-----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, WQcsfJZKNqUgxICFlLj+5VaecuD6sM8qFOSgYEZHI9YOzJQvnZ40JIeAi7wDZjOp OqVaZFs0NVx97nXVJg8sWw== 0001181431-10-027528.txt : 20100518 0001181431-10-027528.hdr.sgml : 20100518 20100518110313 ACCESSION NUMBER: 0001181431-10-027528 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100513 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100518 DATE AS OF CHANGE: 20100518 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: 10841449 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 rrd276143.htm PRESS RELEASE 2010 1Q 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):  05/13/2010
 
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 May 13, 2010, Information Analysis Incorporated issued a press release reporting earnings and other financial results for its first quarter. A copy of this press release, captioned "Information Analysis, Inc. Reports Increased Sales and Profits for First Quarter", is attached as exhibit 99 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 May 13, 2010, captioned: "Information Analysis, Inc. Reports Increased Sales and Profits for First Quarter"
 

 

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: May 18, 2010
     
By:
 
/s/    Matthew T. Sands
               
Matthew T. Sands
               
Controleer
 
 

 

EXHIBIT INDEX
 
Exhibit No.
  
Description
EX-99.
  
Press release dated May 13, 2010
EX-99. 2 rrd276143_32181.htm PRESS RELEASE DATED MAY 13, 2010 DC8849.pdf -- Converted by SEC Publisher 4.2, created by BCL Technologies Inc., for SEC Filing

Exhibit 99

For additional information contact:
Richard S. DeRose (703) 293-7901
For release:
May 13, 2010 at 9:00 a.m.

Information Analysis, Inc. Reports Increased Sales and Profits for First Quarter

FAIRFAX, VIRGINIA – Information Analysis, Inc. (OTCBB:IAIC) today reported results for the first fiscal quarter ended March 31, 2010. Revenues were $2,016,000, compared to $1,394,000 reported in 2009’s first quarter. The Company reported net income of $104,000, or $0.01 per share, compared to a net loss of $62,000, or $(0.01) per share, in the first quarter 2009.

     “The Company’s revenue and profits have improved in the first quarter in comparison to the first quarter of 2009,” Sandor Rosenberg, Chairman and Chief Executive Officer of IAI said. “We have been aggressively pursuing new business opportunities to increase our order backlog, which should improve revenue results, not only for this year but for future years. “We are actively pursuing the conversion and system modernization business as well as Adobe and Web applications.”

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-KSB 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 First Quarter Results             
May 13, 2010                 
Page 2 of 3                 
Information Analysis Incorporated         
Condensed Income Statements         
 
    Three months ended March 31, 
(in thousands, except per share data; unaudited)        2010        2009 
Net revenue:                 
           Professional fees                   $    1,513    $    1,101 
           Software sales        502        293 
           Total revenue        2,015        1,394 
Cost of goods sold and services provided:                 
           Cost of professional fees        790        796 
           Cost of software sales        422        198 
           Total cost of sales        1,212        994 
Gross margin        803        400 
Operating expenses:                 
           Selling, general and administrative        701        466 
Operating income (loss)        102        (66) 
Other income        2        4 
Income loss before income taxes        104        (62) 
Provision for income taxes        --        -- 
Net income (loss)                   $    104    $    (62) 
Net income (loss) per 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                   11,202,893    11,196,760 

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Information Analysis Reports First Quarter Results                 
May 13, 2010                 
Page 3 of 3                 
Information Analysis Incorporated         
Balance Sheets             
 
        As of:        As of: 
    March 31, 2010    December 31, 2009 
(in thousands, unaudited)                 
ASSETS                 
Current assets:                 
     Cash and cash equivalents    $    1,379     $    1,479 
     Accounts receivable, net        1,794        940 
     Prepaid expenses        939        689 
             Total current assets        4,112        3,108 
 
Fixed assets, net        36        36 
Other assets        6        6 
Total assets    $    4,154     $    3,150 
 
LIABILITIES & STOCKHOLDERS' EQUITY                 
Current liabilities:                 
     Accounts payable    $    505     $    89 
     Deferred revenue        1,114        779 
     Other accrued liabilities        448        307 
     Accrued payroll and related liabilities        257        255 
             Total liabilities        2,324        1,430 
 
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        14,560        14,554 
Accumulated deficit        (11,928)        (12,032) 
Less treasury stock; 1,642,616 shares at cost        (930)        (930) 
             Total stockholders' equity        1,830        1,720 
Total liabilities and stockholders' equity    $    4,154     $    3,150 

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