FAIRFAX, VA — (Marketwired) — 11/12/14 — Information Analysis Inc. (OTCBB: IAIC) today reported results for its third fiscal quarter ended September 30, 2014. Revenues were $1,357,000 compared to $3,218,000 reported in the third quarter 2013. The information technology services company reported net income of $28,000, or $0.00 per share basic and diluted, compared to net income of $108,000 or $0.01 per share basic and diluted, in the third quarter 2013.
For the nine months ended September 30, 2014, IAI–s revenues were $3,561,000 compared to revenues of $5,653,000 for the same period in 2013. The Company reported a net loss of $231,000 or ($0.02) per share basic and diluted, compared to a net loss of $80,000, or $ (0.01) per share basic and diluted, reported for the comparable 2013 period.
“The company has been aggressively pursuing new business opportunities through the bidding process for prime contracts and teaming with our partners. During the third quarter of this year the company was profitable, and in addition, was awarded a number of larger contracts. If the government elects to exercise all option periods in these contracts, the total value could reach in excess of $16 million in new business. These contracts are expected to improve our profitability going forward in the fourth quarter and over the next year,” said Sandor Rosenberg, Chairman and Chief Executive Officer of IAI.
“We continue to pursue merger and acquisition opportunities.”
Information Analysis Incorporated (), 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-K for the fiscal year ended December 31, 2013 and in other filings with the Securities and Exchange Commission.
For additional information contact:
Richard S. DeRose
(703) 293-7901
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