ARI, a leading provider of technology-enabled solutions that help dealers, distributors and manufacturers, today reported a 31 percent increase in revenue for the first quarter of 2010, which ended Oct. 31.
Revenues increased to $5.5 million for the first quarter, compared to $4.2 million for the first quarter of fiscal 2009, the company reported.
Operating income increased 16 percent to $339,000 for the first quarter of fiscal 2010, compared to $291,000 for the same period of 2009, while net income decreased to $162,000 or 2 cents per diluted share for the first quarter of fiscal 2010, compared to $256,000 or 4 cents per diluted share for the first quarter of fiscal 2009.
"I am pleased with our results. 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," president and CEO Roy Oliver said in a statement.
"Although net income was down from the same period last year, due to an accrual adjustment related to our FY2008 restructuring and to interest expense from our acquisition of Channel Blade, operating income increased," he added.
ARI provides electronic parts catalogs, dealer e-commerce solutions, professional services and/or F&I services in about a dozen markets worldwide, including outdoor power, power sports, motorcycles, marine, recreation vehicles, appliances, agricultural equipment, floor maintenance and construction.
ARI currently serves more than 20,000 dealers, more than 100 manufacturers and more than 150 distributors in more than 100 countries worldwide.