ARI Reports First $2-Million Quarter, Loss Cut In Half.MILWAUKEE--(BUSINESS WIRE)--Nov. 19, 1997--ARI Network Services, Inc. (NASDAQ/NMS: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 Internet-enabled electronic commerce services, today reported that quarterly revenues surpassed $2 million for the first time in its history. The Milwaukee-based firm reported record quarterly revenues of $2.02 million for the first fiscal quarter ended October October: see month. 31, 1997, an increase of 20% from $1.68 million in the first quarter of fiscal 1997. ARI's net loss for the recently completed first quarter was $593,000 or $0.04 per share, about half the loss of $1.15 million or $0.08 per share experienced in the first fiscal quarter a year ago. "This was our seventh consecutive quarter of year-over-year increases in revenue and our fourth consecutive quarter in which we reduced our operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. from the corresponding quarter of the previous year," commented 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:
A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses (net of changes in working capital items) by the end of fiscal 1998." "We're we're Contraction of we are. we're we are pleased that we have been able to continue our successful cost containment cost containment, n the features of a dental benefits program or of the administration of the program designed to reduce or eliminate certain charges to the plan. measures while, at the same time, moving forward with the product development which is essential to our long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. profitability," added Dearing. Despite the stepped up product development activities, cash consumption from operations and investment taken together (net of changes in working capital) dropped 13% over last year's first quarter. Dearing attributed the revenue growth to the Company's two acquisitions in the Equipment sector as well as internal growth from the Agricultural Chemicals and Transportation sectors. "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 65% of total revenues," Dearing added. "We believe that a ratio of two-thirds recurring revenue is about the right mix of new customers and ongoing business from existing customers." ARI ARI Acute respiratory infection, see there Network Services, Inc., is a provider of standards-based, Internet-enabled electronic services for commercial communities and their distribution channels or business partners. ARI currently serves the agribusiness agribusiness Agriculture operated by business; specifically, that part of a modern national economy devoted to the production, processing, and distribution of food and fibre products and byproducts. , equipment, 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 and newspaper publishing industries with a complete range of software, services and support that streamlines distribution channels by automating the flow of commercial information between trading partners. The Company's dealer and distributor management systems provide an electronic pathway pathway /path·way/ (path´wa) 1. a course usually followed. 2. the nerve structures through which an impulse passes between groups of nerve cells or between the central nervous system and an organ or muscle. for sales reports, product ordering, warranty An assurance, promise, or guaranty by one party that a particular statement of fact is true and may be relied upon by the other party. Warranties are used in a variety of commercial situations. In many instances a business may voluntarily make a warranty. registrations and other transactions between manufacturers and their networks of sales and service points. ARI also builds and manages electronic commerce databases, including electronic 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" and industry-common directories of products, companies and locations. -0- This press release contains certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. regarding management's expectations of future performance including, but not limited to, revenues, profits and cash flows. Since many factors can cause actual results to differ materially from those projected, investors should consult the Company's most recent 10-K for a full description of factors affecting future performance. -0-
ARI NETWORK SERVICES, INC.
Statement Of Operations
(Dollars in thousands, except for per share data)
(Unaudited)
Three months ended
October 31
1997 1996
__________________
Net revenues:
Network & other services $ 1,357 $ 1,328
Software & development 666 355
___ ___
2,023 1,683
Operating expenses:
Variable costs of products and services sold:
Network & other services
341 268
Software & development
134 213
___ ___
475 481
Depreciation and amortization 414 528
Network operations 188 229
Selling, general and administrative 1,346 1,316
Network construction and expansion 593 340
___ ___
3,016 2,894
Less: capitalized portion (434) (152)
___ ___
Total operating expenses 2,582 2,742
Operating loss $ (559) $ (1,059)
Other income (expense) (34) (90)
__ __
Net income (loss) $ (593) $ (1,149)
_______ ________
_______ ________
Average common shares outstanding 14,987 13,726
Net loss per share $ (0.04) $ (0.08)
_______ ________
_______ ________
ARI Network Services, Inc.
Balance Sheet
(Dollars in thousands, except for per share data)
(Unaudited)
Assets October 31 July 31
1997 1997
___________________
Current Assets:
Cash and cash equivalents $ 1,421 $ 64
Accounts receivable
Trade, less allowance for doubtful
accounts of $155 in 1998
and $132 in 1997 1,870 1,549
Other 11 19
Prepaid expenses 151 140
___ ___
Total Current Assets 3,453 1,772
Equipment & leasehold improvements:
Network system hardware 3,902 3,579
Leasehold improvements 239 239
Furniture and equipment 484 374
___ ___
4,625 4,192
Less accumulated depreciation
and amortization (4,096) (3,877)
_____ _____
Net equipment and leasehold improvements 529 315
Other assets 848 372
Network system:
Network platform 11,467 11,467
Industry-specific applications 18,335 17,925
______ ______
29,802 29,392
Less accumulated amortization (20,735) (20,435)
______ ______
9,067 8,957
Total Assets $ 13,897 $ 11,416
_________ ________
_________ ________
ARI Network Services, Inc.
Balance Sheet
(Dollars in thousands, except for per share data)
(Unaudited)
Liabilities & Shareholder's Equity
Current liabilities:
Line of credit payable to shareholder $ 1,619 $ 500
Notes payable 41 46
Accounts payable 732 650
Unearned income 545 543
Accrued payroll and related expenses 531 493
Other accrued expenses 210 165
Current portion of capital lease obligations 65 64
_____ _____
Total Current Liabilities 3,743 2,461
Capital lease obligations 28 8
Shareholders' equity:
Preferred stock, par value
$.001 per share, 1,000,000
shares authorized; 20,000
shares issued and outstanding in 1998 0 0
Common stock, par value
$.001 per share, 25,000,000 shares
authorized; 16,590,974 and 14,767,017
shares issued and outstanding in 1998
and 1997, respectively 17 15
Additional paid-in-capital 84,633 82,862
Accumulated deficit (74,524) (73,930)
______ ______
Total Shareholders' Equity 10,126 8,947
______ ______
Total Liabilities & Shareholders'
Equity $13,897 $11,416
_______ _______
_______ _______
EDITOR'S NOTE Editor's Note (foaled in 1993 in Kentucky) is an American thoroughbred Stallion racehorse. He was sired by 1992 U.S. Champion 2 YO Colt Forty Niner, who in turn was a son of Champion sire Mr. Prospector and out of the mare, Beware Of The Cat. Trained by D. : There is an "at" symbol following "krajcir" and "vollrathpr" in the e-mail addresses See Internet address. e-mail address - electronic mail address below. This symbol may not appear properly in some systems. CONTACT: ARI Network Services, Inc. Nancy Nancy (näNsē`), city (1990 pop. 102,410), capital of Meurthe-et-Moselle dept., NE France, on the Meurthe River and the Marne-Rhine Canal. It is the administrative, economic, and educational center of Lorraine. Krajcir, 414/283-4380 Fax: 414/283-4357 E-mail: krajcir@arinet.com or Vollrath Associates, Inc. Marilyn Marilyn can refer to:
Fax: 414/377-2370 E-mail: vollrathpr@aol.com America Online's Internet domain address. When sending e-mail to an AOL subscriber via the Internet, the aol.com is the last part of the address; for example: jjones@aol.com. |
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