ARI Expands Offers to Include F&I Products and Services.Company acquires assets of Powersports Outsourcing Group, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control MILWAUKEE -- ARI ARI Acute respiratory infection, see there (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ARIS ARIS American Religious Identification Survey ARIS Architecture of Integrated Information Systems ARIS Active Rack Isolation System ARIS Aggregate Route-based IP Switching ARIS Agentia Romana pentru Investitii Straine ), a leading provider of technology-enabled business solutions that connect equipment dealers, distributors and manufacturers, today announced that it had acquired the assets of Powersports Outsourcing Group, LLC (PSOG PSOG Palm Springs Opera Guild (California) ). The acquisition was completed on April 17 by ARI F&I Services, LLC (AFIS AFIS Automated Fingerprint Identification System AFIS Aerodrome Flight Information Service AFIS Armed Forces Radio and Television Service AFIS Airborne Flight Information System AFIS Automated Fingerprinting Identification System (Pakistan) ), a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of ARI, by obtaining the assets of PSOG in partial satisfaction of its debt to ARI. They will offer a suite of finance and insurance (F&I) products and services under the name F&I Smart[TM] to ARI's thousands of customers in the power sports, marine, recreation vehicles, outdoor power and other markets. PSOG, located in Schenectady, NY and led by Mark L. Taylor Mark L. Taylor (born October 25 1954) is an American actor who has appeared in various shows such as Beverly Hills, 90210, Melrose Place, Chicago Hope and Ally McBeal. , has been offering outsourced F&I services to power sports, marine and RV customers in the Northeast U.S. since 1998. These services include assisting dealers' customers to obtain financing, as well as providing them with Extended Service Agreements, Gap Insurance, Tire & Wheel Protection, and other after-sale products. Commenting on the announcements, Roy W. Olivier, ARI's President and Chief Executive Officer said, "We believe offering F&I products and services represents a significant and extremely important new opportunity for ARI to help our customers improve their revenue and profitability. Small and mid-sized dealers in the power sports market have a demonstrated need for these services. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a survey reported by PowerSports Business, 52.8% of motorcycle buyers obtain financing1, yet many dealers do not have the opportunity to offer finance options. PowerSports Business also reports that some dealers are obtaining $500-1000 in additional revenue per unit sold with after-sale F&I products2. Over 1.8 million new power sports units are sold every year, so the revenue potential - for both our dealer partners and ARI - seems to be very strong. The marine and RV markets indicate the same type of need." Initially, ARI will continue to focus on power sports, marine and RV dealerships that do not have a full-time, in-house F&I department. F&I Smart will act as the dealer's outsourced F&I department, dealing directly with their customers to obtain financing and to present various F&I product options, in close collaboration with the dealers' on-site personnel, ultimately providing the dealer with the appropriate agreements for the buyer's signature. "I am very excited about joining ARI and heading up this new F&I business unit", said Mark Taylor People known as Mark Taylor include:
"Our mission statement is to be recognized as the leader in providing the best solutions that enhance revenue and reduce costs for our customers. F&I Smart, offering our dealer customers increased revenue opportunities with no incremental fixed cost, fits this goal very well," said Olivier. About ARI ARI is a leading provider of electronic parts catalogs and marketing services to dealers, distributors and manufacturers in the manufactured equipment markets. ARI currently serves approximately 100 manufacturers and 190 distributors worldwide. Additionally, ARI provides electronic parts catalogs, dealer websites and/or professional marketing services to more than 25,000 dealers in about a dozen segments of the worldwide equipment market including outdoor power, power sports, marine, recreation vehicles, appliances, agricultural equipment, floor maintenance, auto and truck after-market parts and construction. For more information on ARI, please visit our websites: www.arinet.com or www.channelblade.com. Statements in this news release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and . The forward-looking statements can generally be identified by words such as "believes," "anticipates," "expects" or words of similar meaning. Forward-looking statements also include statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Company's future performance, such as future prospects, revenues, profits and cash flows. The forward-looking statements are subject to risks and uncertainties, which may cause actual results to be materially different from any future performance suggested in the forward-looking statements. Such risks and uncertainties include those factors described under "Forward Looking Statements Disclosure" in Exhibit 99.1 of the Company's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for fiscal year ended July 31, 2008 filed with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements. For more information, please refer to the Company's filings with the Securities and Exchange Commission. 1 J.D. Power, as noted in 2008 Market Data Book, Powersports Business, Summer, 2008 2 "Putting Your Best Manager in F&I: Can You Afford Not To?", Powersports Business, April 6, 2009 |
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