Sales up 10%, but earnings down on higher expenses.
ARI Network Services Inc. this week reported a 10 percent boost in revenue for its fiscal first quarter, although net earnings dipped on higher expenses.
ARI (OTCBB: ARIS), a Milwaukee-based software company that serves about 140 equipment manufacturers and more than 19,000 dealers in five different segments of the manufactured equipment market, posted net income of $113,000, or 1 cent per share, compared with $272,000, or 3 cents per share, in the year-ago period.
Net revenue increased to $5.9 million in the period ended Oct. 31, up from $5.4 million in the same period last year.
The company made two acquisitions in the past few months, buying Ready2Ride Inc. in August and purchasing the retail division of 50 Below Sales & Marketing Inc. in November.