Milwaukee-based software tools and marketing services provider ARI Network Services Inc. announced fiscal first quarter net income of $389,000, or 2 cents per share, up from $104,000, or 1 cent per share, in the fiscal first quarter of 2015.
Operating income was $808,000, up from $283,000 in the same period a year ago.
Revenue totaled $11.7 million in the first quarter, up 29 percent from $9.1 million in the first quarter of 2015.
“In the first quarter of fiscal 2016, we were able to experience the full impact of all three of the acquisitions we completed in fiscal 2015,” said Roy Olivier, president and chief executive officer of ARI. “The results demonstrate the significant progress we have made over the past year in expanding our product and service offerings and increasing the size of our total addressable market. Recurring revenue increased at a faster rate than our overall revenue, which is indicative of the growing number of customers subscribing to our SaaS and other recurring revenue offerings, as well as an increase in the overall spend of those customers. This is a strong start to our fiscal 2016, and we look forward to building upon this performance through the remainder of the year.”