Company posts strong cash flows from operations, despite flat operating results
ARI (OTCBB:ARIS), a leading provider of technology-enabled services that help dealers, distributors and manufacturers in selected vertical markets enhance revenue and reduce costs, today reported results for its first quarter ended October 31, 2010.
First Quarter Fiscal 2011 Summary
The Company posted slight declines in revenue, operating income, and net income. These declines reflect a decrease in revenue from the non-cash amortization of acquisition-related deferred revenue as well as a significant increase in non-cash income tax expense. Excluding these items, the Company would have posted increases to both its revenue and income results.
Net revenues decreased 2% to $5.3 million for the first quarter of fiscal 2011, compared to $5.4 million for the first quarter of fiscal 2010.
Operating income remained relatively flat at $445,000 for the first quarter of fiscal 2011, compared to $469,000 for the same period last year.
Net income decreased to $99,000 or $0.01 per share for the first quarter of fiscal 2011, compared to $162,000 or $0.02 per share for the first quarter of fiscal 2010, driven by increased interest expense and normalized income taxes.
For more information on ARI, please visit the Company's website at www.arinet.com.