Third Quarter 2009 Revenue of $271,000, Up 99% from Second Quarter 2009 Revenue of $136,000
PALM CITY, Fla., Nov. 17 /PRNewswire-FirstCall/ -- Information Systems Associates, Inc. (OTC Bulletin Board: IOSA), a datacenter optimization software, services and solutions company, today announces revenues of $271,000 for its third quarter ended September 30, 2009. Sequential quarter-to-quarter revenue growth was up 99% for the quarter ended September 30, 2009 compared to net revenues of $136,000 for the quarter ended June 30, 2009.
Third Quarter 2009 Highlights
- Revenue was $271,000 for the quarter ending September 30, 2009.
- Gross profit was $270,000 for the quarter ending September 30, 2009.
- The Company completed the development of its proprietary OSPI Version 2.0 and began beta testing with a Fortune 100 company.
Joe Coschera, Information Systems Associates' CEO, stated: "We are very pleased to announce a significant growth in revenue over our prior quarter. IT spending seems to be picking up following the major slowdown experienced over the past twelve months. The recovery comes at a perfect time for us with the completion of our beta testing on OSPI Version 2.0 in November of 2009 and its expected launch in December 2009."
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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®) 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-K for the year ended December 31, 2008 and the Form 10-Q 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.
Gerald Kieft The WSR Group 772-219-7525 (tel) 772-219-3579 (fax)