Fayetteville, AR, United States
Fayetteville, AR, United States
SEARCH FILTERS
Time filter
Source Type

For more information about the conference or to schedule a meeting with ARI management, please contact your B. Riley representative or call the company's investor relations team at 949.574.3860. About B. Riley & Co. B. Riley & Co., LLC is a leading investment bank which provides corporate finance, research, and sales & trading to corporate, institutional and high net worth individual clients. Investment banking services include initial, secondary and follow-on offerings, institutional private placements, and merger and acquisitions advisory services. The firm is nationally recognized for its highly ranked proprietary equity research. B. Riley & Co., LLC is a member of FINRA and SIPC. For more information, please visit http://www.brileyco.com. 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. 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 annual report on Form 10‐K for fiscal year ended July 31, 2015, 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. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/ari-network-services-to-present-at-the-18th-annual-b-riley--co-institutional-investor-conference-on-thursday-may-25-300457431.html


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. 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. 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 annual report on Form 10‐K for fiscal year ended July 31, 2015, 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. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/ari-network-services-schedules-third-quarter-fiscal-2017-earnings-release-and-conference-call-for-thursday-june-8-2017-300465920.html


News Article | August 1, 2017
Site: globenewswire.com

ST. CHARLES, Mo., Aug. 01, 2017 (GLOBE NEWSWIRE) -- American Railcar Industries, Inc. (ARI or the Company) (NASDAQ:ARII) today reported its second quarter 2017 financial results. Jeff Hollister, President and CEO of ARI, commented, "As announced in our press release in early June, we began managing our railcar leasing business in-house upon completion of the sale of our previous lease fleet manager, American Railcar Leasing (ARL). As a result, we have added personnel to increase our sales force and to support managing our lease fleet, and we feel we have a strong team in place. This group is comprised of numerous key employees including existing ARI employees, former ARL employees, and others who have joined us from elsewhere in the industry. The commercial team is led by John O'Bryan, our Chief Commercial Officer. Managing our lease fleet in-house enhances our ability to serve our customers with a complete suite of products and services to support all of their needs. Our balanced sales and lease strategy across a broad group of customers and railcar types is complemented by our strong core manufacturing business and repair services network, which together allow us to better position ourselves in the current challenging railcar market. Shipments for the second quarter of 2017 were 1,076 railcars, which represent an increase of 5.8% when compared to the same period of 2016. Furthermore, we have received orders for 798 railcars during the second quarter of 2017, bringing total orders to 1,672 railcars for the first six months of 2017. This total compares to orders for 1,568 railcars for the full year of 2016. While industry orders during the second quarter of 2017 were reported at their highest level since the second quarter of 2015, we still see softness in the tank railcar market. There are consistent levels of interest in certain hopper railcar types, but these opportunities have been and continue to be competitive. We feel we are strategically positioned with our vertically integrated business model to capitalize on limited opportunities that arise as we work with customers operating within the hopper and tank railcar markets." Total consolidated revenues were $109.0 million for the second quarter of 2017, a decrease of 28% when compared to $150.5 million for the same period in 2016. This decrease was due to decreased revenues in the manufacturing segment, partially offset by slightly increased revenues in the railcar leasing and railcar services segments. Manufacturing revenues were $55.1 million for the second quarter of 2017, a decrease of 44% compared to $97.5 million for the same period in 2016. This decrease was primarily driven by fewer railcar shipments for direct sale as more than half of our railcar shipments were for lease during the second quarter of 2017. Furthermore, the Company experienced a more competitive pricing environment during the second quarter of 2017 compared to the same period in 2016. During the second quarter of 2017, ARI shipped 531 railcars for direct sale and 545 railcars for lease compared to 932 railcars for direct sale and 85 railcars for lease during the same period in 2016. Railcars built for the lease fleet represented 51% of ARI’s railcar shipments during the second quarter of 2017 compared to 8% for the same period in 2016. This quarterly rate is high relative to our historical average, but it is consistent with our strategy to continue to invest in and grow our lease fleet as demand dictates in certain railcar types. Shipments and orders for railcars on long-term leases not only help us to maintain a steady level of production during the manufacturing period, but also provide a steady stream of future cash flows. Because revenues and earnings related to leased railcars are recognized over the life of the lease, our quarterly results may vary depending on the mix of lease versus direct sale railcars that we ship during a given period. Manufacturing revenues for the second quarter of 2017, on a consolidated basis, exclude $54.6 million of revenues related to railcars built for the Company's lease fleet compared to $9.3 million for the same period in 2016. Revenues related to railcars built for the Company's lease fleet increased due to a higher volume of railcars shipped for lease. Such revenues are based on an estimated fair market value of the leased railcars as if they had been sold to a third party, and are not recognized in consolidated revenues as railcar sales. Rather, lease revenues are recognized in accordance with the terms of the contract over the life of the lease. Railcar leasing revenues were $33.7 million for the second quarter of 2017, an increase of 2% over the $33.2 million for the comparable period in 2016. The primary reason for the increase in revenue was an increase in the number of railcars on lease, partially offset by a decline in weighted average lease rates. ARI had 12,414 railcars in its lease fleet as of June 30, 2017 compared to 10,641 railcars as of June 30, 2016. Railcar services revenues were $20.2 million for the second quarter of 2017, an increase of 2% compared to $19.7 million for the same period in 2016. The primary reasons for the increase in revenue were due to increased demand and additional capacity from our mobile repair operations, partially offset by decreased demand for tank railcar qualifications and tank railcar exterior paint and interior linings. Our tank railcar manufacturing facility provides us the flexibility not only to produce new railcars, but also to perform repair and retrofit services in a production line set-up offering another option for us to meet our customers' repair needs. This additional flexibility allowed us to complete certain repair projects at our tank railcar manufacturing facility during the three and six months ended June 30, 2017 that were performed to a lesser extent during the comparable periods of 2016. We also saw increased intercompany repair work for our growing lease fleet. Consolidated earnings from operations were $22.2 million for the second quarter of 2017, a decrease of 38% from the $36.0 million for the same period in 2016. Consolidated operating margins decreased to 20.3% for the second quarter of 2017 compared to 23.9% for the same period in 2016. These decreases were primarily driven by lower earnings from operations in the Company's manufacturing segment combined with slightly lower earnings from operations in the railcar leasing segment and higher selling, general and administrative costs. Manufacturing earnings from operations were $2.5 million for the second quarter of 2017 compared to earnings of $14.4 million for the same period in 2016. The decrease was primarily a result of fewer overall direct sale shipments, as discussed above, more competitive pricing on both hopper and tank railcars, and higher costs associated with lower production volumes. Profit on railcars built for the Company’s lease fleet was $4.8 million and $1.1 million for the second quarter of 2017 and 2016, respectively, and is excluded from manufacturing earnings from operations. Profit on railcars built for the Company's lease fleet is based on an estimated fair market value of revenues as if the railcars had been sold to a third party, less the cost to manufacture. Partially offsetting this decrease was a reduction of the loss contingency established in response to the FRA Revised Directive, as discussed further in our SEC filings. Railcar leasing earnings from operations were $21.6 million for the second quarter of 2017 compared to $22.9 million for the same period in 2016. This decrease was primarily due to increased maintenance costs associated with our growing lease fleet and certain railcars reassigned to other lessees and lower lease rates on certain renewals. Railcar services earnings from operations were $3.0 million for the second quarter of 2017 compared to $3.1 million for the same period in 2016. This decrease was primarily due to an unfavorable mix of work, partially offset by an increase in demand for our mobile repair services. Selling, general and administrative expenses were $9.0 million for the second quarter of 2017 compared to $7.3 million for the same period in 2016. This $1.7 million increase was primarily due to higher legal costs, a prior year credit to bad debt expense and compensation costs primarily related to the increased workforce in sales and fleet management due to the transition of managing our lease fleet in-house, partially offset by decreased commissions due to a lower mix of railcar shipments for direct sale compared to the prior year and stock-based compensation costs due to fluctuations in the Company’s stock price. Net earnings for the second quarter of 2017 were $10.9 million, or $0.57 per share compared to $19.9 million, or $1.02 per share, in the same period in 2016. This decrease was driven largely by decreased earnings from operations, as discussed above, as well as the impact of increased tax expense during the second quarter of 2017 as the Company recorded a valuation allowance of $1.0 million against a deferred tax asset related to a capital loss carryforward. This valuation allowance equates to a decrease of $0.05 per share for the second quarter of 2017. EBITDA, adjusted to exclude share-based compensation expense and other income related to short-term investment activity (Adjusted EBITDA), was $37.0 million for the second quarter of 2017 compared to $50.4 million for the comparable quarter in 2016. The decrease resulted primarily from decreased earnings from operations as discussed above. A reconciliation of the Company’s net earnings to EBITDA and Adjusted EBITDA (both non-GAAP financial measures) is set forth in the supplemental disclosure attached to this press release. Consolidated revenues for the first six months of 2017 were $223.7 million compared to $326.7 million for the comparable period in 2016. The Company shipped 1,080 direct sale railcars and 1,147 railcars built for the Company's lease fleet during the first six months of 2017 compared to 2,062 direct sale railcars and 285 railcars built for the lease fleet during the same period in 2016. Railcars built for the lease fleet represented 52% of ARI's railcar shipments in the first six months of 2017 compared to 12% for the same period in 2016. Consolidated earnings from operations for the first six months of 2017 were $44.1 million, a decrease of 43% from $76.7 million for the comparable period in 2016. Consolidated earnings from operations for the first six months of 2017 and 2016 excluded $10.9 million and $4.5 million, respectively, of profit on railcars built for the lease fleet that is eliminated in consolidation. Operating margins were 19.7% for the first six months of 2017 compared to 23.5% for the same period of 2016. These decreases were primarily driven by lower earnings from operations in the Company's manufacturing segment combined with slightly lower earnings from operations in the railcar leasing and railcar services segments and higher selling, general and administrative costs. Net earnings for the first six months of 2017 were $21.5 million, or $1.12 per share compared to $42.7 million, or $2.18 per share, for the comparable period in 2016, primarily due to decreased earnings from operations as discussed above, driven largely by the heavier mix of railcars produced for our lease fleet during the first half of 2017 and lower overall shipments. Adjusted EBITDA was $73.1 million for the first six months of 2017, a decrease of $31.8 million from $104.9 million for the comparable period in 2016. The decrease resulted primarily from decreased earnings from operations as discussed above. A reconciliation of the Company’s net earnings to EBITDA and Adjusted EBITDA (both non-GAAP financial measures) is set forth in the supplemental disclosure attached to this press release. The Company’s earnings have contributed to cash flow from operations in the first six months of 2017 of $52.2 million. As of June 30, 2017, ARI had working capital of $172.0 million, including $102.8 million of cash and cash equivalents. As of June 30, 2017, the Company had $558.4 million of debt outstanding, net of unamortized debt issuance costs of $4.8 million, and borrowing availability of $200.0 million under a revolving loan. The Company paid dividends totaling $15.3 million during the first six months of 2017. At the board meeting in July, the Company’s board of directors declared a cash dividend of $0.40 per share of common stock of the Company to shareholders of record as of September 8, 2017 that will be paid on September 22, 2017. The Company has not repurchased any shares of its common stock thus far in 2017 under its stock repurchase program. Board authorization for approximately $164.0 million remains available for further stock repurchases. ARI's backlog as of June 30, 2017 was 2,878 railcars with an estimated market value of $270.0 million. Of the total backlog, we currently expect 715 railcars, or 25%, having an estimated market value of $66.5 million, will be placed into our lease fleet. ARI will host a webcast and conference call on Tuesday, August 1, 2017 at 10:00 am (Eastern Time) to discuss the Company’s second quarter 2017 financial results. In conjunction with this press release, ARI has posted a supplemental information presentation to its website. To participate in the webcast, please log-on to ARI’s investor relations page through the ARI website at americanrailcar.com. To participate in the conference call, please dial 877-745-9389. Participants are asked to log-on to the ARI website or dial in to the conference call approximately 10 to 15 minutes prior to the start time. An audio replay of the call will also be available on the Company’s website promptly following the earnings call. ARI is a prominent North American designer and manufacturer of hopper and tank railcars. ARI provides its railcar customers with integrated solutions through a comprehensive set of high quality products and related services. ARI manufactures and sells railcars, custom designed railcar parts, and other industrial products. ARI and its subsidiaries also lease railcars manufactured by the Company to certain markets, and ARI has begun managing these lease railcars in-house. In addition, ARI and its subsidiaries provide railcar repair services through its various repair facilities, including mini-shops and mobile units, offering a range of services from full to light repair. More information about American Railcar Industries, Inc. is available on its website at americanrailcar.com or call the Investor Relations Department, 636.940.6000. This press release contains statements relating to the Company's expected financial performance, objectives, long-term strategies and/or future business prospects, events and plans that are forward-looking statements. Forward-looking statements represent the Company’s estimates and assumptions only as of the date of this press release. Such statements include, without limitation, statements regarding: various estimates we have made in preparing our financial statements, expected future trends relating to our industry, products and markets, anticipated customer demand for our products and services, trends relating to our shipments, leasing business, railcar services, revenues, profit margin, capacity, financial condition, and results of operations, trends related to shipments for direct sale versus lease, our backlog and any implication that our backlog may be indicative of our future revenues, our strategic objectives and long-term strategies, our results of operations, financial condition and the sufficiency of our capital resources, our capital expenditure plans, short- and long-term liquidity needs, ability to service our current debt obligations and future financing plans, our Stock Repurchase Program, anticipated benefits regarding the growth of our leasing business, the mix of railcars in our lease fleet and our lease fleet financings, anticipated production schedules for our products and the anticipated production schedules of our joint ventures, our plans regarding future dividends and the anticipated performance and capital requirements of our joint ventures. These forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those anticipated. Investors should not place undue reliance on forward-looking statements, which speak only as of the date they are made and are not guarantees of future performance. The payment of future dividends, if any, and the amount thereof, will be at the discretion of ARI’s board of directors and will depend upon the Company’s operating results, strategic plans, capital requirements, financial condition, provisions of its borrowing arrangements, applicable law and other factors the Company’s board of directors considers relevant. Other potential risks and uncertainties that could adversely affect our business and prospects include without limitation: our prospects in light of the cyclical nature of our business; the health of and prospects for the overall railcar industry; risks relating to our compliance with the FRA directive released September 30, 2016 and subsequently revised and superseded on November 18, 2016 (Directive), any developments related to the Directive and any costs or loss of revenue related thereto; risks relating to the ongoing transition of the management of our railcar leasing business from ARL to in-house management following completion of the ARL Sale; the risk of being unable to market or remarket railcars for sale or lease at favorable prices or on favorable terms or at all; fluctuations in commodity prices, including oil and gas; the impact, costs and expenses of any warranty claims we may be subject to now or in the future; the highly competitive nature of the manufacturing, railcar leasing and railcar services industries; the variable purchase patterns of our railcar customers and the timing of completion, customer acceptance and shipment of orders, as well as the mix of railcars for lease versus direct sale; risks relating to our compliance with, and the overall railcar industry's implementation of, United States and Canadian regulations related to the transportation of flammable liquids by rail; our ability to manage overhead and variations in production rates; our ability to recruit, retain and train qualified personnel; the impact of any economic downturn, adverse market conditions or restricted credit markets; our reliance upon a small number of customers that represent a large percentage of our revenues and backlog; fluctuations in the costs of raw materials, including steel and railcar components, and delays in the delivery of such raw materials and components; fluctuations in the supply of components and raw materials we use in railcar manufacturing; the ongoing risks related to our relationship with Mr. Carl Icahn, our principal beneficial stockholder through Icahn Enterprises L.P. (IELP), and certain of his affiliates; the risks associated with ongoing compliance with environmental, health, safety, and regulatory laws and regulations, which may be subject to change; the impact, costs and expenses of any litigation we may be subject to now or in the future; the sufficiency of our liquidity and capital resources, including long-term capital needs to support the growth of our lease fleet; the impact of repurchases pursuant to our Stock Repurchase Program on our current liquidity and the ownership percentage of our principal beneficial stockholder through IELP, Mr. Carl Icahn; the risks associated with our current joint ventures and anticipated capital needs of, and production capabilities at our joint ventures; the conversion of our railcar backlog into revenues equal to our reported estimated backlog value; the risks and impact associated with any potential joint ventures, acquisitions, strategic opportunities, dispositions or new business endeavors; the integration with other systems and ongoing management of our new enterprise resource planning system; the risks related to our and our subsidiaries' indebtedness and compliance with covenants contained in our and our subsidiaries' financing arrangements and the additional risk factors described in ARI’s filings with the Securities and Exchange Commission. The Company expressly disclaims any duty to provide updates to any forward-looking statements made in this press release, whether as a result of new information, future events or otherwise. EBITDA represents net earnings before income tax expense, interest expense (income) and depreciation of property, plant and equipment. The Company believes EBITDA is useful to investors in evaluating ARI’s operating performance compared to that of other companies in the same industry. In addition, ARI’s management uses EBITDA to evaluate operating performance. The calculation of EBITDA eliminates the effects of financing, income taxes and the accounting effects of capital spending. These items may vary for different companies for reasons unrelated to the overall operating performance of a company’s business. EBITDA is not a financial measure presented in accordance with U.S. generally accepted accounting principles (U.S. GAAP). Accordingly, when analyzing the Company’s operating performance, investors should not consider EBITDA in isolation or as a substitute for net earnings, cash flows provided by operating activities or other statement of operations or cash flow data prepared in accordance with U.S. GAAP. The calculation of EBITDA is not necessarily comparable to that of other similarly titled measures reported by other companies. Adjusted EBITDA represents EBITDA before share-based compensation expense (income) related to stock appreciation rights (SARs) and other income related to our short-term investments. Management believes that Adjusted EBITDA is useful to investors in evaluating the Company’s operating performance, and therefore uses Adjusted EBITDA for that purpose. The Company’s SARs, which settle in cash, are revalued each period based primarily upon changes in ARI’s stock price. Management believes that eliminating the expense (income) associated with share-based compensation and income associated with short-term investments allows management and ARI’s investors to understand better the operating results independent of financial changes caused by the fluctuating price and value of the Company’s common stock and short-term investments. Adjusted EBITDA is not a financial measure presented in accordance with U.S. GAAP. Accordingly, when analyzing operating performance, investors should not consider Adjusted EBITDA in isolation or as a substitute for net earnings, cash flows provided by operating activities or other statements of operations or cash flow data prepared in accordance with U.S. GAAP. The Company’s calculation of Adjusted EBITDA is not necessarily comparable to that of other similarly titled measures reported by other companies.


News Article | May 25, 2017
Site: www.prnewswire.com

Preliminary Third Quarter 2017 Financial Results vs. Third Quarter of 2016 (where applicable): 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. 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. 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. 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. 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. 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. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/ari-network-services-announces-preliminary-third-quarter-2017-results-300463514.html


News Article | June 8, 2017
Site: www.prnewswire.com

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. "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." 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. 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. 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. 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. 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


News Article | June 7, 2017
Site: www.prweb.com

ARI Network Services, Inc. (NASDAQ: ARIS) announced today that Country Clipper has selected ARI as its preferred provider for dealer websites for its network of North American dealers. For more than 30 years, Country Clipper has designed, built and marketed zero turn mowers and accessories for both lawn care professionals and residential homeowners. “This partnership allows Country Clipper to provide our dealers with customer-friendly websites that prominently feature our entire product lineup,” says Blaine Fields, National Sales Manager at County Clipper. “With ARI as our preferred website provider, we’ll work together to help our dealer network improve their online presence.” ARI OPE Dealer Websites make it easy for online shoppers to explore the entire Country Clipper product catalog with access to brochure content on Country Clipper’s entire whole goods product catalog. “We’re excited that Country Clipper has recognized ARI as its preferred provider of dealer websites,” said Paul Berkholtz, ARI’s Director of Business Development – Outdoor Power. “Country Clipper joins a long list of OEMs who trust ARI to help their dealer network Sell More Stuff!™ online and in-store.” Fully optimized for search engines and mobile browsing, ARI’s new fully responsive OPE Dealer Website platform offer industry-specific features, including enriched OEM and aftermarket brochures and parts catalogs for the industry’s leading manufacturers, a merchandise manager that allows dealers to display their inventory, service scheduling tools, eCommerce functionality and more. Dealers interested in learning more about ARI can visit arioutdoorpower.com or call 800.755.6040. 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 (P&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. About Country Clipper Country Clipper, located in Corydon, Iowa, is an innovative provider of mid-mount zero-turn mowers and accessories for lawn care professionals, and residential and estate homeowners. Building zero turn mowers since 1984 has allowed Country Clipper to build strong relationships through innovation, specialization and customer satisfaction. More information is available at http://www.countryclipper.com Images for media use only ARI Logo Hi Res| ARI Logo Low Res


"We are very excited to partner with the True Wind team. This transaction is the result of an extensive process, and we believe it represents a great outcome for our shareholders," said Roy W. Olivier, ARI president and CEO. "The investment by True Wind positions ARI to accelerate our pace of innovation and better positions ARI to capitalize on future growth opportunities." "ARI is a market leader with an experienced management team. The Company's mission-critical software, data and digital marketing solutions provide customers best-in-class technology to run their businesses," said Adam Clammer, Founding Partner at True Wind Capital. "True Wind is excited to partner with ARI and its management team to continue to deliver innovative solutions and achieve growth potential." Closing of the deal is subject to customary closing conditions including the approval of ARI shareholders. The transaction is expected to close in the third calendar quarter of 2017. Pacific Crest Securities and Houlihan Lokey are serving as financial advisors to ARI, and Godfrey & Kahn S.C. is serving as legal advisor to ARI. True Wind's legal advisor is Kirkland & Ellis LLP. Additional Information and Where to Find It ARI plans to file with the Securities and Exchange Commission (the "SEC") and furnish its shareholders a proxy statement in connection with the proposed transaction. SHAREHOLDERS OF ARI ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE TRANSACTION THAT ARI WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT ARI AND THE TRANSACTION. Investors and shareholders will be able to obtain free copies of these documents and other documents filed with the SEC by ARI through the website maintained by the SEC at www.sec.gov or by going to ARI's Investor Relations website at investor.arinet.com and clicking on the "SEC Filings" tab. This press release is neither a solicitation of proxy, an offer to purchase nor a solicitation of an offer to sell any securities, and it is not a substitute for any proxy statement or other filings that may be made with the SEC should the transaction proceed. The directors and executive officers of ARI may be deemed to be participants in the solicitation of proxies from the shareholders of ARI in connection with the proposed acquisition. Information regarding the interests of these directors and executive officers in the transaction described herein will be included in the proxy statement described above. Additional information regarding ARI's directors and executive officers is also included in ARI's definitive proxy statement for its 2017 Annual Meeting of Shareholders, which was filed with the SEC on November 28, 2016. These documents are available free of charge as described in the preceding paragraph. 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. True Wind Capital is a San Francisco-based private equity firm managing $560 million. True Wind is focused on investing in leading technology companies. True Wind is a value-added partner, providing support and expertise that is rooted in 50+ years of collective investing experience. Visit truewindcapital.com for more information. Certain statements in this news release contain "forward‐looking statements" regarding future events, including the transaction, and our future results that are subject to the safe harbors created under the Private Securities Litigation Reform Act of 1995. 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 transaction, 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, including but not limited to, (i) the risk that the proposed acquisition may not be completed in a timely manner or at all, which may adversely affect ARI's business and the price of the common stock of ARI, (ii) the failure to satisfy all of the conditions precedent to the consummation of the proposed acquisition, including, but not limited to, the required approval of the stockholders of ARI and the receipt of certain governmental or regulatory approvals, (iii) the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the merger agreement, (iv) the effect of the announcement or pendency of the transaction on ARI's business relationships, operating results and business generally, (v) risks that the proposed transaction disrupts current plans and operations and the potential difficulties in employee retention as a result of the transaction, (vi) risks related to diverting management's attention from ARI's ongoing business operations, (vii) the outcome of any legal proceedings that may be instituted against us related to the merger agreement or the acquisition and (viii) such other risks and uncertainties as identified in ARI's Annual Report on Form 10-K for the fiscal year ended July 31, 2016, as filed with the SEC. Therefore, actual results may differ materially and adversely from those expressed in any forward-looking statements. 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 no person undertakes any obligation to publicly release the result of any revisions to these forward‐looking statements except as required by law. For more information, please refer to the company's filings with the SEC. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/ari-network-services-enters-into-definitive-agreement-to-be-acquired-by-true-wind-capital-300477461.html


News Article | February 24, 2017
Site: globenewswire.com

ST. CHARLES, Mo., Feb. 24, 2017 (GLOBE NEWSWIRE) -- American Railcar Industries, Inc. (ARI or the Company) (NASDAQ:ARII) today reported its fourth quarter and full year 2016 financial results. Jeff Hollister, President and CEO of ARI, commented, “As we navigate through this current down cycle, we rely on revenues from our lease fleet and railcar services business to partially offset the softness in the market for new railcars.  Given the strategic growth of our railcar leasing segment over the past five years, we are better positioned to weather the current market than we were during the previous downturn as we now have a lease fleet of 11,268 railcars that provide a steady stream of revenues. We remain committed to manufacturing quality hopper and tank railcars and continue to adjust our production rates as needed in an effort to align them with industry demand. In addition, we continue to monitor the FRA directive closely. After actively cooperating with the FRA and expressing our concerns with the Original Directive issued on September 30, 2016, the FRA issued a Revised Directive on November 18, 2016 that both changes and supersedes the Original Directive. While significant uncertainty in the industry still exists in connection with the Revised Directive and its implementation, we continue working with the FRA, our customers and industry groups to comply with the Revised Directive, as it is currently stated.” Total consolidated revenues were $167.5 million for the fourth quarter of 2016, a decrease of 36% when compared to $260.9 million for the same period in 2015. This decrease was due to decreased revenues in the manufacturing segment, partially offset by increased revenues in the railcar leasing and railcar services segments. Manufacturing revenues were $114.9 million for the fourth quarter of 2016, a decrease of 45% compared to the same period in 2015.  This decrease was primarily driven by the impact of fewer railcar shipments for direct sale with a higher mix of hopper railcars sold. Given the decrease in both hopper and tank railcar demand and a shift in production to a larger mix of specialty railcars, railcar shipments have decreased while average selling prices have increased. During the fourth quarter of 2016, ARI shipped 1,005 direct sale railcars and 307 railcars built for the Company's lease fleet, compared to 1,885 direct sale railcars and 45 railcars built for the lease fleet during the same period in 2015.  Railcars built for the lease fleet represented 23% of ARI’s railcar shipments during the fourth quarter of 2016 compared to 2% for the same period in 2015.  Because revenues and earnings related to leased railcars are recognized over the life of the lease, ARI's quarterly results may vary depending on the mix of lease versus direct sale railcars that the Company ships during a given period. Manufacturing revenues for the fourth quarter of 2016 exclude $30.8 million of estimated revenues related to a higher volume of specialty railcars built for the Company's lease fleet compared to $5.4 million for the same period in 2015.  Estimated revenues related to railcars built for the Company's lease fleet increased due to a higher quantity of railcars built for the lease fleet during the fourth quarter of 2016 compared to the same period in 2015.  Such revenues are based on an estimated fair market value of the leased railcars as if they had been sold to a third party, and are not recognized in consolidated revenues as railcar sales. Rather lease revenues are recognized in accordance with the terms of the contract over the life of the lease. Railcar leasing revenues were $33.5 million for the fourth quarter of 2016, an increase of 2% compared to the $32.7 million for the same period in 2015. The primary reason for the increase in revenue was an increase in the number of railcars on lease, partially offset by a slight decline in weighted average lease rates compared to the same period in 2015. ARI had 11,268 railcars in its lease fleet at the end of 2016 compared to 10,362 railcars in its lease fleet at the end of 2015. Railcar services revenues for the fourth quarter of 2016 were $19.1 million, an increase of 8% over the $17.7 million for the same period in 2015. The primary reason for the increase in revenue was an increase in customer demand and volume associated with additional capacity resulting from the Company's expansion projects in its repair network that became operational and continued to ramp up in 2016. Consolidated earnings from operations were $37.4 million for the fourth quarter of 2016, a decrease of 39% over $61.6 million for the same period in 2015. Consolidated operating margins decreased to 22.3% for the fourth quarter of 2016 compared to 23.6% for the same period in 2015. These decreases were primarily driven by lower earnings from operations in the Company's manufacturing segment. Manufacturing earnings from operations were $19.5 million for the fourth quarter of 2016, compared to $42.4 million for the same period in 2015. This decrease was due to fewer overall railcar shipments for direct sale, as discussed above, more competitive pricing on both hopper and tank railcars and higher costs associated with the lower production rates at the Company's tank railcar facility. As the Company adjusts its production schedules and output of new tank railcars, it continues to monitor and control overhead spending and employee levels. Estimated profit on railcars built for the Company’s lease fleet was $1.8 million and $3.3 million for the fourth quarter of 2016 and 2015, respectively, and is excluded from manufacturing earnings from operations.  Profit on railcars built for the Company's lease fleet is based on an estimated fair market value of revenues as if the railcars had been sold to a third party, less the cost to manufacture. Partially offsetting this decrease was a reduction of the loss contingency established as of September 30, 2016 of $17.0 million to $12.3 million as of December 31, 2016, for a total reduction of expense of $4.7 million, resulting in an increase to earnings per share of $0.17. This reduction in the loss contingency primarily reflects the changes made by the FRA from the Original Directive to the Revised Directive that reduced the number of railcars that are currently required to be inspected and repaired, if necessary. Railcar leasing earnings from operations were $22.5 million for the fourth quarter of 2016 compared to $22.9 million for the same period in 2015.  This decrease was due to a slight decline in weighted average lease rates compared to 2015, partially offset by an increase in the number of railcars on lease. Railcar services earnings from operations were $2.1 million for the fourth quarter of 2016 compared to $3.3 million for the same period in 2015.  This decrease was primarily due to an unfavorable change in the mix of work at our repair facilities during the fourth quarter of 2016, partially offset by an increase in demand and volume, as discussed above. Selling, general and administrative expenses were $10.5 million for the fourth quarter of 2016 compared to $10.1 million for the same period in 2015. This $0.4 million increase was primarily due to increased incentive compensation expense, partially offset by lower costs for consulting and bad debt expenses. Net earnings for the fourth quarter of 2016 were $22.3 million, or $1.16 per share, compared to $36.2 million, or $1.82 per share, in the same period of 2015. This decrease was driven primarily by decreased consolidated earnings from operations, partially offset by a reduction in the effective tax rate during the fourth quarter of 2016, resulting in an increase to earnings per share of $0.11. EBITDA, adjusted to exclude share-based compensation and other income related to short-term investment activity (Adjusted EBITDA), was $51.8 million for the fourth quarter of 2016 compared to $75.8 million for the comparable quarter of 2015. The decrease was primarily driven by decreased earnings from operations as discussed above.  A reconciliation of the Company’s net earnings to EBITDA and Adjusted EBITDA (both non-GAAP financial measures) is set forth in the supplemental disclosure attached to this press release. Consolidated revenues for 2016 were $639.1 million compared to $889.3 million in 2015.  The Company shipped 3,922 railcars for direct sale and 914 railcars for lease in 2016 compared to 6,270 railcars for direct sale and 2,633 railcars for lease in 2015. Railcars built for the lease fleet represented 19% of ARI's railcar shipments in 2016 compared to 30% in 2015. Consolidated earnings from operations for 2016 were $130.1 million, a decrease of 43% from $226.7 million in 2015. Consolidated earnings from operations for 2016 and 2015 excluded $9.5 million and $87.7 million, respectively, of profit on railcars built for the lease fleet that is eliminated in consolidation. Consolidated operating margins were 20.4% in 2016 compared to 25.5% in 2015.  These decreases were primarily due to fewer overall direct sale shipments, with a higher mix of more hopper railcars in 2016, which generally have lower margins than tank railcars, combined with higher costs associated with the lower volumes of tank railcars.  Also contributing to these decreases was the loss contingency recognized during 2016 of $12.3 million related to the Revised Directive, as discussed above, partially offset by increased earnings due to the growth in the railcar lease fleet. Selling, general and administrative expenses were $32.3 million in 2016 compared to $30.9 million in 2015. This $1.5 million increase was primarily due to increased consulting expenses and higher depreciation, partially offset by lower bad debt and incentive compensation expense. Net earnings in 2016 were $72.7 million, or $3.74 per share, compared to $133.5 million, or $6.39 per share in 2015 due to decreased earnings from operations and a $0.9 million decrease in earnings from joint ventures as demand for the components our joint ventures produce is primarily tied to the industry's new railcar demand. Adjusted EBITDA was $188.0 million in 2016, a decrease of 33% from $278.9 million in 2015.  The decrease was primarily driven by decreased consolidated earnings from operations, in addition to the decrease in earnings from joint ventures for 2016 compared to 2015. The Company’s earnings have contributed to cash flow from operations of $180.5 million in 2016. As of December 31, 2016, ARI had working capital of $239.6 million, including $178.6 million of cash and cash equivalents. As of December 31, 2016, the Company had $571.0 million of debt outstanding, net of unamortized debt issuance costs of $4.9 million, and borrowing availability of $200.0 million under a revolving loan. The Company paid dividends totaling $31.0 million during 2016.  At the board meeting in February, the Company’s board of directors declared a cash dividend of $0.40 per share of common stock of the Company to shareholders of record as of March 17, 2017 that will be paid on March 24, 2017. The Company repurchased $28.6 million of shares of our common stock under its stock repurchase program during 2016.  Board authorization for approximately $164.0 million remains available for further share repurchases. ARI’s backlog as of December 31, 2016 was 3,813 railcars, with an estimated market value of $350.5 million. Of the total backlog, 1,637 railcars, or 43%, were subject to lease with an estimated market value of $152.2 million. ARI will host a webcast and conference call on Friday, February 24, 2017 at 10:00 am (Eastern Time) to discuss the Company’s fourth quarter 2016 financial results. In conjunction with this press release, ARI has posted a supplemental information presentation to its website. To participate in the webcast, please log-on to ARI’s investor relations page through the ARI website at americanrailcar.com. To participate in the conference call, please dial 877-745-9389. Participants are asked to log-on to the ARI website or dial in to the conference call approximately 10 to 15 minutes prior to the start time. An audio replay of the call will also be available on the Company’s website promptly following the earnings call. ARI is a prominent North American designer and manufacturer of hopper and tank railcars. ARI provides its railcar customers with integrated solutions through a comprehensive set of high quality products and related services. ARI manufactures and sells railcars, custom designed railcar parts, and other industrial products. ARI and its subsidiaries also lease railcars manufactured by the Company to certain markets. In addition, ARI and its subsidiaries provide railcar repair services through its various repair facilities, including mini-shops and mobile units, offering a range of services from full to light repair. More information about American Railcar Industries, Inc. is available on its website at americanrailcar.com or call the Investor Relations Department, 636.940.6000. This press release contains statements relating to the Company's response to governmental directives, expected financial performance, objectives, long-term strategies and/or future business prospects, events and plans that are forward-looking statements. Forward-looking statements represent the Company’s estimates and assumptions only as of the date of this press release. Such statements include, without limitation, statements regarding: various estimates we have made in preparing our financial statements, our plans, and the industry's ability, to address the Federal Railroad Administration (FRA) directive released September 30, 2016 and subsequently revised and superseded on November 18, 2016 (Directive), our plans to manage our own lease fleet and terminate our contractual agreements with ARL, expected future trends relating to our industry, products and markets, the potential impact of regulatory developments, including developments related to the Directive, anticipated customer demand for our products and services, trends relating to our shipments, leasing business, railcar services and revenues, trends related to shipments for direct sale versus lease, our strategic objectives and long-term strategies, our results of operations, financial condition and the sufficiency of our capital resources, our projects to expand our manufacturing flexibility and repair capacity, our capital expenditure plans, short- and long-term liquidity needs, ability to service our current debt obligations and future financing plans, our Stock Repurchase Program, anticipated benefits regarding the growth of our leasing business, the mix of railcars in our lease fleet and our lease fleet financings, anticipated production schedules for our products and the anticipated production schedules of our joint ventures, our backlog, our plans regarding future dividends and the anticipated performance and capital requirements of our joint ventures. These forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those anticipated. Investors should not place undue reliance on forward-looking statements, which speak only as of the date they are made and are not guarantees of future performance.  The payment of future dividends, if any, and the amount thereof, will be at the discretion of ARI’s board of directors and will depend upon the Company’s operating results, strategic plans, capital requirements, financial condition, provisions of its borrowing arrangements, applicable law and other factors the Company’s board of directors considers relevant.  Other potential risks and uncertainties that could adversely affect our business and prospects include without limitation: our prospects in light of the cyclical nature of our business; the health of and prospects for the overall railcar industry; risks relating to our compliance with the Directive, any developments related to the Directive and any costs or loss of revenue related thereto; risks relating to transitioning our management of our railcar leasing business from ARL and managing our lease fleet leading up to and after the ARL Sale; fluctuations in commodity prices, including oil and gas; the risk of being unable to market or remarket railcars for sale or lease at favorable prices or on favorable terms or at all; the impact, costs and expenses of any warranty claims we may be subject to now or in the future; the highly competitive nature of the manufacturing, railcar leasing and railcar services industries; the variable purchase patterns of our railcar customers and the timing of completion, customer acceptance and shipment of orders, as well as the mix of railcars for lease versus direct sale; risks relating to our compliance with, and the overall railcar industry's implementation of, United States and Canadian regulations related to the transportation of flammable liquids by rail; our ability to manage overhead and variations in production rates; our ability to recruit, retain and train qualified personnel; the impact of any economic downturn, adverse market conditions or restricted credit markets; our reliance upon a small number of customers that represent a large percentage of our revenues and backlog; fluctuations in the costs of raw materials, including steel and railcar components, and delays in the delivery of such raw materials and components; fluctuations in the supply of components and raw materials we use in railcar manufacturing; the ongoing risks related to our relationship with Mr. Carl Icahn, our principal beneficial stockholder through Icahn Enterprises L.P. (IELP), and certain of his affiliates; the risks associated with ongoing compliance with environmental, health, safety, and regulatory laws and regulations, which may be subject to change; the impact, costs and expenses of any litigation we may be subject to now or in the future; the sufficiency of our liquidity and capital resources, including long-term capital needs to support the growth of our lease fleet; the impact of repurchases pursuant to our Stock Repurchase Program on our current liquidity and the ownership percentage of our principal beneficial stockholder through IELP, Mr. Carl Icahn; the risks associated with our current joint ventures and anticipated capital needs of, and production capabilities at our joint ventures; the conversion of our railcar backlog into revenues equal to our reported estimated backlog value; the risks and impact associated with any potential joint ventures, acquisitions, strategic opportunities or new business endeavors; the integration with other systems and ongoing management of our new enterprise resource planning system; the risks related to our and our subsidiaries' indebtedness and compliance with covenants contained in our and our subsidiaries' financing arrangements and the additional risk factors described in ARI’s filings with the Securities and Exchange Commission. The Company expressly disclaims any duty to provide updates to any forward-looking statements made in this press release, whether as a result of new information, future events or otherwise. EBITDA represents net earnings before income tax expense, interest expense (income), loss on debt extinguishment and depreciation of property, plant and equipment. The Company believes EBITDA is useful to investors in evaluating ARI’s operating performance compared to that of other companies in the same industry. In addition, ARI’s management uses EBITDA to evaluate operating performance. The calculation of EBITDA eliminates the effects of financing, income taxes and the accounting effects of capital spending. These items may vary for different companies for reasons unrelated to the overall operating performance of a company’s business. EBITDA is not a financial measure presented in accordance with U.S. generally accepted accounting principles (U.S. GAAP). Accordingly, when analyzing the Company’s operating performance, investors should not consider EBITDA in isolation or as a substitute for net earnings, cash flows provided by operating activities or other statement of operations or cash flow data prepared in accordance with U.S. GAAP. The calculation of EBITDA is not necessarily comparable to that of other similarly titled measures reported by other companies. Adjusted EBITDA represents EBITDA before share-based compensation expense related to stock appreciation rights (SARs) and other income related to our short-term investments. Management believes that Adjusted EBITDA is useful to investors in evaluating the Company’s operating performance, and therefore uses Adjusted EBITDA for that purpose. The Company’s SARs, which settle in cash, are revalued each period based primarily upon changes in ARI’s stock price. Management believes that eliminating the expense associated with share-based compensation and income associated with short-term investments allows management and ARI’s investors to understand better the operating results independent of financial changes caused by the fluctuating price and value of the Company’s common stock and short-term investments. Adjusted EBITDA is not a financial measure presented in accordance with U.S. GAAP. Accordingly, when analyzing operating performance, investors should not consider Adjusted EBITDA in isolation or as a substitute for net earnings, cash flows provided by operating activities or other statements of operations or cash flow data prepared in accordance with U.S. GAAP. The Company’s calculation of Adjusted EBITDA is not necessarily comparable to that of other similarly titled measures reported by other companies.


Patent
ARI Inc | Date: 2015-09-02

The invention is related to a lifting device (1) for lifting grand pianos, pianos or similar heavy objects having an irregular shape into a vertical position on one of their lateral edges. The device (1) includes a frame part (5), support arms (6a-6c, 7a-7e) resting on the ground, gripping means (2) for gripping one edge of the object to be lifted, and driving means (3, 4) connected to the frame part, which are connected functionally to the gripping means (2) for pivoting the object into a vertical position by the gripping means. The support arms (6a-6c, 7a-7e) are provided with ball transfer units (8a, 8b, 13a, 13b) resting on the ground and allowing the device (1) to move freely in different directions along the ground during the lifting movement. The ball transfer units (8a, 8b, 13a, 13b) are placed radially apart from the frame part (5) into mutually different angular positions.


Patent
ARI Inc | Date: 2011-05-06

A method, apparatus, and system to apply a mineralizing agent to an asbestos containing material (ACM) after the ACM is reduced in size, particularly by spraying or injecting the mineralizing agent to a shredded ACM, is provided. The mineralizing agent may include a solution of alkali metal hydroxide, alkali metal silicate, alkali metal borate, alkaline earth borate, or mixtures thereof, which may be heated and mixed and is then delivered to the reduced size or shredded ACM using a piping system that injects the mineralizing agent downstream of an ACM shredding unit. The ACM treated with the mineralizing agent may be heated in a mineralizing furnace to convert the ACM to an essentially asbestos-free mineral. After removal from the mineralizing furnace, the mineralized material is moved to an atmosphere controlled environment where it is cooled gradually for further mineralization.

Loading ARI Inc collaborators
Loading ARI Inc collaborators