Stuart Florida, Aug. 15, 2013 (GLOBE NEWSWIRE) -- Information Systems Associates (OTCQB: IOSA), filed its second quarter Form 10-Q yesterday. The financials continue to show steady improvement over 2012 with revenues increasing by 84% as well as improved gross margins. Net losses also decreased substantially over the equivalent period in 2012. Other significant milestones include major professional services engagements that are ongoing and the restructuring of the company's share classes giving ordinary shareholders a two share dividend for each share owned as of August 1, 2013.
"We continue to focus on both the revenue and expense line of our financials and I am pleased with our progress thus far", said Jacquelyn Bolles, ISA's CFO. She also commented that while the improved financials help support the long-term strategy that the senior management team put in place earlier this year, many challenges still remain.
Adrian Goldfarb, ISA's President said, "ISA is in a very important Technology sector which is experiencing rapid growth due to the proliferation of smartphones and other intelligent devices. These devices place an ever increasing load on corporate data centers that support "Cloud" computing. ISA's skills and technology continue to be key components for an enterprise solution to manage expensive computing resources."
The Company reported $430,077 in revenues for the first half of 2013 as compared to $233,704 for the first six months of 2012. Gross Margin was $231,299 representing an 109% increase over the first six months of 2012 and Operating Losses were reduced to $223,226 from $317,278 for the first six months of 2012, a 30% decrease. Cash required for operations declined substantially by over 55%.
About Information Systems Associates
Information Systems Associates, Inc. (OTCQB:IOSA) based in Stuart, FL, is a leading provider of Mobile Data Center Management systems and turnkey data center management solutions. The suite of products and services include data center asset/inventory management, data center management software and data center data collection. Utilizing a proprietary and patented technology, OSPI (On Site Physical Inventory), customers manage data centers on a mobile basis, bringing data center management out of the office and into the data center. Information Systems Associates holds the trademarks for On Site Physical Inventory, OSPI and Mobile Data Center Management.
For more information visit our website http://www.isa-inc.net
Source: Information Systems Associates