LAKE SUCCESS, NY -- (MARKET WIRE) -- 12/04/07 --
Broadridge Financial Solutions, Inc.
(NYSE: BR) today announced the posting for public comment of draft
interactive proxy statements utilizing Extensible Business Reporting
Language (XBRL). Broadridge is seeking feedback from investors, public
companies, and others on the potential usefulness of the draft taxonomies
for shareholder communications and proxy voting purposes. The application
of XBRL to proxy statements has the potential to enhance the usefulness of
data contained in regulatory filings.
The proxy statement taxonomies are intended to capture a wide range of
basic facts required to be disclosed by public companies in filings with
the U.S. Securities and Exchange Commission (SEC) on an annual basis. XBRL
is a language for the electronic communication of business and financial
data. Instead of treating financial information as a block of text -- as
in a standard internet page or a printed document -- XBRL provides an
identifying tag for each individual item of data.
Bob Schifellite, President of the Investor Communication Solutions segment
of Broadridge, said, "We believe interactive proxy statements are a logical
next step in communications between public companies and their
shareholders. As a leading technology solutions firm, we are excited about
the potential to provide investors with qualitatively improved information
in cost-effective ways. We hope to stimulate public dialog on the
usefulness of the draft taxonomies."
Broadridge will collect comments for two months ending on January 31, 2008.
The taxonomy usage guide, architecture, requirements, coding "schema," and
procedures for providing comments are posted on the Company's website at
https://myservice.broadridge.com/XBRL.
About Broadridge
Broadridge Financial Solutions, Inc., formerly ADP Brokerage Services
Group, with over $2.0 billion in revenues and more than 40 years of
experience, is a leading global provider of technology-based outsourcing
solutions to the financial services industry. Our systems and services
include investor communication, securities processing, and clearing and
outsourcing solutions. We offer advanced, integrated systems and services
that are dependable, scalable and cost-efficient. Our systems help reduce
the need for clients to make significant capital investments in operations
infrastructure, thereby allowing them to increase their focus on core
business activities. For more information about Broadridge, please visit
www.broadridge.com.
Forward-Looking Statements
This press release and other written or oral statements made from time to
time by representatives of Broadridge may contain "forward-looking
statements" within the meaning of the Private Securities Litigation Reform
Act of 1995. Statements that are not historical in nature and which may be
identified by the use of words like "expects," "assumes," "projects,"
"anticipates," "estimates," "we believe," "could be" and other words of
similar meaning, are forward-looking statements. These statements are
based on management's expectations and assumptions and are subject to risks
and uncertainties that may cause actual results to differ materially from
those expressed. These risks and uncertainties include those risk factors
discussed in Part I, "Item 1A. Risk Factors" of our Annual Report on Form
10-K for the fiscal year ended June 30, 2007 (the "2007 Annual Report").
Any forward-looking statements are qualified in their entirety by reference
to the factors discussed in the 2007 Annual Report. These risks include:
the ability of Broadridge to develop brand recognition and its reputation
with its clients and employees following its separation from Automatic Data
Processing, Inc., ("ADP") in March 2007; Broadridge's success in obtaining,
retaining and selling additional services to clients; the pricing of
Broadridge's products and services; the incurrence of additional costs
attributable to Broadridge's operations as a stand-alone public company;
Broadridge's ability to continue to obtain data center services from its
former parent company, ADP, as well as to obtain transitional services from
ADP for up to one year from the date of Broadridge's March 2007 spin-off
from ADP; changes in laws affecting the investor communications services
provided by Broadridge; changes in laws regulating registered clearing
agencies and broker-dealers; Broadridge's debt levels and financing costs,
including the impact of its credit ratings on such costs; financial market
activity; changes in technology; availability of skilled technical
employees; the impact of new acquisitions and divestitures; competitive
conditions; and overall market and economic conditions.
Broadridge disclaims any obligation to update any forward-looking
statements, whether as a result of new information, future events or
otherwise.
About XBRL
XBRL, eXtensible Business Reporting Language, is a language for the
electronic communication of business and financial data. It provides
benefits in the preparation, analysis and communication of business
information. It offers cost savings, greater efficiency and improved
accuracy and reliability to all those involved in supplying or using
financial data. Companies can use XBRL to minimize costs and streamline
their processes for collecting and reporting financial information.
Consumers of financial data, including investors, analysts, financial
institutions and regulators, can receive, find, compare and analyze data
much more rapidly and efficiently if it is in XBRL format. For more
information about XBRL, please see www.xbrl.org.
Press Contact:
Tony DeMeoBroadridge Financial Solutions, Inc.
One Park Avenue
New York, NY 10016
212-918-6919
Email Contact