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ARI Earnings Up 175% as Interest Costs Fall

ARI Network Services said Wednesday it nearly tripled its fiscal first-quarter earnings.

The Milwaukee provider of electronic parts catalogs and marketing services said net income rose to $272,000, or 3 cents a share, from $99,000, or 1 cent, a year ago. Revenue for the three months ended Oct. 31 rose 1.6%, to $5.41 million from $5.32 million.

First-quarter revenue and operating income were affected by the divestiture of its AgChem EDI business in March 2011, the company said. ARI reported revenue of $123,000 related to AgChem in the year-ago quarter.

The company reported interest expense for the quarter fell 69% from a year ago, to $62,000 from $201,000.

Darin Janecek, ARI's chief financial officer, said the company's renegotiation of its long-term debt at the end of fiscal 2011 cut interest costs by $139,000

For more information on ARI, visit the Company's website at www.arinet.com.