ARI Network Services reports 4Q, year-end resultsPosted on
ARI Network Services reported revenue of $8.5 million in its fourth quarter, a 44 percent increase from the same period a year earlier.
The Milwaukee-based company reported record revenue of $30.1 million for the year that ended July 31, a 33.8 percent increase from its 2012 fiscal year. ARI said the increase was driven by its November 2012 acquisition of the assets of the retail division of 50 Below Sales and Marketing Inc.
The company said it had a net loss of $298,000, or 2 cents a share, in the fourth quarter, compared with a profit of $512,000, or 6 cents a share, in the year-earlier period.
ARI said it had a loss of $753,000, or 8 cents a share, for the full fiscal year, compared with a profit of $1.06 million, or 13 cents a share, in the previous year.
Fiscal 2013 was a transformational year for ARI, company president and CEO Roy Olivier said in a statement. We completed two acquisitions, which provided us with a first-to-market opportunity in the powersports industry and introduced ARI to several new markets aftermarket wheel and tire and durable medical equipment. We raised $4.5 million in a private placement transaction that was used to reduce our post-acquisition debt and are excited about our new relationship with Silicon Valley Bank, which we believe will be a critical growth partner for the company.
ARI was also recently made part of the Brunswick Dealer Advantage program. All dealers selling Brunswick boat brands will save on the companys customized marine dealer marketing software, Brunswick said in a statement.
“Brunswick Dealer Advantage is always looking for new ways to support our dealers in their efforts to sell more and make more,” Scott Ward, vice president of Brunswick Financial Services and director of Brunswick Dealer Advantage, said in the statement.
“ARI helps us do just that. ARI has been a long-term provider, so we are very pleased that they are significantly expanding their program with new technology and deeper discounts. Simply, ARI offers tools for our dealers to compete more effectively, which is what Brunswick Dealer Advantage is all about.”