Milwaukee-based ARI Network Services Inc., which provides sales software and marketing tools for dealers, distributors and manufacturers, reported a higher profit on a 16 percent revenue increase in the third quarter.
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Third-quarter net income was $448,000, or 3 cents per diluted share, up from $339,000, or 2 cents per share, in the third quarter of 2015.
Operating income totaled $921,000, up from $675,000 in the same period a year ago.
Net revenue was $12 million, up 16.6 percent from $10.3 million in the same period a year ago.
“I am proud of the ARI team, who have worked hard to consistently deliver improving performance throughout the year,” said Roy Olivier, president and chief executive officer of ARI.”We continue to focus on executing our strategy, and our third quarter results are representative of our continued ability to deliver results. We delivered strong new and upsell bookings in all the vertical markets we serve, resulting in over $3.0 million in new bookings and, for the first time, over $11.0 million in new bookings on a trailing 12 month basis. The scale we have added to the business over the past few years is allowing us to make additional investments in enhancing our products and services that I believe will drive growth in the coming years. I am confident that we remain well positioned to have a strong finish to our fiscal year.”