MILWAUKEE, Dec. 16, 2013 (GLOBE NEWSWIRE) -- ARI Network Services (Nasdaq:ARIS), a leading provider of website, software, and data solutions that help dealers, distributors and manufacturers Sell More Stuff! ™, reported financial results today for its fiscal 2014 first quarter ended October 31, 2013. Highlights for the fiscal first quarter included:
- Revenues for the first quarter of fiscal year 2014 were $8.2 million, a 37.3% increase over the same period last year.
- Recurring revenues for the first quarter of fiscal year 2014 were $7.7 million, a 57.7% increase over the first quarter of fiscal year 2013. As a percentage of total revenues, recurring revenues in the first quarter were 94.7% in fiscal year 2014 versus 82.5% for the same period in fiscal year 2013.
- Net income for the first quarter of fiscal year 2014 was $25,000 or $0.00 per share, compared to $113,000 or $0.01 per share for the first quarter of fiscal 2013.
- EBITDA, a non-GAAP measure, adjusted for non-cash charges, was $966,000 in the first quarter of fiscal year 2014, a decrease of 1.7% compared to the same period last year.