MILWAUKEE, Wis. - ARI Network Services reported revenue of $8.2 million for the third quarter ended April 30, up 44 percent from $5.7 million for the same period last year.
"We are pleased with the progress we have made integrating our two fiscal 2013 acquisitions. We were able to generate a profit from the 50 Below operation in the second quarter of our ownership,” said president and CEO Roy W. Olivier, adding 50 Below lost about $4 million on $9 million revenue in the year before ARI acquired the company. “Integration activities will continue over the next nine to 12 months and we expect the 50 Below operations, as well as our combined operations, to become increasingly more profitable."
The AccessorySmart aftermarket parts lookup software, continues to gain traction in the marketplace after its February launch, he said.
“We have also launched significant improvements to our products aimed at the automotive wheel and tire aftermarket, a market for which we have significant growth expectations," he said. ARI hosts and maintains more than 5,500 websites.
Posted by Holly Wagner