ARI posts revenue increase for its third quarter
June 17, 2008
Filed under Uncategorized
ARI, a provider of technology-enabled business solutions that connect dealers, distributors and manufacturers, reported increased revenue for its third quarter and its first nine months of its fiscal year.
Revenue was up 1 percent in the third quarter and 12 percent to $12.6 million for its first nine months.
“The increase in third-quarter revenues was entirely organic. Year-to-date, our growth was half organic, with the other half coming from the acquisition of OC-Net in January 2007,” Roy Olivier, ARI’s newly appointed president and CEO, said in a press release. “In the first three quarters of the fiscal year, we lowered expenses, generated strong cash flow, reduced our leverage and increased profitability, as we had expected.”
The company’s net income was $427,000, compared to a net loss of $205,000 for the comparable prior period.