ARI Network Services, Inc., a Milwaukee-based provider of technology-enabled business solutions for equipment dealers, distributors and manufacturers, today reported fiscal first quarter net income of $243,000, or 4 cents per share, up from $225,000, or 3 cents per share, in the same period a year ago.
The company's quarterly revenues increased 21 percent to $4.2 million from $3.5 million a year earlier.
"This was a good quarter for ARI. The marketing services business continued to drive our revenue growth, with 55 percent of the growth being organic and 45 percent resulting from the acquisition of OC-Net, which we acquired in January 2007," said Brian Dearing, chairman and chief executive officer of the company. "As anticipated, our return to profitability in the first quarter reflected the fact that we did not have the non-recurring items in the first quarter that contributed to the net losses in the third quarter and fourth quarter of last year."
Dearing noted that the company will make a final $200,000 payment at the end of this month on the $4 million in debt it restructured in April 2003. "All of our remaining debt is related to the OC-Net acquisition," he said.
ARI's stock is thinly traded over the counter.
ARI reports profitable quarter
Operand type clash: text is incompatible with int
advertisement
Sorry, the story you tried to comment on is not accepting comments.