ARI released Q2 earnings this morning. Not bad. Sales were up 5% to $3.69 million, but earnings were down to $.248 million from $.524 million as they continue to invest in additional sales and marketing resourses. Our valuation fell a bit to $5.03 per share from $5.28, mostly because they bought OC-Net in Q2, which was reflected in their balance sheet, but not their P+L in Q2. They are forecasting increasing sales gains in the second half of the year, without the impact from OC-Net. OC-Net will get them some “bulk” and maybe help get them on some radar screens–and hopefully increase their earnings. For the six months of FY2007 ARI had net income of $.07 per share, untaxed. So if they can even repeat this in the second half they are at $.14 untaxed and around $.09 fully taxed. We rate this a BUY.