Milwaukee-based ARI Network Services Inc. reported fiscal 2015 first quarter net income of $104,000, or one cent per share, up from $25,000, or zero cents per share, in the first quarter of 2014.
Net revenue was $9.1 million, up from $8.2 million in the same period last year.
ARI provides software tools and marketing services designed to help dealers, equipment manufacturers and distributors increase sales, both online and in-store.
During the first quarter, ARI completed the acquisition of Tire Company Solutions LLC.
“With our first quarter results, we are off to a great start for our fiscal year,” said Roy Olivier, president and chief executive officer. “We closed the TCS Technologies acquisition on Sept. 30, 2014, and with the incremental revenue (it) contributed for the quarter, ARI revenue topped $9 million in quarterly revenue for the first time. In addition to the revenue growth, we were able to improve upon both our profit and EBITDA performance from the prior year.”
“Our profit and EBITDA performance in the quarter was strong given we experienced more than $200,000 in charges related to the TCS Technologies acquisition in the quarter,” said William Nurthen, chief financial officer. “In addition, we posted our largest quarterly cash flow from operations performance ever at $1.6 million. We are pacing well ahead of last year as this result represents more cash flow than we generated in the first three quarters of fiscal 2014.”
