IAI Posts Positive 2nd Quarter 2021 Results
IAI reported positive results for the second quarter and six months ended June 30, 2021, which were highlighted by a significant expansion in professional fee revenues, bottom-line profitability, and the successful closing of the acquisition of Tellenger. Second quarter Professional fees increased to $3.3 million up from $1 million. • Gross margin improved significantly, increasing to 20.2% compared with 8.1%. • Higher margin professional fees accounted for 70.3% of revenues. • Net income amounted to $43,157, compared with a net loss of $(34,620). Please see the related press release under the “News” section in this website.