Arkona Reports Q1 Financial Results
Arkona Inc., a
web-based dealer management solutions company for the automobile industry,
announced record revenues and profitability for its first fiscal quarter.
The company reported total revenue of $1,103,242 for the three-month period
ended June 30, 2003 as compared to revenue for the same period last year of
$641,720. The company says this represents a 72 percent increase in revenues. Net income for the
same three-month period was $130,939 versus a net loss for the same period
last year of ($451,685).
"Arkona is emerging as a stronger, bolder competitor with our sights set
firmly on leadership and growth," stated Alan Rudd, CEO, Arkona. "Adherence
to our business model is working, and we are seeing a steady increase in
recurring monthly revenues and in the number of new dealer installations.
Our continued growth and success lie in our superior web-based services and
solutions. Dealers see these as a great value and as a platform that gives
them a distinct advantage over traditional DMS offerings."
Arkona says it continues to expand its customer base with more than 300 clients
operating on the Arkona platform in the United States.
About ARKONA Inc.
Arkona says it was the first to offer a true Application Services Provider (ASP)
solution for the automotive industry and continues to
provide e-business solutions for automobile dealers. For
more information visit Arkona's Web site at www.arkona.com.
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