ARI Network Services Inc. reports first quarter results; net loss reduced and recurring revenue up.MILWAUKEE--(BUSINESS WIRE)--Dec. 15, 1995--ARI Network Services Inc. (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 ) today announced its results for the first quarter ended Oct. 31, 1995. The company's total revenue was $1.14 million compared to $1.26 million for the first quarter last year. During the quarter, recurring re·cur intr.v. re·curred, re·cur·ring, re·curs 1. To happen, come up, or show up again or repeatedly. 2. To return to one's attention or memory. 3. To return in thought or discourse. revenues were $937,000 up 5 percent from last year. Net loss decreased from ($.14) per share last year to ($0.08) per share this year due in large part to the effect of the company's recently completed restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). . ``While we are not pleased with the revenue performance during the first quarter, we do see some positive trends,'' said Brian Dearing Brian "Stag" Dear (born September 18 1943 in Plaistow, London) is an English former footballer who played as a striker. Dear started his career with West Ham United, joining the club at the age of 15. , the company's recently hired president and chief executive officer. ``For example, recurring revenues continue to grow from year to year and net loss was down substantially from last year.'' ARI ARI Acute respiratory infection, see there is a leading provider of electronic commerce services, including software, computer networking
Computer networking is the engineering discipline concerned with communication between computer systems or devices. , database management and support designed to streamline streamline, path of a fluid flowing steadily and without appreciable turbulence. A body is said to be streamlined if its shape offers the least possible resistance to a current of air, water, or other fluid. channels of distribution by automating the flow of commercial information between trading partners. ARI creates and manages electronic commerce and information databases including on-line directories of products and trading partners, as well as a real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. database of news articles of use by the Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. weekly newspaper members. ARI currently provides electronic commerce services to selected industries and distribution channels including agricultural and specialty chemicals A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. , farm and outdoor power equipment, animal health products and freight The price or compensation paid for the transportation of goods by a carrier. Freight is also applied to the goods transported by such carriers. The liability of a carrier for freight damaged, lost, or destroyed during shipment is determined by contract, statute, or transportation. -0-
ARI NETWORK SERVICES INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In Thousands)
October 31 July 31
1995 1995
(Unaudited) (Audited)
___________ _________
ASSETS ______
Current assets:
Cash and cash equivalents $ 230 $ 236
Accounts receivable 612 1,105
Prepaid expenses 165 180
_______ _______
Total current assets 1,007 1,521
Equipment & leasehold improvements,
net of accumulated depreciation
and amortization 742 879
Other assets 0 5
Network systems-net 9,355 9,277
_______ _______
Total assets $11,104 $11,682
_______ _______
_______ _______
LIABILITIES AND SHAREHOLDERS' EQUITY ____________________________________
Current liabilities:
Accounts payable $ 501 $ 766
Line of credit with shareholders 2,100 1,400
Other current liabilities 814 851
Current portion of capital lease
obligations 64 68
_______ _______
Total current liabilities 3,479 3,085 Capital lease obligations 58 73
Shareholders' equity:
Common stock 12 12
Additional paid-in capital 74,961 74,961
Accumulated deficit (67,406) (66,449)
_______ _______
Total shareholders' equity 7,567 8,524
_______ _______
Total Liabilities & Shareholders'
Equity $11,104 $11,682
_______ _______
_______ _______
See notes to unaudited condensed consolidated financial statements.
ARI NETWORK SERVICES INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands except per share data)
(Unaudited)
Three Months Ended
October 31
__________
1995 1994
____ ____
Net revenues $1,137 $1,263
Operating expenses:
Variable cost of products and
services sold (exclusive of
depreciation and amortization
shown below) 223 300
Depreciation and amortization 385 815
Network operations 223 358
Sales and marketing 523 631
General and administrative 566 690
Network and product development 441 469
___ ___
Operating expenses before amounts capitalized 2,361 3,263
Less capitalized expenses(1) (320) (391)
_____ _____
Total net operating expenses 2,041 2,872
_____ _____
Operating loss (904) (1,609)
Other income (expense) (53) 3
_____ _____
Net loss $(957) $(1,606)
_____ _____
_____ _____
Average common shares outstanding 12,187 11,875
Net loss per common share $(0.08) $(0.14)
_____ _____
_____ _____
(1) In accordance with FASB 86, includes a portion of network and product development expense and other operating expenses directly related to the development process. See notes to unaudited condensed consolidated financial statements. CONTACT: ARI Network Services Inc., Milwaukee Milwaukee (mĭlwŏk`ē), city (1990 pop. 628,088), seat of Milwaukee co., SE Wis., at the point where the Milwaukee, Menominee, and Kinnickinnic rivers enter Lake Michigan; inc. 1846. Brian The name Brian (sometimes spelled Bryan) comes from an Irish backround. It is of Celtic origin and its meaning may be "hill" or "strong, noble, and high"[1]. E. Dearing Dearing, as a name, may refer to:
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