closely mirrors the original spreadsheet presentation — wider tables, with underlined headers that can be cut and pasted into a spread sheet.
Delivery of XBRL-tagged financials. Business Wire offers complete in-house tagging and delivery of financial results in XBRL, helping companies to meet the SEC mandate on XBRL.
NewsTrak reports which provide measurement information including press release views, referring links, click-throughs and other crucial audience data.
Business Wire’s industry-leading technology and presentation make the press release more valuable than ever as the leading tool for maintaining best practices in disclosure.

When you distribute material news via Business Wire, your financials are available to all market participants simultaneously. Institutional investors, retail investors, automated financial news systems and algorithmic trading systems (which now comprise 40 percent of total US equities trading) all have instantaneous, simultaneous access to your financial results and other material news. Because our patented NX Network is push-driven and bi-directional for verification of receipt, capital markets and thousands of media have access to your press release. This model also fits with the SEC’s XBRL mandate, making your tagged financials instantly consumable by investors, analysts and financial news systems.

In contrast, Notice & Access releases require market participants to come to your servers, via a variety of routes, to retrieve your financials which must then be transferred manually, increasing the risk of errors and/or slowdowns in trading decisions and news delivery. Delivery is non-simultaneous, as users may access yours at different times and download speeds. These limitations in technology and information flow can increase the cost of capital for issuers and result in less efficient, less transparent markets.

Further information on the advantages of wire disclosure over “Notice & Access” and web posting will be available via a set of handouts available at the Business Wire booth.

Business Wire will also be hosting XBRL educational opportunities at the conference, with XBRL School. Disclosure and XBRL expert Gary Purnhagen will lead six 45-minute sessions on Monday, June 8 and Tuesday, June 9, to teach attendees all they need to know about XBRL, including what it is, how it fits each company’s mission statement, and what the SEC’s rules are regarding XBRL.

Visit Business Wire at Booth #312 & 314 to register for any of the XBRL School sessions and to register to win a Blu-Ray player and Blu-Ray discs in a raffle to be drawn at the conference.

About Business Wire

Business Wire, a Berkshire Hathaway company, is utilized by tens of thousands of member companies and organizations worldwide to functionally enhance and communicate investor relations and public relations content to target audiences. As a recognized disclosure service in the United States, Canada and a dozen European countries, Business Wire facilitates the simultaneous flow of market-moving press releases from corporations to financial markets and their audiences, including regulatory authorities, media, investors, financial information systems and consumer news services. Business Wire also handles XBRL tagging, document formatting and regulatory filing into EDGAR, SEDAR, FSA and other systems.

Communications professionals turn to Business Wire to optimize and issue press releases, photos and multimedia to news organizations, journalists, trade publications, search engines, and individuals, with full-text posting to web sites, online services and databases. A range of distribution options enables members to target by geography, industry, news theme and audience demographics.

Founded in 1961, Business Wire has dual headquarters in San Francisco and New York, with 30 bureaus in cities including Los Angeles, Chicago, Boston, Miami, Paris, Frankfurt, London, Brussels, Tokyo, Toronto and Sydney and reciprocal offices throughout the world. Business Wire’s patented NX data platform supports XML, XHTML and XBRL code that enhances news release interactivity, social media sharing and search engine optimization. More information about Business Wire and its services is located on its website at www.BusinessWire.com.

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