ARI announces second quarter results.MILWAUKEE--(BUSINESS WIRE)--March 14, 1995--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 ) today reported revenue of $1.29 million for its second quarter ended Jan. 31, 1995. This represented an increase of 15 percent from the second quarter of last year. Revenue from continuing products increased 42 percent over the second quarter last year. The company's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Don Knudsen Knudsen is a surname of Scandinavian origin, derived from the personal name Knud (Canute). Knudsen refers to:
Gross cash expenses for the quarter decreased by 32 percent from the comparable period last year. Net loss per share was (10 cents) compared to (20 cents) for the second quarter last year. ARI's systems and services automate To turn a set of manual steps into an operation that goes by itself. See automation. business transactions and communications between trading partners in industries with shared distribution channels. ARI's products include database management, salesforce automation, sales reporting and electronic product ordering. -0-
ARI NETWORK SERVICES INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In Thousands)
Jan. 31, July 31,
1995 1994
(Unaudited) (Audited)
ASSETS
Current assets:
Cash and cash equivalents $ 452 $ 1,029
Accounts receivable 1,009 1,187
Prepaid expenses 199 211
_______ _______
Total current assets 1,660 2,427
Equipment & leasehold improvements,
net of accumulated depreciation and
amortization 1,287 1,515
Other assets 34 63
Network systems-net 8,862 9,253
_______ _______
Total Assets $11,843 $13,258
_______ _______
_______ _______
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 764 $ 720
Note payable 53 53
Accrued restructuring costs 20 171
Other current liabilities 819 922
Current portion of capital lease
obligations 61 76
_______ _______
Total current liabilities 1,717 1,942
Capital lease obligations 79 101
Shareholders' equity:
Common stock 12 12
Additional paid-in capital 74,958 73,314
Accumulated deficit (64,923) (62,111)
_______ _______
Total shareholders' equity 10,047 11,215
_______ _______
Total Liabilities & Shareholders'
Equity $11,843 $13,258
_______ _______
_______ _______
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 Six Months Ended
Jan. 31, Jan. 31,
1995 1994 1995 1994
Net revenues $1,291 $1,122 $2,554 $2,731
Operating expenses:(a)
Variable cost of products
and services sold
(exclusive of depreciation
and amortization shown
below) 278 283 578 640
Depreciation and amortization 702 938 1,517 1,782
Network operations 302 310 660 643
Sales and marketing 647 615 1,278 1,188
General and administrative 552 666 1,242 1,326
Network and product
development 358 871 827 1,666
Restructuring costs 0 400 0 400
______ ______ ______ ______
Operating expenses before
amounts capitalized 2,839 4,083 6,102 7,645
Less capitalized
expenses(b) (339) (865) (730) (1,673)
______ ______ ______ ______
Total net operating expenses 2,500 3,218 5,372 5,972
______ ______ ______ ______
Operating loss (1,209) (2,096) (2,818) (3,241)
Other income (expense) 3 (39) 6 (72)
Minority interest in
subsidiary 0 23 0 43
______ ______ ______ ______
Net loss $(1,206) $(2,112) $(2,812) $(3,270)
________ ________ ________ ________
________ ________ ________ ________
Average common shares
outstanding 12,026 10,454 11,952 10,398
Net loss per common share ($0.10) ($0.20) ($0.24) ($0.31)
________ ________ ________ ________
________ ________ ________ ________
(a) Certain reclassifications have been made to the fiscal 1994 operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. to conform to Verb 1. conform to - satisfy a condition or restriction; "Does this paper meet the requirements for the degree?" fit, meet coordinate - be co-ordinated; "These activities coordinate well" the fiscal 1995 presentation. (b) In accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[] As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with FASB FASB See: Financial Accounting Standards Board FASB See Financial Accounting Standards Board (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 con·dense v. con·densed, con·dens·ing, con·dens·es v.tr. 1. To reduce the volume or compass of. 2. To make more concise; abridge or shorten. 3. Physics a. consolidated financial statements Consolidated Financial Statements The combined financial statements of a parent company and its subsidiaries. Notes: Because consolidated financial statements present an aggregated look at the financial position of a parent and its subsidiaries, they enable you to gauge . CONTACT: ARI ARI Acute respiratory infection, see there 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. Don Knudsen, 414/278-7676 |
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