MILWAUKEE, May 25, 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!™, announced certain
preliminary unaudited financial results for its fiscal third
quarter 2017 ended April 30,
2017.
"Our preliminary results indicate that we delivered a strong
third quarter, with revenues up 12%, diluted EPS of at least double
over the prior year, and adjusted EBITDA growing 38% to 42%," said
Roy W. Olivier, ARI President and
CEO.
Preliminary Third Quarter 2017 Financial Results vs. Third
Quarter of 2016 (where applicable):
- Revenue expected to increase 12%-13% and range between
$13.4 million to $13.5 million.
- Fully diluted GAAP earnings per share expected to range between
$0.06 to $0.08, compared with
$0.03 for the third quarter of last
year. The Company completed a tax study in the quarter that is
expected to produce tax research and development credits of between
$450,000 and $650,000, or between
$0.02 and $0.04 per share.
- Adjusted EBITDA (a non-GAAP measure) to increase 38%-42% and
range between $3.0 million to $3.1
million.
- Cash flow from operations to increase 20%-23% and range between
$3.1 million to $3.2 million.
- Cash and cash equivalents at April 30,
2017 are expected to exceed $5.5
million, with debt outstanding of approximately $15.6 million.
These are preliminary financial results and remain subject to
the completion of the Company's customary quarterly close and
review procedures. Material adjustments may arise between the date
of this press release and the dates on which the Company announces
its third quarter fiscal year 2017 results and files its Form 10-Q
with the SEC.
Please refer to the note below on forward-looking statements and
the risks involved with such statements as well as the note on
non-GAAP financial measures.
B. Riley Conference Presentation
ARI announced the preliminary third quarter 2017 results in
anticipation of its previously announced presentation at the B.
Riley Institutional Investor Conference today at 3:30pm PT. The presentation will be webcast live
and may be accessed via the Company's investor relations website at
investor.arinet.com.
Fiscal 2017 Third Quarter Conference Call
ARI plans to release its full financial results for the third
quarter of fiscal 2017 after U.S. markets close on Thursday, June 8, 2017. Further details will be
announced at a later date.
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 at the Company's investor relations website.
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 23,500 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.
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SOURCE ARI Network Services, Inc.
