Revenue during the quarter grew 6.11 percent to $16.06 million from $15.14 million in the previous year period. Operating margin for the quarter stood at negative 9.13 percent as compared to a positive 4.90 percent for the previous year period.

Operating loss for the quarter was $1.47 million, compared with an operating income of $0.74 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at negative $0.38 million compared with $1.66 million in the prior year period. At the same time, adjusted EBITDA margin stood at negative 2.39 percent for the quarter compared to 10.97 percent in the last year period.

Jack Abuhoff, Chairman and CEO, said, “"Revenue for our Digital Data Solutions (formerly Content Services) segment was $12.1 million compared to $13.2 million in the second quarter, primarily as a result of a key client for our eBook services reducing its requirements for certain eBook services and pricing concessions extended to another key client. In our IADS Synodex business, we commenced production for an additional insurance company. Revenue for the entire segment was $1 million compared to $1,170,000 last quarter primarily on account of a $160,000 decrease in docGenix revenue. Revenue in our Media Intelligence Solutions (MIS) segment was $3 million in the third quarter, of which $1.8 million is attributable to Agility."

Debt comes down 
INNODATA INC. has recorded a decline in total debt over the last one year. It stood at $5.47 million as on Sep. 30, 2016, down 9.88 percent or $0.60 million from $6.06 million on Sep. 30, 2015. Total debt was 10.74 percent of total assets as on Sep. 30, 2016, compared with 11.72 percent on Sep. 30, 2015. Debt to equity ratio was almost stable at 0.16 as on Sep. 30, 2016, when compared with the last year.