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Information Analysis Q1 loss widens YOY

Information Analysis Inc. said its first-quarter normalized net income was a loss of $131,420, compared with a loss of $53,020 in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin dropped to negative 9.0% from negative 3.6% in the year-earlier period.

Total revenue totaled $1.5 million, compared with $1.5 million in the year-earlier period, and total operating expenses rose 7.5% from the prior-year period to $1.7 million from $1.6 million.

Reported net income came to a loss of $224,040, or a loss of 2 cents per share, compared to a loss of $112,020, or a loss of 1 cents per share, in the prior-year period.