{"id":382080,"date":"2020-11-16T13:03:23","date_gmt":"2020-11-16T18:03:23","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=382080"},"modified":"2020-11-16T13:03:23","modified_gmt":"2020-11-16T18:03:23","slug":"information-analysis-incorporated-returns-to-profitability-with-momentum","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/information-analysis-incorporated-returns-to-profitability-with-momentum\/","title":{"rendered":"Information Analysis Incorporated Returns to Profitability with Momentum"},"content":{"rendered":"
\n

FAIRFAX, Va., Nov. 16, 2020 (GLOBE NEWSWIRE) — Information Analysis Incorporated (IAIC:OTC MARKETS) today reported results for the three months and nine months ended September 30, 2020.\u00a0<\/p>\n

The information technology services company\u2019s 2020 third quarter revenues were $3,923,000, an increase of 23% over its 2019 third quarter revenues of $3,183,000. IAI\u2019s net income was $215,000 versus a net loss of ($179,000) for the same period in 2019. Basic and diluted earnings per share were $0.02 for the quarter versus basic and diluted net loss per share of ($0.02) in 2019.<\/p>\n

For the nine months ended September 30, 2020, revenues were $10,804,000, an increase of $2,738,000, or 34%, over its 2019 nine months revenues of $8,066,000. IAI produced net income of $54,000 in 2020 versus a net loss of ($579,000) in 2019. Basic and diluted earnings per share were $0.00 for the nine months versus basic and diluted net loss per share of ($0.05) in 2019.<\/p>\n

Sandor Rosenberg, President and Chief Executive Officer of IAI, credits Stan Reese, Senior Vice President and Chief Operating Officer, for the 2020 turnaround due to the new contracts he has won and the excellent team he has assembled.<\/p>\n

\u201cIn the third quarter we completely reversed our losses from the first half of the year,\u201d Reese said. \u201cSince May, we have increased our billable workforce by over 80% under new long-term, large-scale contracts. We anticipate that these contracts will provide a solid foundation of revenue and profitability for the foreseeable future. This has allowed us to shift our focus from maintaining operations to meaningful growth for 2021 and beyond.<\/p>\n

\u201cOur capabilities when it comes to modernizing legacy systems such as COBOL-based systems, no matter how large, we believe are second to none. We now turn our attention to investments in corporate infrastructure and business development. Pursuit of strategic partnerships with synergistic emerging technology companies, as well as merger & acquisition opportunities, are also part of our plans.\u201d<\/p>\n

Reese further commented, \u201cWhile COBOL-related legacy system modernization is expected to remain a core competency, we recognize that expanding our service and product offerings is necessary to carry us through the new decade. We believe that our extensive roster of satisfied clients could prove appealing to prospective partners in high-growth fields such as cloud services and cyber security. We remain excited about the Company\u2019s future for the long-term benefit of our shareholders.\u201d<\/p>\n

\n About Information Analysis Incorporated<\/strong>
\n
Information Analysis Incorporated (www.infoa.com), headquartered in Fairfax, Virginia, is an information technology product and services company. The Company is a software conversion specialist, modernizing legacy systems and extending their reach to the cloud and more modern platforms.<\/p>\n

\n Additional information for investors <\/strong>
\n
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, 2019 and in other filings with the Securities and Exchange Commission.<\/p>\n\n\n\n\n
For additional information contact:<\/td>\n<\/tr>\n
\u00a0<\/td>\nMatt Sands<\/td>\n<\/tr>\n
\u00a0<\/td>\n(703) 293-7925<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Information Analysis Incorporated<\/strong>\n <\/td>\n<\/tr>\n
\n Statements of Operations<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nThree Months Ended September 30,<\/td>\n<\/tr>\n
\n (in thousands, except per share data; unaudited)<\/em>\n <\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2019<\/td>\n\u00a0<\/td>\n<\/tr>\n
Revenues:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Professional fees<\/td>\n$<\/td>\n1,581<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n889<\/td>\n\u00a0<\/td>\n<\/tr>\n
Software sales<\/td>\n\u00a0<\/td>\n2,342<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,294<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total revenues<\/td>\n\u00a0<\/td>\n3,923<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3,183<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cost of\u00a0revenues<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cost of professional fees<\/td>\n\u00a0<\/td>\n1,051<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n564<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cost of software sales<\/td>\n\u00a0<\/td>\n2,258<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,235<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total cost of\u00a0revenues<\/td>\n\u00a0<\/td>\n3,309<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,799<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Gross Profit<\/td>\n\u00a0<\/td>\n614<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n384<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Selling, general and administrative expense<\/td>\n\u00a0<\/td>\n343<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n468<\/td>\n\u00a0<\/td>\n<\/tr>\n
Commission expense<\/td>\n\u00a0<\/td>\n56<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n98<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income (loss) from operations<\/td>\n\u00a0<\/td>\n215<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(182<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other Income, net<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n3<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income before provision for income taxes<\/td>\n\u00a0<\/td>\n215<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(179<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income (loss)<\/td>\n$<\/td>\n215<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(179<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income (loss) per share:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic<\/td>\n$<\/td>\n0.02<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.02<\/td>\n)<\/td>\n<\/tr>\n
Diluted<\/td>\n$<\/td>\n0.02<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.02<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Weighted Average Common Shares Outstanding:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic<\/td>\n\u00a0<\/td>\n11,211,760<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,211,760<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted<\/td>\n\u00a0<\/td>\n11,837,427<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,211,760<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n

\n \n <\/p>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Information Analysis Incorporated<\/strong>\n <\/td>\n<\/tr>\n
\n Statements of Operations<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nNine Months Ended September 30,<\/td>\n<\/tr>\n
\n (in thousands, except per share data; unaudited)<\/em>\n <\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2019<\/td>\n\u00a0<\/td>\n<\/tr>\n
Revenues:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Professional fees<\/td>\n$<\/td>\n3,354<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,412<\/td>\n\u00a0<\/td>\n<\/tr>\n
Software sales<\/td>\n\u00a0<\/td>\n7,450<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,654<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total\u00a0revenues<\/td>\n\u00a0<\/td>\n10,804<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,066<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cost of revenues<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cost of professional fees<\/td>\n\u00a0<\/td>\n2,233<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,445<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cost of software sales<\/td>\n\u00a0<\/td>\n7,289<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,557<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total cost revenues<\/td>\n\u00a0<\/td>\n9,522<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7,002<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Gross Profit<\/td>\n\u00a0<\/td>\n1,282<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,064<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Selling, general and administrative expense<\/td>\n\u00a0<\/td>\n1,050<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,482<\/td>\n\u00a0<\/td>\n<\/tr>\n
Commission expense<\/td>\n\u00a0<\/td>\n179<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n169<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income (loss) from operations<\/td>\n\u00a0<\/td>\n53<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(587<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other income<\/td>\n\u00a0<\/td>\n1<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income (loss) before income taxes<\/td>\n\u00a0<\/td>\n54<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(579<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net Income (loss)<\/td>\n$<\/td>\n54<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(579<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income (loss) per share:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic<\/td>\n$<\/td>\n0.00<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.05<\/td>\n)<\/td>\n<\/tr>\n
Diluted<\/td>\n$<\/td>\n0.00<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.05<\/td>\n)<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Weighted average common shares outstanding:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic<\/td>\n\u00a0<\/td>\n11,211,760<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,207,145<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted<\/td>\n\u00a0<\/td>\n11,810,392<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,207,145<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n

\n \n <\/p>\n

\n \n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n Information Analysis Incorporated<\/strong>\n <\/td>\n<\/tr>\n
\n Balance Sheets<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\nAs of<\/td>\n\u00a0<\/td>\nAs of<\/td>\n<\/tr>\n
\u00a0<\/td>\nSeptember 30, 2020<\/td>\n\u00a0<\/td>\nDecember 31, 2019<\/td>\n<\/tr>\n
\n (in thousands)<\/em>
\n \n <\/td>\n		\n (unaudited) <\/em>\n <\/td>\n\u00a0<\/td>\n\n (unaudited) <\/em>\n <\/td>\n<\/tr>\n
ASSETS<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current Assets:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash and cash equivalents<\/td>\n$<\/td>\n1,469<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,039<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accounts receivable, net<\/td>\n\u00a0<\/td>\n1,600<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n669<\/td>\n\u00a0<\/td>\n<\/tr>\n
Prepaid expenses<\/td>\n\u00a0<\/td>\n39<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n500<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total current assets<\/td>\n\u00a0<\/td>\n3,108<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,208<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Contract assets<\/td>\n\u00a0<\/td>\n89<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n<\/tr>\n
Right-of-use operating lease asset<\/td>\n\u00a0<\/td>\n77<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n150<\/td>\n\u00a0<\/td>\n<\/tr>\n
Fixed assets, net<\/td>\n\u00a0<\/td>\n62<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other assets<\/td>\n\u00a0<\/td>\n6<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total assets<\/td>\n$<\/td>\n3,342<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,374<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
LIABILITIES & STOCKHOLDERS’ EQUITY<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current liabilities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accounts payable<\/td>\n$<\/td>\n533<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n216<\/td>\n\u00a0<\/td>\n<\/tr>\n
Contract liabilities<\/td>\n\u00a0<\/td>\n332<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n464<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accrued payroll and related liabilities<\/td>\n\u00a0<\/td>\n316<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n220<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other accrued liabilities<\/td>\n\u00a0<\/td>\n296<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n54<\/td>\n\u00a0<\/td>\n<\/tr>\n
Commission payable<\/td>\n\u00a0<\/td>\n119<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n108<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating lease liability – current<\/td>\n\u00a0<\/td>\n73<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n104<\/td>\n\u00a0<\/td>\n<\/tr>\n
Note payable- current<\/td>\n\u00a0<\/td>\n37<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total current liabilities<\/td>\n\u00a0<\/td>\n1,706<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,166<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Note payable – non-current<\/td>\n\u00a0<\/td>\n413<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating lease liability – non-current<\/td>\n\u00a0<\/td>\n–<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n46<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total liabilities<\/td>\n\u00a0<\/td>\n2,119<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,212<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Common stock, par value $0.01, 30,000,000 shares authorized;<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
12,854,376 shares issued, 11,211,760 shares outstanding<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
as of September 30, 2020, and December 31, 2019<\/td>\n\u00a0<\/td>\n128<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n128<\/td>\n\u00a0<\/td>\n<\/tr>\n
Additional paid-in capital<\/td>\n\u00a0<\/td>\n14,690<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14,683<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accumulated deficit<\/td>\n\u00a0<\/td>\n(12,665<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(12,719<\/td>\n)<\/td>\n<\/tr>\n
Less: treasury stock (1,642,616 shares at cost)<\/td>\n\u00a0<\/td>\n(930<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(930<\/td>\n)<\/td>\n<\/tr>\n
Total stockholders’ equity<\/td>\n\u00a0<\/td>\n1,223<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,162<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total liabilities and stockholders’ equity<\/td>\n$<\/td>\n3,342<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,374<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

FAIRFAX, Va., Nov. 16, 2020 (GLOBE NEWSWIRE) — Information Analysis Incorporated (IAIC:OTC MARKETS) today reported results for the three months and nine months ended September 30, 2020.\u00a0 The information technology services company\u2019s 2020 third quarter revenues were $3,923,000, an increase of 23% over its 2019 third quarter revenues of $3,183,000. IAI\u2019s net income was $215,000 versus a net loss of ($179,000) for the same period in 2019. Basic and diluted earnings per share were $0.02 for the quarter versus basic and diluted net loss per share of ($0.02) in 2019. For the nine months ended September 30, 2020, revenues were $10,804,000, an increase of $2,738,000, or 34%, over its 2019 nine months revenues of $8,066,000. IAI produced net income of … <\/p>\n

Continue reading “Information Analysis Incorporated Returns to Profitability with Momentum”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-382080","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nInformation Analysis Incorporated Returns to Profitability with Momentum - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/information-analysis-incorporated-returns-to-profitability-with-momentum\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Information Analysis Incorporated Returns to Profitability with Momentum - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"FAIRFAX, Va., Nov. 16, 2020 (GLOBE NEWSWIRE) — Information Analysis Incorporated (IAIC:OTC MARKETS) today reported results for the three months and nine months ended September 30, 2020.\u00a0 The information technology services company\u2019s 2020 third quarter revenues were $3,923,000, an increase of 23% over its 2019 third quarter revenues of $3,183,000. IAI\u2019s net income was $215,000 versus a net loss of ($179,000) for the same period in 2019. Basic and diluted earnings per share were $0.02 for the quarter versus basic and diluted net loss per share of ($0.02) in 2019. For the nine months ended September 30, 2020, revenues were $10,804,000, an increase of $2,738,000, or 34%, over its 2019 nine months revenues of $8,066,000. 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