MILWAUKEE, June 8, 2017 /PRNewswire/ -- ARI Network
Services, Inc. (NASDAQ: ARIS), an award-winning provider of
SaaS, software tools and marketing services that help dealers,
distributors and manufacturers Sell More Stuff!™, reported
financial results for its fiscal 2017 third quarter ended
April 30, 2017.
Highlights for the fiscal third quarter included:
- Revenue increased for the 13th consecutive quarter
to $13.4 million, which compares to
$12.0 million for the same period
last year, a 12.0% increase. Recurring revenue increased 11.6% to
$12.3 million, compared to
$11.1 million for the same period
last year.
- Operating income increased 61.5% to $1.5
million compared to $0.9
million in the prior year. The operating margin of 11.1%
compares with a prior year margin of 7.7%.
- Net income was $1.4 million or
$0.08 per diluted share, an increase
of over 200% compared to $0.4 million
or $0.03 per diluted share in the
same period last year. The Company completed a tax study in the
quarter that produced tax research and development credits of
$0.6 million, or $0.03 per share.
- Adjusted EBITDA (a non-GAAP measure) was up 38.9% to a record
$3.0 million, or 22.5% of revenue,
compared to $2.2 million or 18.2% of
revenue in the same period last year.
- Cash generated from operations increased 24.1% to $3.2 million compared to $2.6 million in the same period last year.
Fiscal 2017 Third Quarter Financials
Revenues in the third quarter of fiscal 2017 increased 12.0% to
$13.4 million compared to
$12.0 million in the same period last
year. Recurring revenue comprised 91.9% of total revenue versus
92.2% for the same period last year.
Gross margin for the third quarter of fiscal 2017 was 80.5%,
which is flat compared to the prior year quarter.
The company reported net income of $1.4
million or $0.08 per diluted
share for the quarter, compared to net income of $0.4 million or $0.03 per diluted share last year.
Adjusted EBITDA for the third quarter of fiscal 2017 increased
to $3.0 million compared to
$2.2 million in the same period last
year.
Management Discussion
"Our third quarter results exceeded our expectations and place
us well on the path to achieving our goals for fiscal 2017," said
Roy W. Olivier, President and CEO of
ARI. "We had strong bookings in the quarter which were aided by a
large business management software sale, and although churn runs
seasonally high in Q3, we were able to post a year over year
improvement for the fourth consecutive quarter. On a trailing
twelve-month basis, we have now recorded over $51 million in revenue and approximately
$9.5 million in adjusted EBITDA. As
we head into the fourth quarter of our fiscal 2017, we are well
positioned to improve on those numbers and report another record
year for ARI."
William Nurthen, CFO of ARI,
commented: "With most of the non-recurring charges from the first
half of the year behind us and an opportunity to realize the cost
synergies from the Auction123 acquisition, the third quarter set up
well to show strong profitability and cash flow. As Roy noted, the
results exceeded our expectations and placed us firmly on plan to
achieve annualized adjusted EBITDA of over $10 million in the second half of the year as
well as improve fiscal 2017 margins over fiscal 2016. The third
quarter also represents the first quarter in our history where we
produced over $3 million in adjusted
EBITDA and over $3 million of cash
flow from operations. This helped propel our cash balance to
approximately $5.6 million, while our
debt is now down to approximately $15.6
million. We expect another strong cash flow performance in
the fourth quarter, which will leave us well positioned to make
future investments in the business."
Fiscal 2017 Third Quarter Conference Call
ARI will conduct a conference call on Thursday, June 8, 2017 at 4:30 p.m. EST to review the financial results for
the fiscal third quarter ended April 30,
2017. Investors and interested parties can access the
conference call by dialing 877.359.3639 or 408.427.3725 and
referring to conference ID 16111667. The conference call is also
being webcast and is available via the Company's investor relations
website at investor.arinet.com. A replay of the webcast will be
archived on the Company's investor relations website for 60
days.
Non-GAAP Measures
Adjusted EBITDA, a non-GAAP measure, is defined as earnings
before interest, income taxes, depreciation and amortization,
excluding stock-based compensation. Management believes
Adjusted EBITDA to be a meaningful indicator of our performance
that provides useful information to investors regarding our
financial condition and results of operations. While management
considers Adjusted EBITDA to be an important measure of comparative
operating performance, it should be considered in addition to, but
not as a substitute for, net income and other measures of financial
performance reported in accordance with generally accepted
accounting principles (GAAP). Not all companies calculate Adjusted
EBITDA in the same manner and the measure as presented may not be
comparable to similarly titled measures presented by other
companies. A reconciliation of net income to Adjusted EBITDA
can be found in this release and at the Company's investor
relations website for all periods presented.
About ARI
ARI Network Services, Inc. (ARI) (NASDAQ: ARIS) offers an
award-winning suite of SaaS, software tools, and marketing services
to help dealers, equipment manufacturers and distributors in
selected vertical markets Sell More Stuff!™ – online and
in-store. Our innovative products are powered by a proprietary data
repository of enriched original equipment and aftermarket
electronic content spanning more than 17 million active part and
accessory SKUs and 750,000 equipment models. Business is
complicated, but we believe our customers' technology tools don't
have to be. We remove the complexity of selling and servicing
new and used vehicle inventory, parts, garments and accessories
(PG&A) for customers in the automotive tire and wheel
aftermarket, powersports, outdoor power equipment, marine, home
medical equipment, recreational vehicles and appliance industries.
More than 25,000 equipment dealers, 195 distributors and 3,360
brands worldwide leverage our web and eCatalog platforms to Sell
More Stuff!™ For more information on ARI, visit
investor.arinet.com.
Additional Information
- Follow @ARI_Net on Twitter: twitter.com/ARI_Net
- Become a fan of ARI on Facebook:
www.facebook.com/ARInetwork
- Join us on G+: plus.google.com/117293073211296447579
- LinkedIn: linkedin.com/company/ari_2
- Read more about ARI: investor.arinet.com/about-us
Forward-Looking Statements
Certain statements in this news release contain "forward‐looking
statements" regarding future events and our future results that are
subject to the safe harbors created under the Securities Act of
1933. All statements other than statements of historical facts are
statements that could be deemed to be forward-looking statements.
These statements are based on current expectations, estimates,
forecasts, and projects about the markets in which we operate and
the beliefs and assumptions of our management. Words such as
"expects," "anticipates," "targets," "goals," "projects",
"intends," "plans," "believes," "seeks," "estimates," "endeavors,"
"strives," "may," or variations of such words, and similar
expressions are intended to identify such forward-looking
statements. Readers are cautioned that these forward‐looking
statements are subject to a number of risks, uncertainties and
assumptions that are difficult to predict, estimate or verify.
Therefore, actual results may differ materially and adversely from
those expressed in any forward-looking statements. Such risks and
uncertainties include those factors described in Part 1A of the
Company's most recent annual report on Form 10‐K, as such may be
amended or supplemented by subsequent quarterly reports on Form
10-Q, or other reports filed with the Securities and Exchange
Commission. Readers are cautioned not to place undue reliance on
these forward‐looking statements. The forward‐looking statements
are made only as of the date hereof, and the Company undertakes no
obligation to publicly release the result of any revisions to these
forward‐looking statements. For more information, please refer to
the Company's filings with the Securities and Exchange
Commission.
|
ARI Network
Services, Inc.
|
|
Consolidated
Statements of Operations
|
|
(Dollars in
Thousands, Except per Share Data)
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
Three months ended
April 30
|
|
Nine months ended
April 30
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
Net
revenue
|
$
|
13,425
|
|
$
|
11,984
|
|
$
|
38,941
|
|
$
|
35,473
|
|
Cost of
revenue
|
|
2,612
|
|
|
2,334
|
|
|
7,504
|
|
|
6,467
|
|
Gross
profit
|
|
10,813
|
|
|
9,650
|
|
|
31,437
|
|
|
29,006
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales and
marketing
|
|
2,595
|
|
|
2,801
|
|
|
8,104
|
|
|
8,314
|
|
Customer operations
and support
|
|
2,618
|
|
|
2,374
|
|
|
8,258
|
|
|
7,248
|
|
Software development
and technical support (net of capitalized software product
costs)
|
|
1,505
|
|
|
1,221
|
|
|
4,321
|
|
|
3,795
|
|
General and
administrative
|
|
1,864
|
|
|
1,732
|
|
|
5,770
|
|
|
5,247
|
|
Depreciation and
amortization (exclusive of amortization of software product costs
included in cost of revenue)
|
|
744
|
|
|
601
|
|
|
2,057
|
|
|
1,800
|
|
Net operating
expenses
|
|
9,326
|
|
|
8,729
|
|
|
28,510
|
|
|
26,404
|
|
Operating
income
|
|
1,487
|
|
|
921
|
|
|
2,927
|
|
|
2,602
|
|
Other income
(expense):
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
expense
|
|
(200)
|
|
|
(118)
|
|
|
(526)
|
|
|
(350)
|
|
Other, net
|
|
9
|
|
|
13
|
|
|
11
|
|
|
5
|
|
Total other income
(expense)
|
|
(191)
|
|
|
(105)
|
|
|
(515)
|
|
|
(345)
|
|
Income before
provision for income tax
|
|
1,296
|
|
|
816
|
|
|
2,412
|
|
|
2,257
|
|
Income tax
expense
|
|
129
|
|
|
(368)
|
|
|
(389)
|
|
|
(972)
|
|
Net income
|
$
|
1,425
|
|
$
|
448
|
|
$
|
2,023
|
|
$
|
1,285
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
common shares outstanding:
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
17,493
|
|
|
17,258
|
|
|
17,461
|
|
|
17,199
|
|
Diluted
|
|
18,010
|
|
|
17,769
|
|
|
17,960
|
|
|
17,689
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income per common
share:
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
$
|
0.08
|
|
$
|
0.03
|
|
$
|
0.12
|
|
$
|
0.07
|
|
Diluted
|
$
|
0.08
|
|
$
|
0.03
|
|
$
|
0.11
|
|
$
|
0.07
|
|
ARI Network
Services, Inc.
|
|
Consolidated
Balance Sheets
|
|
(Dollars in
Thousands, Except per Share Data)
|
|
|
|
|
|
|
|
|
|
(Unaudited)
|
|
(Audited)
|
|
April
30
|
|
July
31
|
|
|
2017
|
|
2016
|
|
ASSETS
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
|
5,555
|
|
$
|
5,118
|
|
Trade receivables, less allowance for doubtful
accounts of $225 and $211 at April 30, 2017 and July 31,
2016, respectively
|
|
|
2,944
|
|
|
1,942
|
|
Work in
process
|
|
|
199
|
|
|
132
|
|
Prepaid expenses and
other
|
|
|
829
|
|
|
781
|
|
Deferred income
taxes
|
|
|
3,259
|
|
|
3,182
|
|
Total current
assets
|
|
|
12,786
|
|
|
11,155
|
|
Equipment and
leasehold improvements:
|
|
|
|
|
|
|
|
Computer equipment
and software for internal use
|
|
|
3,693
|
|
|
3,575
|
|
Leasehold
improvements
|
|
|
724
|
|
|
639
|
|
Furniture and
equipment
|
|
|
2,717
|
|
|
2,544
|
|
Total equipment and leasehold improvements
|
|
|
7,134
|
|
|
6,758
|
|
Less accumulated
depreciation and amortization
|
|
|
(4,874)
|
|
|
(4,237)
|
|
Net equipment and
leasehold improvements
|
|
|
2,260
|
|
|
2,521
|
|
Capitalized software
product costs:
|
|
|
|
|
|
|
|
Amounts capitalized
for software product costs
|
|
|
28,235
|
|
|
24,774
|
|
Less accumulated
amortization
|
|
|
(21,526)
|
|
|
(19,743)
|
|
Net capitalized
software product costs
|
|
|
6,709
|
|
|
5,031
|
|
Deferred income
taxes
|
|
|
664
|
|
|
1,112
|
|
Other intangible
assets
|
|
|
9,702
|
|
|
7,890
|
|
Goodwill
|
|
|
28,037
|
|
|
21,634
|
|
Total non-current
assets
|
|
|
47,372
|
|
|
38,188
|
|
Total
assets
|
|
$
|
60,158
|
|
$
|
49,343
|
|
|
LIABILITIES
|
|
|
|
|
|
|
|
Current portion of
long-term debt
|
|
$
|
2,940
|
|
$
|
2,417
|
|
Current portion of
contingent liabilities
|
|
|
325
|
|
|
331
|
|
Accounts
payable
|
|
|
832
|
|
|
718
|
|
Deferred
revenue
|
|
|
6,381
|
|
|
6,763
|
|
Accrued payroll and
related liabilities
|
|
|
2,370
|
|
|
1,817
|
|
Accrued sales, use
and income taxes
|
|
|
326
|
|
|
297
|
|
Other accrued
liabilities
|
|
|
899
|
|
|
677
|
|
Current portion of
capital lease obligations
|
|
|
47
|
|
|
50
|
|
Total current
liabilities
|
|
|
14,120
|
|
|
13,070
|
|
Long-term
debt
|
|
|
12,588
|
|
|
6,658
|
|
Long-term portion of
contingent liabilities
|
|
|
1,244
|
|
|
60
|
|
Capital lease
obligations
|
|
|
28
|
|
|
63
|
|
Other long-term
liabilities
|
|
|
130
|
|
|
166
|
|
Total non-current
liabilities
|
|
|
13,990
|
|
|
6,947
|
|
Total
liabilities
|
|
|
28,110
|
|
|
20,017
|
|
|
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY
|
|
|
|
|
|
|
|
Cumulative preferred
stock, par value $.001 per share, 1,000,000 shares authorized; 0
shares issued and outstanding at April 30, 2017 and July 31, 2016,
respectively
|
|
|
—
|
|
|
—
|
|
Junior preferred
stock, par value $.001 per share, 100,000 shares authorized; 0
shares issued and outstanding at April 30, 2017 and July 31, 2016,
respectively
|
|
|
—
|
|
|
—
|
|
Common stock, par
value $.001 per share, 25,000,000 shares authorized; 17,421,719
and 17,310,763 shares issued and outstanding at April 30,
2017 and July 31, 2016, respectively
|
|
|
17
|
|
|
17
|
|
Additional paid-in
capital
|
|
|
116,062
|
|
|
115,364
|
|
Accumulated
deficit
|
|
|
(84,027)
|
|
|
(86,050)
|
|
Other accumulated
comprehensive income
|
|
|
(4)
|
|
|
(5)
|
|
Total
shareholders' equity
|
|
|
32,048
|
|
|
29,326
|
|
Total liabilities and
shareholders' equity
|
|
$
|
60,158
|
|
$
|
49,343
|
|
ARI Network
Services, Inc.
|
|
Consolidated
Statements of Cash Flows
|
|
(Dollars in
Thousands)
|
|
(Unaudited)
|
|
|
Nine months ended
April 30
|
|
|
2017
|
|
2016
|
|
Operating
activities:
|
|
|
|
|
|
|
|
Net income
|
|
$
|
2,023
|
|
$
|
1,285
|
|
Adjustments to
reconcile net income to net cash provided by operating
activities:
|
|
|
|
|
|
|
|
Amortization of
software products
|
|
|
1,783
|
|
|
1,571
|
|
Amortization of
deferred loan fees and imputed interest expense
|
|
|
59
|
|
|
34
|
|
Depreciation and
other amortization
|
|
|
2,057
|
|
|
1,800
|
|
Gain on change in
fair value of earn-out receivable and payable
|
|
|
-
|
|
|
(5)
|
|
Provision for bad
debt allowance
|
|
|
11
|
|
|
80
|
|
Deferred income
taxes
|
|
|
371
|
|
|
860
|
|
Stock based
compensation
|
|
|
476
|
|
|
316
|
|
Net change in assets
and liabilities:
|
|
|
|
|
|
|
|
Trade
receivables
|
|
|
(130)
|
|
|
(308)
|
|
Work in process,
prepaid expenses and other
|
|
|
(77)
|
|
|
(51)
|
|
Accounts
payable
|
|
|
59
|
|
|
(145)
|
|
Deferred
revenue
|
|
|
(425)
|
|
|
(252)
|
|
Accrued payroll and
related liabilities
|
|
|
608
|
|
|
342
|
|
Accrued taxes and
other accrued liabilities
|
|
|
217
|
|
|
16
|
|
Net cash provided
by operating activities
|
|
$
|
7,032
|
|
$
|
5,543
|
|
Investing
activities:
|
|
|
|
|
|
|
|
Purchase of
equipment, software and leasehold improvements
|
|
|
(235)
|
|
|
(557)
|
|
Cash paid for net
assets related to acquisitions
|
|
|
(11,066)
|
|
|
-
|
|
Cash paid for
contingent liabilities related to acquisitions
|
|
|
(261)
|
|
|
(505)
|
|
Software development
costs capitalized
|
|
|
(1,521)
|
|
|
(1,310)
|
|
Net cash used in
investing activities
|
|
$
|
(13,083)
|
|
$
|
(2,372)
|
|
Financing
activities:
|
|
|
|
|
|
|
|
Payments on long-term
debt
|
|
$
|
(1,658)
|
|
$
|
(912)
|
|
Borrowings under
long-term debt
|
|
|
8,081
|
|
|
-
|
|
Payments of capital
lease obligations
|
|
|
(38)
|
|
|
(165)
|
|
Proceeds from
exercise of common stock options and warrants
|
|
|
117
|
|
|
66
|
|
Net cash provided
by (used in) financing activities
|
|
$
|
6,502
|
|
$
|
(1,011)
|
|
Effect of foreign
currency exchange rate changes on cash
|
|
|
(14)
|
|
|
(4)
|
|
Net change in cash
and cash equivalents
|
|
|
437
|
|
|
2,156
|
|
Cash and cash
equivalents at beginning of period
|
|
|
5,118
|
|
|
2,284
|
|
Cash and cash
equivalents at end of period
|
|
$
|
5,555
|
|
$
|
4,440
|
|
Cash paid for
interest
|
|
$
|
392
|
|
$
|
338
|
|
Cash paid for
income taxes
|
|
$
|
106
|
|
$
|
45
|
|
ARI Network
Services, Inc.
|
|
|
|
|
|
|
|
Reconciliation of
Non-Gaap Measures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings before
interest, taxes, depreciation and amortization (EBITDA) and
Adjusted EBITDA for the three, nine and
twelve months ended
April 30, 2017 and 2016, respectively:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EBITDA:
|
FY2017
|
|
FY2016
|
|
FY2017
|
|
FY2016
|
|
FY2017
|
|
FY2016
|
|
|
|
|
|
|
|
Q3
|
|
Q3
|
|
YTD
|
|
YTD
|
|
TTM
|
|
TTM
|
|
|
|
|
|
|
|
Net Income
(loss)
|
$
|
1,425
|
|
$
|
448
|
|
$
|
2,023
|
|
$
|
1,285
|
|
$
|
2,481
|
|
$
|
1,653
|
|
|
|
|
|
|
|
Interest
|
|
200
|
|
|
118
|
|
|
526
|
|
|
350
|
|
|
636
|
|
|
463
|
|
|
|
|
|
|
|
Amortization of
software products
|
|
633
|
|
|
531
|
|
|
1,783
|
|
|
1,571
|
|
|
2,320
|
|
|
2,034
|
|
|
|
|
|
|
|
Other depreciation
and amortization
|
|
744
|
|
|
601
|
|
|
2,057
|
|
|
1,800
|
|
|
2,664
|
|
|
2,311
|
|
|
|
|
|
|
|
Loss on debt
extinguishment
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
|
|
|
|
|
Loss on FMV of
Warrant Derivatives
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
|
|
|
|
|
Loss on impairment of
long-lived assets
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
|
|
|
|
|
Income
taxes
|
|
(129)
|
|
|
368
|
|
|
389
|
|
|
972
|
|
|
768
|
|
|
1,177
|
|
|
|
|
|
|
|
EBITDA
|
$
|
2,873
|
|
$
|
2,066
|
|
$
|
6,778
|
|
$
|
5,978
|
|
$
|
8,869
|
|
$
|
7,638
|
|
|
|
|
|
|
|
Stock-based
compensation
|
|
153
|
|
|
113
|
|
|
476
|
|
|
316
|
|
|
587
|
|
|
457
|
|
|
|
|
|
|
|
Adjusted
EBITDA
|
$
|
3,026
|
|
$
|
2,179
|
|
$
|
7,254
|
|
$
|
6,294
|
|
$
|
9,456
|
|
$
|
8,095
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings before
interest, taxes, depreciation and amortization (EBITDA) and
Adjusted EBITDA for the following fiscal quarters:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4/30/17
|
|
1/31/17
|
|
10/31/16
|
|
7/31/16
|
|
4/30/16
|
|
1/31/16
|
|
10/31/15
|
|
7/31/15
|
|
Q3
|
|
Q2
|
|
Q1
|
|
Q4
|
|
Q3
|
|
Q2
|
|
Q1
|
|
Q4
|
|
Quarterly:
|
2017
|
|
2017
|
|
2017
|
|
2016
|
|
2016
|
|
2016
|
|
2016
|
|
2015
|
|
Net Income
(loss)
|
$
|
1,425
|
|
$
|
242
|
|
$
|
356
|
|
$
|
458
|
|
$
|
448
|
|
$
|
448
|
|
$
|
389
|
|
$
|
368
|
|
Interest
|
|
200
|
|
|
218
|
|
|
108
|
|
|
110
|
|
|
118
|
|
|
120
|
|
|
112
|
|
|
113
|
|
Amortization of
software products
|
|
633
|
|
|
628
|
|
|
522
|
|
|
537
|
|
|
531
|
|
|
544
|
|
|
496
|
|
|
463
|
|
Other depreciation
and amortization
|
|
744
|
|
|
738
|
|
|
575
|
|
|
607
|
|
|
601
|
|
|
590
|
|
|
609
|
|
|
511
|
|
Loss on debt
extinguishment
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Loss on FMV of
Warrant Derivatives
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Loss on impairment of
long-lived assets
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Income
taxes
|
|
(129)
|
|
|
213
|
|
|
305
|
|
|
379
|
|
|
368
|
|
|
305
|
|
|
299
|
|
|
205
|
|
EBITDA
|
$
|
2,873
|
|
$
|
2,039
|
|
$
|
1,866
|
|
$
|
2,091
|
|
$
|
2,066
|
|
$
|
2,007
|
|
$
|
1,905
|
|
$
|
1,660
|
|
Stock-based
compensation
|
|
153
|
|
|
174
|
|
|
149
|
|
|
111
|
|
|
113
|
|
|
88
|
|
|
115
|
|
|
141
|
|
Adjusted
EBITDA
|
$
|
3,026
|
|
$
|
2,213
|
|
$
|
2,015
|
|
$
|
2,202
|
|
$
|
2,179
|
|
$
|
2,095
|
|
$
|
2,020
|
|
$
|
1,801
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trailing Twelve
Months (TTM):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income
(loss)
|
$
|
2,481
|
|
`
|
1,504
|
|
$
|
1,710
|
|
$
|
1,743
|
|
$
|
1,653
|
|
$
|
1,544
|
|
$
|
1,356
|
|
$
|
1,071
|
|
Interest
|
|
636
|
|
|
554
|
|
|
456
|
|
|
460
|
|
|
463
|
|
|
468
|
|
|
488
|
|
|
465
|
|
Amortization of
software products
|
|
2,320
|
|
|
2,218
|
|
|
2,134
|
|
|
2,108
|
|
|
2,034
|
|
|
1,961
|
|
|
1,970
|
|
|
2,023
|
|
Other depreciation
and amortization
|
|
2,664
|
|
|
2,521
|
|
|
2,373
|
|
|
2,407
|
|
|
2,311
|
|
|
2,175
|
|
|
1,993
|
|
|
1,756
|
|
Loss on debt
extinguishment
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Loss on FMV of
Warrant Derivatives
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Loss on impairment of
long-lived assets
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Income
taxes
|
|
768
|
|
|
1,265
|
|
|
1,357
|
|
|
1,351
|
|
|
1,177
|
|
|
1,052
|
|
|
1,021
|
|
|
811
|
|
EBITDA
|
$
|
8,869
|
|
$
|
8,062
|
|
$
|
8,030
|
|
$
|
8,069
|
|
$
|
7,638
|
|
$
|
7,200
|
|
$
|
6,828
|
|
$
|
6,126
|
|
Stock-based
compensation
|
|
587
|
|
|
547
|
|
|
461
|
|
|
427
|
|
|
457
|
|
|
439
|
|
|
458
|
|
|
446
|
|
Adjusted
EBITDA
|
$
|
9,456
|
|
$
|
8,609
|
|
$
|
8,491
|
|
$
|
8,496
|
|
$
|
8,095
|
|
$
|
7,639
|
|
$
|
7,286
|
|
$
|
6,572
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/ari-network-services-reports-fiscal-2017-third-quarter-results-300471310.html
SOURCE ARI Network Services, Inc.