-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, BgZgv6UWpos0BDmshP+D3/+9oVv4FSau0NhS4hYFNgklucUKWfi6YvGue27AIfbB 0xUIj5rcQ+uVumNukGVELw== 0001181431-10-018608.txt : 20100330 0001181431-10-018608.hdr.sgml : 20100330 20100330112400 ACCESSION NUMBER: 0001181431-10-018608 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100330 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100330 DATE AS OF CHANGE: 20100330 FILER: COMPANY DATA: COMPANY CONFORMED NAME: INFORMATION ANALYSIS INC CENTRAL INDEX KEY: 0000803578 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 541167364 STATE OF INCORPORATION: VA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22405 FILM NUMBER: 10712671 BUSINESS ADDRESS: STREET 1: 11240 WAPLES MILL RD #400 CITY: FAIRFAX STATE: VA ZIP: 22030 BUSINESS PHONE: 7033833000 MAIL ADDRESS: STREET 1: 2222 GALLOWS ROAD STREET 2: SUITE 300 CITY: DUNN LORING STATE: VA ZIP: 22027 8-K 1 rrd271344.htm 8-K-2009-4Q Prepared By R.R. Donnelley Financial -- Form 8-K
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
Form 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported):  03/30/2010
 
INFORMATION ANALYSIS INC
(Exact name of registrant as specified in its charter)
 
Commission File Number:  000-22405
 
VA
  
54-1167364
(State or other jurisdiction of
  
(IRS Employer
incorporation)
  
Identification No.)
 
11240 Waples Mill Rd, Ste 201, Fairfax, VA 22030
(Address of principal executive offices, including zip code)
 
703-383-3000
(Registrant’s telephone number, including area code)
 
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[  ]   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 

 
Item 2.02.    Results of Operations and Financial Condition
 
On March 30, 2010, Information Analysis Incorporated issued a press release reporting earnings and other financial results for its fourth quarter. A copy of this press release, captioned "Information Analysis Inc. Reports Profitable Results for 2009", is attached as exhibit 99.1 to this Current Report on Form 8-K (the "8-K"). The information in this 8-K, including the exhibit, shall not be deemed filed for the purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
 
 
Item 9.01.    Financial Statements and Exhibits
 
Press Release dated March 30, 2010, captioned:
"Information Analysis Inc. Reports Profitable Results for 2009"
 

 

SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
           
INFORMATION ANALYSIS INCORPORATED
 
 
Date: March 30, 2010
     
By:
 
/s/    Matthew T. Sands
               
Matthew T. Sands
               
Controller
 
 

 

EXHIBIT INDEX
 
Exhibit No.
  
Description
EX-99.1
  
Press release dated March 30, 2010
EX-99.1 2 rrd271344_31635.htm PRESS RELEASE DATED MARCH 30, 2010 DC8602.pdf -- Converted by SEC Publisher 4.2, created by BCL Technologies Inc., for SEC Filing

Exhibit 99.1

For additional information contact:
Richard S. DeRose
(703) 293-7901

For release: March 30, 2010

Information Analysis Inc. Reports Profitable Results for 2009

FAIRFAX, VIRGINIA – Information Analysis Inc. (IAIC:OTCBB) today reported results for its fourth fiscal quarter ended December 31, 2009. Revenues were $1,924,000, compared to $1,651,000 reported in the fourth quarter 2008. The information technology services company reported net income of $98,000, or $0.01 per share basic and diluted, compared to a net loss of $102,000 or ($0.01) per share basic and diluted, in the fourth quarter 2008.

     For the year ended December 31, 2009, IAI’s revenues were $6,711,000, compared to revenues of $6,693,000 for the same period in 2008. The Company reported net income of $164,000, or $0.01 per share basic and diluted, compared to a net loss of $372,000, or ($0.03) per share basic and diluted, reported for the comparable 2008 period.

     “The Company increased revenue and profit in the fourth quarter and for the year in comparison to last year’s results. Additionally, as a result of increased sales efforts, our proposal volume has been steadily climbing,” said Sandor Rosenberg, Chairman and Chief Executive Officer of IAI. “We expect to turn this effort into better results for 2010.” “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.

Additional information for investors

     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, 2009 and in other filings with the Securities and Exchange Commission.

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Information Analysis Reports Profitable Results for 2009                 
March 30, 2010                 
Page 2 of 4                 
 
Information Analysis Incorporated                 
Statements of Operations                 
 
        Three months ended December 31,     
(in thousands, except per share data; unaudited)        2009        2008 
Revenue:                 
                 Professional fees    $    1,337    $    857 
                 Software sales        587        794 
 
                 Total revenue        1,924        1,651 
Cost of goods sold and services provided:                 
                 Cost of professional fees        806        642 
                 Cost of software sales        523        667 
 
                 Total cost of sales        1,329        1,309 
 
Gross margin        595        342 
Selling, general and administrative expense        499        450 
 
Income (loss) from operations        96        (108) 
Other income, net        2        6 
 
Income (loss) before income taxes        98        (102) 
Provision for income taxes        --        -- 
 
Net income (loss)    $    98    $    (102) 

Earnings (loss) per common share:                 
                 Basic    $    0.01    $    (0.01) 
                 Diluted    $    0.01    $    (0.01) 
 
Shares used in calculating earnings per share:                 
                 Basic        11,196,760        11,196,760 
                 Diluted        11,209,026        11,196,760 

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Information Analysis Reports Profitable Results for 2009                 
March 30, 2010                 
Page 3 of 4                 
 
Information Analysis Incorporated                 
Statements of Operations                 
 
        Year ended December 31,     
(in thousands, except per share data; audited)        2009        2008 
Revenue:                 
                 Professional fees    $    4,938    $    4,950 
                 Software sales        1,773        1,743 
 
                 Total revenue        6,711        6,693 
Cost of goods sold and services provided:                 
                 Cost of professional fees        3,102        3,669 
                 Cost of software sales        1,453        1,348 
 
                 Total cost of sales        4,555        5,017 
 
Gross margin        2,156        1,676 
Selling, general and administrative expense        2,002        2,069 
 
Income (loss) from operations        154        (393) 
Other income, net        10        21 
 
Income (loss) before income taxes        164        (372) 
Provision for income taxes        --        -- 
 
Net income (loss)    $    164    $    (372) 
 
 
Earnings per share:                 
                 Basic    $    0.01    $    (0.03) 
                 Diluted    $    0.01    $    (0.03) 
 
 
Shares used in calculating earnings per share:                 
                 Basic        11,196,760        11,196,760 
                 Diluted        11,207,905        11,196,760 

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Information Analysis Reports Profitable Results for 2009                 
March 30, 2010                 
Page 4 of 4                 
 
Information Analysis Incorporated                 
Balance Sheets                 
        As of        As of 
    December 31, 2009    December 31, 2008 
(in thousands)        (audited)        (audited) 
ASSETS                 
Current assets:                 
       Cash and cash equivalents    $    1,479    $    1,549 
       Accounts receivable, net        940        1,122 
       Prepaid expenses        689        470 
       Other assets        -        1 
 
                     Total current assets        3,108        3,142 
 
Fixed assets, net        36        56 
Other assets        6        6 
 
                     Total assets    $    3,150    $    3,204 
 
LIABILITIES & STOCKHOLDERS' EQUITY                 
Current liabilities:                 
       Accounts payable    $    89    $    802 
       Deferred revenues        779        603 
       Other accrued liabilities        307        31 
       Accrued payroll and related liabilities        255        214 
       Income taxes payable        --        2 
 
                     Total liabilities        1,430        1,652 
 
 
Common stock, par value $0.01, 30,000,000 shares authorized;                 
       12,839,376 shares issued, 11,196,760 outstanding        128        128 
Additional paid in capital        14,554        14,550 
Accumulated deficit        (12,032)        (12,196) 
Less treasury stock; 1,642,616 shares at cost        (930)        (930) 
 
                     Total stockholders' equity        1,720        1,552 
 
                     Total liabilities and stockholders' equity    $    3,150    $    3,204 

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