ARI Receives ``In Good Company'' Award.Business Editors/High-Tech Writers MILWAUKEE--(BUSINESS WIRE)--Dec. 8, 2003 Award recognizes focus on core catalog business and improved financial stability 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 e-Catalog business solutions that connect equipment manufacturers with their service and distribution networks has received an award from The Business Journal Serving Greater Milwaukee as part of the publication's 2003 "In Good Company" recognition program. ARI was recognized for its ability to "Roll with the Changes" by refocusing Noun 1. refocusing - focusing again focalisation, focalization, focusing - the act of bringing into focus its business and improving financial stability in a rapidly changing marketplace. Five years ago, ARI's products and services included numerous software and data and asset management services, as well as an electronic catalog business. The challenge for ARI was that each of these businesses faced increasing competition and required on-going investments in developing new software as well as marketing and customer service capabilities to remain competitive. "We recognized that we couldn't be all things to all people. We evaluated our existing business and implemented a plan to downsize Downsize Reducing the size of a company by eliminating workers and/or divisions within the company. Notes: When a company downsizes, it is attempting to find ways to improve efficiency and increase profitability. It is sometimes referred to as trimming the fat. the non-catalog business and to replace it with increased revenues from our core competency A core competency is something that a firm can do well and that meets the following three conditions specified by Hamel and Prahalad (1990):
Revenue from ARI's catalog business was 15% of its total revenues five years ago. After the restructuring, this core business now accounts for 87% of total revenues. ARI management also addressed the financial side of the business. "Since 1995, we have systematically refined the financial side of our business, first growing revenues organically and through acquisitions, then producing EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become and cash, with a profitable year anticipated in fiscal 2004," said Dearing. The company also restructured its debt and repurchased the holdings of its largest shareholder to enhance the ownership position of the remaining shareholders. "This award is truly in recognition and appreciation of all of our employees, managers and directors who came together to enable this company to survive and grow in spite of some tremendous obstacles. Our people rose to the occasion by thinking creatively, reducing costs, taking on additional responsibilities and illustrating the true meaning of 'teamwork.' There is no way this company would have survived these obstacles without the hard work and dedication of our staff," said Dearing. "Everyone involved with ARI has benefited from what we have accomplished -- our employees, our shareholders and our customers." About ARI ARI is a leading provider of e-Catalog business solutions for sales, service and life-cycle product support in the manufactured equipment market. ARI currently provides approximately 74 parts catalogs Noun 1. parts catalog - a list advertising parts for machinery along with prices parts catalogue catalogue, catalog - a complete list of things; usually arranged systematically; "it does not pretend to be a catalog of his achievements" (many of which contain multiple lines of equipment) for approximately 57 equipment manufacturers in the U.S. and Europe. More than 82,000 catalog subscriptions are provided through ARI to approximately 23,000 dealers and distributors in more than 100 countries in a dozen segments of the worldwide manufactured equipment market including outdoor power, power sports, recreation vehicle, floor maintenance, auto and truck parts aftermarket Aftermarket See: Secondary market. aftermarket See secondary market. , marine and construction. The Company builds and supports a full suite of multi-media electronic catalog publishing and viewing software for the Web or CD and provides expert catalog publishing and consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" . ARI also provides a template-based dealer website service that makes it quick and easy for an equipment dealer to have a professional and attractive website. In addition, ARI e-Catalog systems support a variety of electronic pathways for parts orders, warranty claims and other transactions between manufacturers and their networks of sales and service points. ARI currently operates three offices in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and one in Europe and has sales and service agents in Australia, England and France providing marketing and support of its products and services. |
|
||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion