The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Fri Oct 28, 2016
MILWAUKEE - ARI Network Services, Inc. has reported financial results for its fiscal fourth quarter and fiscal year ended July 31.
Highlights of the fiscal year include the following:
Revenue increased 17.9 percent to $47.7 million, which compares with $40.4 million for the same period last year. Recurring revenues increased 20.4 percent and were $43.9 million, or 92.1 percent of revenue, compared with $36.5 million, or 90.2 percent of revenue, for the same period last year.
Operating income was $3.5 million, compared with $2.3 million for the same period last year, an increase of 53.2 percet. Net income was $1.7 million, compared with net income of $1.1 million last year. The company produced earnings per share of $0.10 versus $0.07 in the prior year.
Adjusted EBITDA, a non-GAAP measure, was $8.5 million or 17.8 percent of revenue compared with Adjusted EBITDA of $6.6 million or 16.3 percent of revenue in the same period last year, an increase of 29.3 percent.
Cash generated from operations was $7.7 million, compared with $6.3 million for the same period last year, an increase of 22.4 percent.
"I am proud of the ARI team who have worked hard to consistently deliver improving performance throughout the year," ARI President and CEO Roy Olivier says. "We continue to focus on executing our strategy, and the company's financial performance in the fourth quarter and fiscal 2016 are representative of our continued ability to deliver outstanding results. In the fourth quarter, I am delighted to report that our annualized churn rates trended down to 13.1 percent, the lowest rate in the last seven quarters. This gives us further confidence in our ability to grow organic revenues at a faster pace as we head into fiscal 2017."
The fourth quarter highlights include a revenue increase of 12 percent to $12.2 million from $10.9 million during the same period last year.
Operating income was $942,000 compared with $686,000, an increase of 37.3 percent. Net income increased 24.5 percent to $458,000, or $0.03 per share, compared with $368,000 or $0.02 per share.
"In fiscal 2016, we focused on integrating the acquisitions we completed in fiscal 2015," ARI CFO William Nurthen says. "The result was that we were able to expand our margins and improve our cash flow performance. Through the course of fiscal 2016, we generated cash from operations of $7.7 million and reduced our net debt by $4.5 million. We accomplished all this, while at the same time making significant investments in product development and operational scale, which leaves us well positioned to continue to grow and leverage the business in the years to come."