Information Systems Associates Pre-Announces First Quarter 2010 Revenue
First Quarter 2010 Revenue Was $249,000 Up 25% Compared to First Quarter 2009 Revenue of $199,000
PALM CITY, Fla., April 13, 2010 (GLOBE NEWSWIRE) -- Information Systems Associates, Inc. (OTCBB:IOSA), a datacenter optimization software, services and solutions company, today pre-announces revenues of $249,000 for its first quarter ended March 31, 2010, an increase of 25% from first quarter 2009 revenue of $199,000. The Company also announces that during the quarter, it had executed a corporate restructuring which resulted in increased operating efficiencies and a $75,000 reduction in its fixed quarterly expenses.
First Quarter 2010 Highlights
- Revenue was $249,000 for the quarter ending March 31, 2010.
- Corporate restructuring resulted in a $75,000 reduction in fixed quarterly expenses.
- The Company began and/or completed multiple projects for six Fortune 500 companies.
Joe Coschera, Information Systems Associates' CEO, stated, "After reviewing 2009 results we felt it was necessary to evaluate our human resource needs and align them with our vision for the future. The result was a significant decrease in fixed operating expenses and a clear focus on profitable growth. We now feel that we are better positioned to grow our Company to the next level."
Second Quarter Activity
- Entered the evaluation stage with a Fortune 1000 company regarding licensing OSPI units.
- Entered the proposal stage with a Fortune 100 company for data collection and OSPI licensing.
- In discussions with a strategic partner to expand service offerings to its domestic and international clients. This relationship is expected to accelerate growth beginning in the third quarter of 2010.
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About Information Systems Associates
Information Systems Associates, Inc. (IOSA) is a leading provider of data center optimization software, services and solutions based out of Palm City, FL. Its core technology OSPI (On Site Physical Inventory(R)) provides a tool set allowing customers to create a highly accurate data set of their current IT assets. This information can be utilized to enable businesses to make meaningful decisions on Data Center Management that lead to optimization of resources, cost reductions and significant ROI.
For more information, please visit: www.isa-inc.net
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Additionally, words such as "seek," "intend," "believe," "plan," "estimate," "expect," "anticipate" "project" and other similar expressions are forward-looking statements within the meaning of the Act. Some or all of the events or results anticipated by these forward- looking statements may not occur. Factors that could cause or contribute to such differences include the ability of Information System Associates to attract customers for its services, and continue developing innovative datacenter optimization solutions. Further information on Information Systems Associates' risk factors is contained in its filings with the Securities and Exchange Commission, including the Form 10-KSB for the year ended December 31, 2008 and the Form 10-QSB filed September 9, 2009. Information Systems Associates does not undertake any duty nor does it intend to update the results of these forward-looking statements.
The WSR Group
Released April 13, 2010