ARI Network Services Inc. said fiscal third-quarter earnings increased almost 21-fold on growth in the company's catalog and website services.
The Milwaukee provider of electronic parts catalogs and marketing services said net income rose to $541,000, or 7 cents a share, from $26,000, or 2 cents, a year earlier. Revenue for the three months ended April 30 was little changed at $5.35 million.
Recent results included a profit from discontinued operations of $25,000 compared to a year-ago loss from discontinued operations of $129,000.
Before those items, ARI had profit from continuing operations of $516,000, up from $155,000 a year earlier.
"We continued to see an increase in our monthly recurring revenue, or MRR, which is the most important financial driver of our business," said Darin R. Janecek, chief financial officer, in a statement. "Due to continued focus on organic growth in our core catalog and website services, through new enhancements and product releases, we realized a 4% increase in our third quarter recurring revenues over the same period last year.
ARI, (OTCBB:ARIS), is a leading provider of technology-enabled services that help dealers, distributors and manufacturers reduce costs and increase sales in selected vertical markets. Specifically, ARI provides electronic parts catalogs, dealer eCommerce solutions, professional services and/or other services in about a dozen vertical markets worldwide, including outdoor power, power sports, motorcycles, marine, recreation vehicles, appliances, agricultural equipment, floor maintenance and construction. ARI currently serves more than 18,500 dealers, over 125 manufacturers, and more than 150 distributors in more than 100 countries worldwide. For more information on ARI, please visit the Company's website at www.arinet.com or www.YourEveryAdvantage.com.