/EINPresswire.com/ -- FAIRFAX, VA -- (Marketwired) -- 03/30/16 -- Information Analysis Incorporated. (OTC PINK: IAIC) today reported results for the year ended December 31, 2015. Revenues were up 7% to $6,214,000, compared to revenues of $5,784,000 for the same period in 2014. The information technology services company reported net income of $78,000, or $0.01 per share basic and diluted, compared to a net loss of $30,000, or $(0.00) per share basic and diluted, reported for the comparable 2014 period.

"In 2015, the Company remained profitable in spite of government budget cuts. We are adding initiatives in new areas, such as cyber security, mobile applications, and more generalized user applications using Adobe products for our solutions sets in order to increase our business base," said Sandor Rosenberg, Chairman and Chief Executive Officer of IAI. "In addition, we are making investments in marketing and sales in both the commercial market as well as in the government sector. We have been aggressively pursuing new business opportunities through the bidding process for prime contracts and teaming with our partners."

"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 product and services company. The Company is a web application and e-business solutions provider, as well as a software conversion specialist, modernizing legacy systems and extending their reach to the internet and more modern platforms.

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, 2015 and in other filings with the Securities and Exchange Commission.

                     Information Analysis Incorporated
                          Statements of Operations

                                                    Year ended December 31,
(in thousands, except per share data; audited)          2015        2014
                                                    ----------- -----------
Revenue:
  Professional fees                                 $     4,659 $     3,707
  Software sales                                          1,556       2,077
                                                    ----------- -----------
  Total revenue                                           6,215       5,784
Cost of goods sold and services provided:
  Cost of professional fees                               2,547       2,178
  Cost of software sales                                  1,295       1,218
                                                    ----------- -----------
  Total cost of sales                                     3,842       3,396
                                                    ----------- -----------
Gross margin                                              2,373       2,388
Selling, general and administrative expense               1,749       1,688
Commissions expense                                         556         740
                                                    ----------- -----------
Income (loss) from operations                                68         (40)
Other income, net                                            10          10
                                                    ----------- -----------
Income (loss) before income taxes                            78         (30)
                                                    ----------- -----------
Net income (loss)                                   $        78 $       (30)
                                                    =========== ===========

Earnings (loss) per share:
  Basic                                             $      0.01 $     (0.00)
  Diluted                                           $      0.01 $     (0.00)

Shares used in calculating earnings (loss) per
 share:
  Basic                                              11,201,760  11,201,760
  Diluted                                            11,310,387  11,201,760

                     Information Analysis Incorporated
                               Balance Sheets

                                                      As of        As of
                                                     December     December
                                                     31, 2015     31, 2014
(in thousands)                                      (audited)    (audited)
                                                   -----------  -----------
ASSETS
Current assets:
  Cash and cash equivalents                        $     2,168  $     2,450
  Accounts receivable, net                               1,298          971
  Prepaid expenses                                         603          760
  Note receivable, current                                   -            4
                                                   -----------  -----------
    Total current assets                                 4,069        4,185

Fixed assets, net                                           43           54
Note receivable, long-term                                   -            5
Other assets                                                 6            6
                                                   -----------  -----------
    Total assets                                   $     4,118  $     4,250
                                                   ===========  ===========

LIABILITIES & STOCKHOLDERS' EQUITY
Current liabilities:
  Accounts payable                                 $        65  $        32
  Commissions payable                                      959        1,017
  Deferred revenues                                        581          738
  Accrued payroll and related liabilities                  261          256
  Other accrued liabilities                                 75          116
                                                   -----------  -----------
      Total liabilities                                  1,941        2,159
                                                   -----------  -----------

Common stock, par value $0.01, 30,000,000 shares
 authorized; 12,844,376 shares issued,
 11,201,760shares outstanding as of December 31,
 2015 and 2014, respectively                               128          128
Additional paid in capital                              14,622       14,614
Accumulated deficit                                    (11,643)     (11,721)
Less treasury stock; 1,642,616 shares at cost             (930)        (930)
                                                   -----------  -----------
    Total stockholders' equity                           2,177        2,091
                                                   -----------  -----------
    Total liabilities and stockholders' equity     $     4,118  $     4,250
                                                   ===========  ===========

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

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