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ARI Reports Growth in 2Q Sales, Profits Decline
Posted By RVBusiness On March 16, 2012 @ 10:19 am In Breaking News | No Comments
ARI Network Services Inc., which provides software solutions to dealers in the RV and other industries, reported an increase in revenue and its number of customers for its fiscal second quarter, which ended Jan. 31.
Soundings Trade Only reported that total revenue for the quarter increased 5%, to $5.5 million compared with $5.2 million in the second quarter of fiscal 2011, the company reported. The company paid down $287,000 of debt in the second quarter; in the same period last year it increased its debt obligations by $92,000. ARI added 156 customers and a new reseller agreement in the second quarter.
The company reported net income of $61,000, or 1 cent a share, for the quarter, compared with $123,000, or 2 cents a share, for the second quarter of 2011.
Second-quarter revenue and operating income were affected by the company’s fiscal 2011 divestiture of its AgChem EDI business. The company reported revenue of $114,000 related to this business in the second quarter of fiscal 2011 that did not repeat this year.
“We are pleased with the results of the quarter and the first half of the year as we continue to make strategic investments to better position the company for improved operational and financial performance,” ARI president and CEO Roy W. Olivier said in a statement. “As we add new customers, continue to expand recurring revenue and reduce the number of existing customers that drop our service, we expect to produce more consistent revenue growth and profitability.”
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