Message #9 From:
NewsBot Date: January 22, 2008 09:56:15 PM
Information Analysis Inc. Reports Third Quarter Results
Information Analysis Inc. (OTCBB:IAIC) today reported results for its
third fiscal quarter ended September 30, 2007. Revenues were $2,635,000,
compared to $2,574,000 reported in the third quarter 2006. The
information technology services company reported net income of $95,000,
or $0.01 per share basic and diluted, compared to net income of $157,000
or $0.01 per share basic and diluted, in the third quarter 2006.
For the nine months ended September 30, 2007, IAI’s
revenues were $7,797,000, compared to revenues of $7,457,000 for the
same period in 2006. The Company reported net income of $207,000, or
$0.02 per share basic and diluted, compared to net income of $396,000,
or $0.04 per share basic and $0.03 per share diluted, reported for the
comparable 2006 period.
“We have begun to increase our investment in
sales and marketing efforts starting in the fourth quarter to improve
our rate of growth and profitability,” said
Sandor Rosenberg, Chairman and Chief Executive Officer of IAI. “We
still have a number of bid opportunities outstanding for new business
and additional add-on business to existing contracts, which are expected
to materialize during future quarters.
“We continue to pursue merger and acquisition
opportunities.”
About Information Analysis Incorporated
Information Analysis Incorporated (www.infoa.com),
headquartered in Fairfax, Virginia, is an information technology
services company. The Company is a web solution provider and software
conversion specialist, modernizing legacy systems and extending their
reach to the internet world.
This release may contain forward-looking statements regarding the
Company's business, customer prospects, or other factors that may affect
future earnings or financial results. Such statements involve risks and
uncertainties which could cause actual results to vary materially from
those expressed in the forward-looking statements. Investors should read
and understand the risk factors detailed in the Company's 10-KSB for the
fiscal year ended December 31, 2006 and in other filings with the
Securities and Exchange Commission.
