ARI increases revenue for fiscal 2009
October 30, 2009
Filed under Features
Due to growth of marketing services and two acquisitions, ARI was profitable for its 2009 fiscal year, which ended July 31, the company reported in a release.
ARI’s revenue increased to $17.6 million for the year, which is up from $16.9 million in fiscal 2008. The company’s operating income was $767,000 for fiscal 2009, compared to operating income of $821,000 for the prior fiscal year. Its net income was $424,000 for fiscal 2009, compared to $1.4 million in ’08.
ARI’s fourth quarter revenue also increased 24 percent to $5.3 million. Its operating loss was $105,000 for the quarter compared to an operating loss of $237,000 during the prior year. The company recorded a net loss of $114,000 compared to $378,000 in 2008.
“Fiscal 2009 was a good year for ARI,” Roy Olivier, president and CEO of ARI, said in the release. “We increased revenues, remained profitable and successfully completed two acquisitions, all within a challenging economic environment. We generated $2.7 million in cash from operations for the year, which we used for the two acquisitions, investments in equipment and software development and for the repayment of debt and capital lease obligations.”