Feb. 8, 2010: Finance Digest
February 8, 2010
Filed under Features
ARI reports rise in its 1Q revenue
ARI, a Web site and e-commerce software provider, reported rising sales for its fiscal 2010 first quarter as revenue increased 31 percent compared to a year ago.
However, the company’s net income dropped to $162,000, a decline of 37 percent compared to a year ago.
Sales were up to $5.5 million.
“First-quarter revenue was significantly higher than last year as a result of continued strong sales of new marketing services, high levels of renewals for marketing services and catalog subscriptions, and the acquisition of Channel Blade Technologies,” Roy Olivier, ARI’s CEO, said in a company press release. “We experienced a decline in nonstrategic professional services revenue, which remains negatively affected by the state of the economy.”
Olivier also noted the “vibrant growth of our marketing services revenue and high renewal rates are a result of the strength of our products and the value they bring to our customers,” he said. “We expect to drive future growth through new products, including our two latest offerings, SearchEngineSmart and PartStream.”
Lehman Trikes adds chairman to its board of directors
Marc Rose, who has served on Lehman Trikes’ board since 2007, has been named the new chairman after C.L. (Les) Brown retired.
Brown, who had served as a member of the board since 2002, became chairman in 2006. He stepped down for personal reasons, according to a company press release, although he will continue to serve on the board.
“Les has done a phenomenal job as chairman,” John Lehman, founder of Lehman Trikes, said in the press release. “His expertise and insight have helped our company move through many important changes in the past five years.”
Rose has more than 20 years of senior management experience and expertise in the aerospace industry. He has earned designations of Certified Purchasing Manager with the National Association for Purchasing Management as well as Certified Production Inventory Manager.
Dimension Service corp. names Chief Operating Officer
Dimension Service Corp., which administers and markets F&I products through independent agents who service automobile and powersports dealers nationwide, appointed Al Stein as chief operating officer.
In his new role, Stein will be responsible for the day-to-day operation of the company. Stein recently served as vice president of service contracts for Allstate’s dealer services division.
“We are excited to have a person with the talent and credentials of Al Stein on board with us,” said Haytham ElZayn, chairman and CEO of Dimension. “This year is an exciting year for us. We have aligned ourselves with the best underwriters, enhanced our programs and positioned ourselves to execute on the growth opportunities before us.
“Al Stein’s operational leadership will ensure we realize this growth potential, and continue to provide the level of support and service our agents expect.”