The Motley Fool Discussion Boards

Previous Page

Stocks I / Information Analysis Corporation

URL:  http://boards.fool.com/iaic-posts-profit-for-1q98-10158745.aspx

Subject:  IAIC posts profit for 1Q/98 Date:  4/20/1998  6:11 PM
Author:  deanfv Number:  11 of 26

Monday April 20, 4:00 pm Eastern Time

Company Press Release

SOURCE: Information Analysis Incorporated

Information Analysis Inc. Reports a Profit for FY1998 First
Quarter

Quarterly highlights: * Revenues of $4.2 million, up 167% vs. 1Q97 * Net
income of $60,000, or $0.01 per share, vs. year-earlier loss * Quarterly
bookings of $5.8 million * 17 Year 2000 remediation contracts currently in
house

FAIRFAX, Va., April 20 /PRNewswire/ -- Information Analysis Inc. (Nasdaq: IAIC - news) today reported
results for the first quarter of fiscal 1998 ended March 31, 1998. Revenues were $4,169,000, up 167% from
the $1,562,000 reported in 1997's first quarter. IAI reported net income of $60,000, or $0.01 per share,
compared to a loss of $371,000, or $0.07 per share in 1997's first quarter.

On a sequential basis, revenues improved 43% from the fourth quarter of 1997's $2,914,000, and the company
reversed a loss of $424,000, or $0.07 per share, reported in the prior quarter.

'We're very pleased by these results, and especially pleased that we achieved profitability in the quarter,' said
Sandor Rosenberg, IAI's Chairman and Chief Executive Officer. 'We began the quarter with six Year 2000
contracts in house; we closed the quarter with 17. We are assembling a blue- chip roster of customers for our
UNICAST/2000 software tool, including Canada Life Assurance (UK), Arbitron, Gulfstream International, and
the Bureau of National Affa