Rhea-AI Summary
Information Analysis Incorporated (OTCQB: IAIC) reported strong financial results for 2020, with revenues increasing by 37% to $13.9 million, up from $10.2 million in 2019. The company turned a profit with a net income of $413,000 compared to a loss of $717,000 the previous year. Fourth-quarter revenue rose 48% to $3.1 million, and net income for that quarter improved to $360,000 from a loss of $139,000 in Q4 2019. The outlook for 2021 is positive, with projected net income between $1.1 million and $1.2 million, driven by growth in federal government demand for modernization services.
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