Milwaukee-based ARI Network Services Inc. reported fiscal fourth quarter net income of $368,000, or 2 cents per share, up from $174,000 or 1 cent per share, in the fourth quarter of 2014.
The company, which makes sales software and offers marketing services for dealers, distributors and manufacturers, reported quarterly operating income of $686,000, up from $430,000 in the same quarter last year.
Revenue totaled $10.9 million, up 28 percent from $8.5 million in the fourth quarter of 2014.
For the full year, ARI reported net income of $1.1 million, or 7 cents per share, up from a net loss of $102,000, or 1 cent lost per share, in 2014.
Its 2015 operating income was $2.3 million, up from $356,000 last year.
Full-year revenue totaled $40.4 million, up from $33 million in 2014.
“As a result of successfully executing on our strategy in fiscal 2015, it was a transformative year for ARI in many respects,” said Roy Olivier, president and chief executive officer of ARI. “In addition to another year of record results, we closed three acquisitions that complement ARI’s strategic opportunities and position us well for the future. Just a few years ago, we were effectively serving four vertical markets with two products and a total addressable market of about 25,000 dealers in the U.S. As a result of the actions we have taken in the past few years, we are now serving seven vertical markets with four products and services and a total addressable market of about 150,000 dealers in the U.S. I believe this better positions our company for continued growth. ”
“Our operating profit and Adjusted EBITDA performance for the fourth quarter and fiscal year 2015 were especially strong considering the impact of costs related to acquisitions,” said William Nurthen, chief financial officer. “The Q4 results were impacted by approximately $200,000 in transaction costs, and the fiscal year 2015 results were impacted by more than $500,000 in transactions costs related to the three acquisitions completed in the year.”
