SOURCE: Information Systems Associates Inc.

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June 24, 2015 09:00 ET

ISA Duos Technologies Announces First Quarter 2015 Pro-Forma Financials

Quarterly Revenue of $1.1 Million; 4 Percent Year-Over-Year Growth

JACKSONVILLE, FL--(Marketwired - June 24, 2015) - Information Systems Associates Inc. (OTCQB: IOSA) and its wholly-owned subsidiary Duos Technologies Inc. ("Duos"), a provider of intelligent security analytical technology solutions, are pleased to announce Duos' first quarter 2015 pro-forma financial results. As per its completed merger on April 1, 2015 and pursuant to the Agreement and Plan of Merger, dated February 6, 2015, Duos became a wholly-owned subsidiary of Information Systems Associates Inc. For the three months ended March 31, 2015, ISA's Duos generated $1,102,095 revenue, which represented a 4 percent increase from the first quarter of 2014.

Financial Highlight for the First Quarter Ended March 31, 2015
Revenue breakdown for the first quarter ended March 31, 2015 was 46 percent project revenue and 54 percent maintenance and technical support. Overall gross profit margin improved to 64 percent, from 58 percent in the year ago comparable period. Operating loss for the first quarter ended March 31, 2015 was $364,531, which was similar to the year ago comparable period. The first quarter 2015 operating loss was negatively impacted by a large increase in one-time professional fees related to the reverse merger activities.

Gianni Arcaini, Chairman and CEO of ISA and Duos Technologies, stated, "We are delighted to be able to demonstrate growth in our business and share our excitement in our business prospects with our public shareholders. We will continue to report our progress through regular press releases." Mr. Arcaini added, "We have validated our technologies and applications with significant project awards. We look forward to a year with strong revenue growth, as well as increased transparency and consistent communication with our shareholders."

Adrian Goldfarb, CFO of ISA and Duos Technologies, commented, "We are pleased to give our shareholders a first look at operating results for our Duos subsidiary. While past results are not indicative of future performance, I believe that the strong start by Duos in what has traditionally been a weak quarter bodes well for the future. As the merged companies continue executing against the strategic plan laid out by Mr. Arcaini, I believe we will be in position to comment further and give some guidance later this year."

Further details as to Duos' financial information and results of operations for the first quarter ended March 31, 2015, and the years ended December 31, 2004 and 2013 are in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on June 17, 2015.

The Company will report its first results as a combined entity when it files its second quarter ended June 30, 2015 results in mid-August 2015.

About Information Systems Associates Inc./Duos Technologies Inc.
Information Systems Associates Inc. (OTCQB: IOSA), based in Jacksonville, FL, provides intelligent security analytical technology solutions with a strong portfolio of intellectual property, primarily through its wholly-owned subsidiary Duos Technologies, Inc. Duos Technologies' core competencies include advanced intelligent technologies that are delivered through its proprietary integrated enterprise command and control platform, centraco™. The Company provides its broad range of technology solutions with an emphasis on mission critical security, inspection and operations within the rail, utilities, petrochemical, healthcare, and hospitality sectors. ISA also offers IT, professional services and consulting services for information technology projects.

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Forward-Looking Statements
This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon our current expectations, estimates and projections and reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including but not limited to, our expectations as to continued revenues growth and ultimate profitability, our business environment and industry trends, competitive environment, the sufficiency and availability of working capital, ability to raise working capital and general changes in economic conditions. Further information on our risk factors is contained in our filings with the SEC, including the Form 10-K for the year ended December 31, 2014. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to revise or update any forward-looking statement for any reason.

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