-----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, A0HEhNEv3QpB+YnTvncHfvpUmwdtcW9lEnwstOS6R2pbgaclq94Txmm5jQQzJ9Ke iC6YlGCiboXxW4Ajgu9jhw== 0001181431-10-041530.txt : 20100812 0001181431-10-041530.hdr.sgml : 20100812 20100812083404 ACCESSION NUMBER: 0001181431-10-041530 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100811 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100812 DATE AS OF CHANGE: 20100812 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: 101009524 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 rrd283559.htm 2Q-2010 8-K 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):  08/11/2010
 
INFORMATION ANALYSIS INCORPORATED
(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 August 11, 2010, Information Analysis Incorporated issued a press release reporting earnings and other financial results for its second quarter. A copy of this press release, captioned "Information Analysis Inc. Reports Stronger Sales and Profits for the Second Quarter", 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 August 11, 2010, captioned: "Information Analysis Inc. Reports Stronger Sales and Profits for the Second 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: August 12, 2010
     
By:
 
/s/    Matthew T. Sands

               
Matthew T. Sands
               
Controller
 
 


 

EXHIBIT INDEX
 
Exhibit No.

  
Description

EX-99.1
  
Press Release dated August 11, 2010
EX-99.1 2 rrd283559_32724.htm PRESS RELEASE DATED AUGUST 11, 2010 DC9180.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: August 11, 2010 at 9:00 a.m.

Information Analysis Inc. Reports Stronger Sales and Profits for the Second Quarter

FAIRFAX, VIRGINIA – Information Analysis Inc. (OTCBB: IAIC) reported results for the second quarter ended June 30, 2010. Revenues were $1,688,000 compared to $1,404,000 reported in 2009’s second quarter. The Company reported net income of $78,000, or $0.01 per share, compared to net income of $6,000, or $0.00 per share in 2009’s second quarter. IAI had revenue of $3,703,000, compared to $2,799,000 reported for six months ending June 30, 2009. Net income for the first six months of fiscal 2010 was $182,000, or $0.02 per share, versus a net loss of $56,000, or ($0.01) per share, in the comparable 2009 period.

     The Company’s revenue and profits continue to show profitable improvement over last year’s results,” 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. These include the failure to obtain sufficient contracts, and to profitably complete those contracts. 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.

-- more --


Information Analysis Reports Second Quarter Results             
August 11, 2010                 
Page 2 of 4                 
 
 
Information Analysis Incorporated         
Condensed Income Statements         
 
    Three months ended June 30, 
(in thousands, except per share data; unaudited)        2010        2009 
Sales:                 
           Professional fees    $ 1,115    $ 1,198 
           Software sales        573        206 


           Total sales    1,688        1,404 
Cost of goods sold and services provided:                 
           Cost of professional fees        665        748 
           Cost of software sales        460        152 


           Total cost of sales    1,125        900 


Gross margin        563        504 
Operating expenses:                 
           Selling, general and administrative        487        500 


Operating income        76        4 
Other income (expense)        2        2 


Income before income taxes        78        6 
Provision for income taxes        --        -- 


Net income               $ 78             $ 6 


Comprehensive Income               $ 78             $ 6 


 
Net income per share:                 
           Basic and diluted        $ 0.01             $ 0.00 


 
Shares used in calculating earnings per share:                 
           Basic    11,196,760    11,196,760 
           Diluted    11,222,863    11,207,620 

-- more --


Information Analysis Reports Second Quarter Results             
August 11, 2010                 
Page 3 of 4                 
 
 
 
Information Analysis Incorporated         
Condensed Income Statements         
 
    Six months ended June 30, 
(in thousands, except per share data; unaudited)        2010        2009 
Sales:                 
           Professional fees           $ 2,628           $ 2,299 
           Software sales        1,075        500 


           Total sales        3,703        2,799 
Cost of goods sold and services provided:                 
           Cost of professional fees        1,456        1,544 
           Cost of software sales        882        351 


           Total cost of sales        2,338        1,895 


Gross margin        1,365        904 
Operating expenses:                 
           Selling, general and administrative        1,188        967 


Operating income        177        (63) 
Other income (expense)        5        7 


Income before income taxes        182        (56) 
Provision for income taxes        --        -- 


Net income           $ 182           ($ 56) 


Comprehensive Income           $ 182           ($ 56) 


 
Net income per share:                 
           Basic and diluted           $ 0.02           ($ 0.01) 


 
Shares used in calculating earnings per share:                 
           Basic    11,196,760    11,196,760 
           Diluted    11,215,187    11,196,760 

-- more --


Information Analysis Reports Second Quarter Results                 
August 11, 2010                 
Page 4 of 4                 
 
 
 
Information Analysis Incorporated         
Condensed Balance Sheets         
 
        As of        As of 
    June 30, 2010    December 31, 2009 
     (unaudited)               (audited) 
ASSETS                 
Current assets:                 
     Cash and cash equivalents           $ 1,932                 $ 1,479 
     Accounts receivable, net        850        940 
     Prepaid expenses        540        689 


             Total current assets        3,322        3,108 
 
Fixed assets, net        38        36 
Other assets        6        6 


             Total assets           $ 3,366                 $ 3,150 


 
 
LIABILITIES & STOCKHOLDERS' EQUITY                 
Current liabilities:                 
     Accounts payable           $ 63                 $ 89 
     Deferred revenues        680        779 
     Accrued payroll and related liabilities        246        255 
     Other accrued liabilities        467        307 


             Total liabilities        1,456        1,430 
 
Common stock, par value $0.01, 30,000,000 shares authorized;                 
     12,839,376 shares issued, 11,196,760 outstanding at                 
     June 30, 2010, and at December 31, 2009        128        128 
Additional paid in capital        14,562        14,554 
Accumulated deficit       (11,850)               (12,032) 
Accumulated other comprehensive loss        --        -- 
Less treasury stock; 1,642,616 shares at cost at                 
       June 30, 2010, and at December 31, 2009        (930)        (930) 


             Total stockholders' equity        1,910        1,720 


Total liabilities and stockholders' equity           $ 3,366                 $ 3,150 




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