ARI reported Q1 (10/31/2006) results this morning. They were OK. Sales about flat and made $225,000 or $.03 per share compared to $498,000 or $.07 per share in 2005 (all earnings are un-taxed).
Earning were down because they appear to be trying to grow the business which is good.

Valuation stayed at $5.28 per share and they had $.24 of net cash.
BUY