ARI Network Services (ARIS.OB) Thursday reported third-quarter net income of $210 thousand or $0.03 per share, compared to $541 thousand or $0.07 per share in the third quarter last year.
The company said the decline was largely due to a $433 thousand gain on the disposition of a component of the business recognized in the third quarter last year that did not recur in fiscal year 2012.
Total revenues for the third quarter grew 6.7 percent to $5.7 million from $5.4 million in the third quarter last year.
Total operating expenses for the quarter increased to $4.0 million from $3.6 million last year, as a result of investments made in product research and development.
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