ARE Holdings Inc
F:A19
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Income Statement
Earnings Waterfall
ARE Holdings Inc
Income Statement
ARE Holdings Inc
| Jun-2010 | Sep-2010 | Dec-2010 | Mar-2011 | Jun-2011 | Sep-2011 | Dec-2011 | Mar-2012 | Jun-2012 | Sep-2012 | Dec-2012 | Mar-2013 | Jun-2013 | Sep-2013 | Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Mar-2020 | Jun-2020 | Sep-2020 | Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | Jun-2024 | Sep-2024 | Dec-2024 | Mar-2025 | Jun-2025 | Sep-2025 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Expense |
10
|
19
|
26
|
36
|
35
|
37
|
40
|
37
|
33
|
29
|
26
|
26
|
27
|
26
|
24
|
22
|
22
|
35
|
44
|
54
|
0
|
0
|
0
|
127
|
0
|
0
|
0
|
265
|
0
|
0
|
0
|
381
|
0
|
0
|
0
|
1 102
|
0
|
0
|
0
|
59
|
0
|
0
|
0
|
84
|
0
|
0
|
0
|
116
|
0
|
0
|
0
|
132
|
0
|
0
|
0
|
167
|
0
|
0
|
0
|
194
|
0
|
0
|
|
| Revenue |
64 717
N/A
|
73 330
+13%
|
79 937
+9%
|
110 504
+38%
|
118 953
+8%
|
130 766
+10%
|
143 683
+10%
|
151 094
+5%
|
142 470
-6%
|
127 670
-10%
|
110 181
-14%
|
96 368
-13%
|
94 676
-2%
|
94 928
+0%
|
94 819
0%
|
94 254
-1%
|
92 749
-2%
|
98 002
+6%
|
103 824
+6%
|
111 417
+7%
|
120 668
+8%
|
122 574
+2%
|
123 000
+0%
|
119 352
-3%
|
114 684
-4%
|
108 252
-6%
|
105 995
-2%
|
106 828
+1%
|
111 503
+4%
|
112 625
+1%
|
116 571
+4%
|
115 797
-1%
|
115 234
0%
|
118 687
+3%
|
113 924
-4%
|
110 412
-3%
|
116 634
+6%
|
118 896
+2%
|
131 074
+10%
|
135 563
+3%
|
144 511
+7%
|
153 702
+6%
|
156 487
+2%
|
164 776
+5%
|
175 993
+7%
|
182 510
+4%
|
189 229
+4%
|
192 442
+2%
|
201 766
+5%
|
228 233
+13%
|
253 780
+11%
|
274 209
+8%
|
299 221
+9%
|
311 690
+4%
|
321 753
+3%
|
322 253
+0%
|
348 029
+8%
|
410 714
+18%
|
460 090
+12%
|
506 211
+10%
|
551 031
+9%
|
504 093
-9%
|
|
| Gross Profit | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cost of Revenue |
(54 295)
|
(62 202)
|
(68 667)
|
(95 079)
|
(103 521)
|
(114 803)
|
(127 581)
|
(135 003)
|
(128 346)
|
(114 465)
|
(97 092)
|
(83 557)
|
(80 368)
|
(79 720)
|
(79 520)
|
(79 018)
|
(77 885)
|
(80 847)
|
(83 782)
|
(88 340)
|
(94 465)
|
(95 650)
|
(96 168)
|
(93 394)
|
(89 685)
|
(83 377)
|
(81 052)
|
(82 520)
|
(85 835)
|
(87 531)
|
(89 870)
|
(87 500)
|
(87 007)
|
(89 983)
|
(88 431)
|
(89 691)
|
(93 979)
|
(97 778)
|
(106 746)
|
(109 372)
|
(116 403)
|
(122 693)
|
(125 940)
|
(131 962)
|
(141 423)
|
(146 942)
|
(153 965)
|
(157 783)
|
(168 459)
|
(195 219)
|
(219 907)
|
(249 887)
|
(271 894)
|
(286 883)
|
(299 740)
|
(300 895)
|
(326 714)
|
(389 189)
|
(436 048)
|
(477 267)
|
(519 660)
|
(468 676)
|
|
| Gross Profit |
10 422
N/A
|
11 128
+7%
|
11 270
+1%
|
15 425
+37%
|
15 432
+0%
|
15 963
+3%
|
16 102
+1%
|
16 091
0%
|
14 124
-12%
|
13 205
-7%
|
13 089
-1%
|
12 811
-2%
|
14 308
+12%
|
15 208
+6%
|
15 299
+1%
|
15 236
0%
|
14 864
-2%
|
17 155
+15%
|
20 042
+17%
|
23 077
+15%
|
26 203
+14%
|
26 924
+3%
|
26 832
0%
|
25 958
-3%
|
24 999
-4%
|
24 875
0%
|
24 943
+0%
|
24 308
-3%
|
25 668
+6%
|
25 094
-2%
|
26 701
+6%
|
28 297
+6%
|
28 227
0%
|
28 704
+2%
|
25 493
-11%
|
20 721
-19%
|
22 655
+9%
|
21 118
-7%
|
24 328
+15%
|
26 191
+8%
|
28 108
+7%
|
31 009
+10%
|
30 547
-1%
|
32 814
+7%
|
34 570
+5%
|
35 568
+3%
|
35 264
-1%
|
34 659
-2%
|
33 307
-4%
|
33 014
-1%
|
33 873
+3%
|
24 322
-28%
|
27 327
+12%
|
24 807
-9%
|
22 013
-11%
|
21 358
-3%
|
21 315
0%
|
21 525
+1%
|
24 042
+12%
|
28 944
+20%
|
31 371
+8%
|
35 417
+13%
|
|
| Operating Income | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating Expenses |
(3 266)
|
(3 351)
|
(3 398)
|
(4 763)
|
(4 844)
|
(4 925)
|
(4 990)
|
(4 873)
|
(4 939)
|
(5 066)
|
(5 192)
|
(5 316)
|
(5 353)
|
(5 350)
|
(5 342)
|
(5 607)
|
(5 718)
|
(8 111)
|
(10 463)
|
(12 597)
|
(15 904)
|
(16 263)
|
(16 381)
|
(15 705)
|
(19 132)
|
(18 812)
|
(18 963)
|
(14 607)
|
(22 785)
|
(22 370)
|
(22 104)
|
(14 472)
|
(14 386)
|
(14 433)
|
(12 588)
|
(7 299)
|
(9 238)
|
(7 446)
|
(8 236)
|
(7 254)
|
(8 148)
|
(8 179)
|
(7 691)
|
(7 291)
|
(8 082)
|
(8 813)
|
(8 336)
|
(7 824)
|
(8 314)
|
(8 262)
|
(8 643)
|
(6 628)
|
(10 706)
|
(10 057)
|
(10 215)
|
(8 263)
|
(8 855)
|
(8 792)
|
(8 533)
|
(9 051)
|
(10 919)
|
(10 256)
|
|
| Selling, General & Administrative |
(2 617)
|
(2 677)
|
(2 717)
|
(3 841)
|
(4 142)
|
(4 454)
|
(4 749)
|
(4 124)
|
(4 938)
|
(5 066)
|
(5 192)
|
(4 281)
|
(5 353)
|
(5 349)
|
(5 341)
|
(4 521)
|
(5 717)
|
(8 111)
|
(10 462)
|
(11 114)
|
(15 078)
|
(15 185)
|
(15 342)
|
(14 592)
|
(15 556)
|
(15 443)
|
(15 496)
|
(14 120)
|
(15 112)
|
(14 872)
|
(14 660)
|
(13 359)
|
(14 264)
|
(14 169)
|
(12 384)
|
(6 512)
|
(9 215)
|
(7 433)
|
(7 255)
|
(6 399)
|
(7 136)
|
(7 164)
|
(7 402)
|
(6 565)
|
(7 409)
|
(8 000)
|
(7 760)
|
(6 984)
|
(7 598)
|
(7 696)
|
(8 093)
|
(5 336)
|
(8 641)
|
(8 681)
|
(8 825)
|
(7 174)
|
(8 045)
|
(7 870)
|
(7 607)
|
(7 506)
|
(8 575)
|
(8 607)
|
|
| Research & Development |
(276)
|
(292)
|
(287)
|
(377)
|
0
|
0
|
0
|
(157)
|
0
|
0
|
0
|
(348)
|
0
|
0
|
0
|
(369)
|
0
|
0
|
0
|
(435)
|
0
|
0
|
0
|
(511)
|
0
|
0
|
0
|
(510)
|
0
|
0
|
0
|
(505)
|
0
|
0
|
0
|
(373)
|
0
|
0
|
0
|
(350)
|
0
|
0
|
0
|
(320)
|
0
|
0
|
0
|
(358)
|
0
|
0
|
0
|
(407)
|
0
|
0
|
0
|
(428)
|
0
|
0
|
0
|
(503)
|
0
|
0
|
|
| Depreciation & Amortization |
(373)
|
(382)
|
(394)
|
(545)
|
0
|
0
|
0
|
(592)
|
0
|
0
|
0
|
(687)
|
0
|
0
|
0
|
(716)
|
0
|
0
|
0
|
(1 046)
|
0
|
0
|
0
|
(596)
|
0
|
0
|
0
|
(585)
|
0
|
0
|
0
|
(539)
|
0
|
0
|
0
|
(352)
|
0
|
0
|
0
|
(425)
|
0
|
0
|
0
|
(378)
|
0
|
0
|
0
|
(359)
|
0
|
0
|
0
|
(302)
|
0
|
0
|
0
|
(652)
|
0
|
0
|
0
|
(704)
|
0
|
0
|
|
| Other Operating Expenses |
0
|
0
|
0
|
0
|
(702)
|
(471)
|
(241)
|
0
|
(1)
|
0
|
0
|
0
|
0
|
(1)
|
(1)
|
(1)
|
(1)
|
0
|
(1)
|
(2)
|
(826)
|
(1 078)
|
(1 039)
|
(6)
|
(3 576)
|
(3 369)
|
(3 467)
|
608
|
(7 673)
|
(7 498)
|
(7 444)
|
(69)
|
(122)
|
(264)
|
(204)
|
(62)
|
(23)
|
(13)
|
(981)
|
(80)
|
(1 012)
|
(1 015)
|
(289)
|
(28)
|
(673)
|
(813)
|
(576)
|
(123)
|
(716)
|
(566)
|
(550)
|
(583)
|
(2 065)
|
(1 376)
|
(1 390)
|
(9)
|
(810)
|
(922)
|
(926)
|
(338)
|
(2 344)
|
(1 649)
|
|
| Operating Income |
7 156
N/A
|
7 777
+9%
|
7 872
+1%
|
10 662
+35%
|
10 588
-1%
|
11 038
+4%
|
11 112
+1%
|
11 218
+1%
|
9 185
-18%
|
8 139
-11%
|
7 897
-3%
|
7 495
-5%
|
8 955
+19%
|
9 858
+10%
|
9 957
+1%
|
9 629
-3%
|
9 146
-5%
|
9 044
-1%
|
9 579
+6%
|
10 480
+9%
|
10 299
-2%
|
10 661
+4%
|
10 451
-2%
|
10 253
-2%
|
5 867
-43%
|
6 063
+3%
|
5 980
-1%
|
9 701
+62%
|
2 883
-70%
|
2 724
-6%
|
4 597
+69%
|
13 825
+201%
|
13 841
+0%
|
14 271
+3%
|
12 905
-10%
|
13 422
+4%
|
13 417
0%
|
13 672
+2%
|
16 092
+18%
|
18 937
+18%
|
19 960
+5%
|
22 830
+14%
|
22 856
+0%
|
25 523
+12%
|
26 488
+4%
|
26 755
+1%
|
26 928
+1%
|
26 835
0%
|
24 993
-7%
|
24 752
-1%
|
25 230
+2%
|
17 694
-30%
|
16 621
-6%
|
14 750
-11%
|
11 798
-20%
|
13 095
+11%
|
12 460
-5%
|
12 733
+2%
|
15 509
+22%
|
19 893
+28%
|
20 452
+3%
|
25 161
+23%
|
|
| Pre-Tax Income | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest Income Expense |
94
|
(114)
|
(117)
|
(31)
|
(132)
|
13
|
(336)
|
(161)
|
(121)
|
(167)
|
181
|
277
|
254
|
352
|
423
|
303
|
194
|
200
|
150
|
32
|
43
|
(77)
|
(102)
|
(188)
|
(337)
|
(301)
|
(323)
|
(287)
|
(247)
|
(252)
|
(379)
|
(381)
|
(488)
|
(596)
|
(780)
|
(1 091)
|
(975)
|
(820)
|
(496)
|
(352)
|
(208)
|
(56)
|
59
|
337
|
118
|
(26)
|
(12)
|
(64)
|
127
|
(697)
|
(873)
|
(945)
|
(237)
|
60
|
(22)
|
59
|
625
|
892
|
2 151
|
2 429
|
1 222
|
797
|
|
| Non-Reccuring Items |
(64)
|
(52)
|
(16)
|
(109)
|
2
|
116
|
(62)
|
(321)
|
(544)
|
(676)
|
(514)
|
(397)
|
(152)
|
(196)
|
(178)
|
(98)
|
(112)
|
(45)
|
(103)
|
(856)
|
0
|
0
|
0
|
(4 196)
|
0
|
0
|
0
|
(7 663)
|
0
|
0
|
0
|
(34)
|
0
|
0
|
0
|
20
|
0
|
0
|
0
|
(872)
|
0
|
0
|
0
|
(682)
|
0
|
0
|
0
|
(596)
|
0
|
0
|
0
|
(796)
|
0
|
0
|
0
|
(728)
|
0
|
0
|
0
|
(1 840)
|
0
|
0
|
|
| Gain/Loss on Disposition of Assets |
1
|
1
|
6
|
7
|
6
|
6
|
2
|
2
|
(56)
|
(56)
|
(55)
|
(48)
|
11
|
11
|
13
|
8
|
6
|
6
|
6
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(63)
|
0
|
0
|
0
|
959
|
0
|
0
|
0
|
196
|
0
|
0
|
0
|
(1 779)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Total Other Income |
10
|
19
|
23
|
13
|
15
|
15
|
9
|
72
|
82
|
78
|
83
|
22
|
25
|
23
|
20
|
54
|
46
|
72
|
71
|
61
|
64
|
36
|
28
|
(1)
|
0
|
0
|
0
|
0
|
0
|
0
|
1
|
0
|
0
|
0
|
(2)
|
0
|
0
|
(63)
|
(52)
|
0
|
(48)
|
8
|
(3)
|
(1)
|
1 050
|
1 173
|
1 158
|
1
|
528
|
(1 086)
|
(2 877)
|
(1 525)
|
(3 304)
|
(1 807)
|
0
|
0
|
0
|
0
|
(1)
|
1
|
0
|
2
|
|
| Pre-Tax Income |
7 197
N/A
|
7 631
+6%
|
7 768
+2%
|
10 542
+36%
|
10 479
-1%
|
11 188
+7%
|
10 725
-4%
|
10 810
+1%
|
8 546
-21%
|
7 318
-14%
|
7 592
+4%
|
7 349
-3%
|
9 093
+24%
|
10 048
+11%
|
10 235
+2%
|
9 896
-3%
|
9 280
-6%
|
9 277
0%
|
9 703
+5%
|
9 717
+0%
|
10 406
+7%
|
10 620
+2%
|
10 377
-2%
|
5 868
-43%
|
5 530
-6%
|
5 762
+4%
|
5 657
-2%
|
1 751
-69%
|
2 636
+51%
|
2 472
-6%
|
4 219
+71%
|
13 410
+218%
|
13 353
0%
|
13 675
+2%
|
12 123
-11%
|
12 351
+2%
|
12 441
+1%
|
12 788
+3%
|
15 544
+22%
|
17 650
+14%
|
19 704
+12%
|
22 782
+16%
|
22 912
+1%
|
26 136
+14%
|
27 656
+6%
|
27 902
+1%
|
28 074
+1%
|
26 372
-6%
|
25 648
-3%
|
22 969
-10%
|
21 480
-6%
|
12 649
-41%
|
13 080
+3%
|
13 004
-1%
|
11 776
-9%
|
12 426
+6%
|
13 085
+5%
|
13 625
+4%
|
17 659
+30%
|
20 483
+16%
|
21 675
+6%
|
25 960
+20%
|
|
| Net Income | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Tax Provision |
(2 955)
|
(3 190)
|
(3 238)
|
(4 395)
|
(4 423)
|
(4 756)
|
(4 667)
|
(4 884)
|
(3 953)
|
(3 324)
|
(3 251)
|
(2 831)
|
(3 410)
|
(3 808)
|
(3 894)
|
(3 927)
|
(3 696)
|
(3 643)
|
(3 810)
|
(3 875)
|
(3 984)
|
(3 932)
|
(3 696)
|
(2 883)
|
(2 617)
|
(2 529)
|
(2 430)
|
(2 837)
|
(3 233)
|
(3 270)
|
(3 627)
|
(3 956)
|
(3 907)
|
(4 001)
|
(3 872)
|
(4 078)
|
(4 371)
|
(4 732)
|
(5 745)
|
(6 230)
|
(6 684)
|
(7 315)
|
(7 073)
|
(411)
|
(720)
|
(756)
|
(742)
|
(7 636)
|
(7 487)
|
(6 594)
|
(6 138)
|
(4 111)
|
(4 024)
|
(4 109)
|
(3 924)
|
(3 914)
|
(3 770)
|
(3 768)
|
(4 859)
|
(6 172)
|
(6 929)
|
(7 421)
|
|
| Income from Continuing Operations |
4 242
|
4 441
|
4 530
|
6 147
|
6 056
|
6 432
|
6 058
|
5 926
|
4 593
|
3 994
|
4 341
|
4 518
|
5 683
|
6 240
|
6 341
|
5 969
|
5 584
|
5 634
|
5 893
|
5 842
|
6 422
|
6 688
|
6 681
|
2 985
|
2 913
|
3 233
|
3 227
|
(1 086)
|
(597)
|
(798)
|
592
|
9 454
|
9 446
|
9 674
|
8 251
|
8 273
|
8 070
|
8 056
|
9 799
|
11 420
|
13 020
|
15 467
|
15 839
|
25 725
|
26 936
|
27 146
|
27 332
|
18 736
|
18 161
|
16 375
|
15 342
|
8 538
|
9 056
|
8 895
|
7 852
|
8 512
|
9 315
|
9 857
|
12 800
|
14 311
|
14 746
|
18 539
|
|
| Income to Minority Interest |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(31)
|
(36)
|
0
|
(113)
|
(103)
|
(131)
|
(118)
|
(85)
|
(102)
|
(119)
|
(127)
|
(150)
|
(112)
|
(62)
|
(37)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
8
|
13
|
25
|
|
| Net Income (Common) |
4 246
N/A
|
4 441
+5%
|
4 526
+2%
|
6 144
+36%
|
6 052
-1%
|
6 431
+6%
|
6 056
-6%
|
5 926
-2%
|
4 592
-23%
|
3 993
-13%
|
4 342
+9%
|
4 518
+4%
|
5 683
+26%
|
6 239
+10%
|
6 341
+2%
|
5 969
-6%
|
5 585
-6%
|
5 602
+0%
|
5 856
+5%
|
5 774
-1%
|
6 306
+9%
|
6 584
+4%
|
6 547
-1%
|
2 867
-56%
|
2 826
-1%
|
3 128
+11%
|
3 105
-1%
|
(1 213)
N/A
|
(750)
+38%
|
(913)
-22%
|
528
N/A
|
9 416
+1 683%
|
9 445
+0%
|
9 674
+2%
|
8 370
-13%
|
9 000
+8%
|
8 662
-4%
|
8 964
+3%
|
9 128
+2%
|
9 846
+8%
|
11 442
+16%
|
13 572
+19%
|
15 404
+13%
|
25 725
+67%
|
26 934
+5%
|
27 145
+1%
|
27 331
+1%
|
18 735
-31%
|
18 161
-3%
|
16 375
-10%
|
15 342
-6%
|
10 929
-29%
|
9 057
-17%
|
8 895
-2%
|
7 851
-12%
|
24 490
+212%
|
25 290
+3%
|
25 834
+2%
|
28 778
+11%
|
14 319
-50%
|
14 761
+3%
|
18 564
+26%
|
|
| EPS (Diluted) |
132.68
N/A
|
138.78
+5%
|
141.43
+2%
|
192
+36%
|
189.12
-1%
|
200.96
+6%
|
189.25
-6%
|
185.18
-2%
|
143.5
-23%
|
124.78
-13%
|
135.68
+9%
|
141.18
+4%
|
172.21
+22%
|
189.06
+10%
|
192.15
+2%
|
180.87
-6%
|
169.24
-6%
|
169.75
+0%
|
177.45
+5%
|
176.86
0%
|
191.09
+8%
|
199.51
+4%
|
198.39
-1%
|
43.74
-78%
|
85.63
+96%
|
94.78
+11%
|
94.09
-1%
|
-18.6
N/A
|
-22.72
-22%
|
-27.66
-22%
|
15.52
N/A
|
134.95
+770%
|
236.12
+75%
|
241.85
+2%
|
212.79
-12%
|
113.59
-47%
|
219.46
+93%
|
227.03
+3%
|
115.59
-49%
|
124.25
+7%
|
144.42
+16%
|
171.29
+19%
|
194.41
+13%
|
322.91
+66%
|
303.28
-6%
|
307.02
+1%
|
310.72
+1%
|
211.65
-32%
|
205.87
-3%
|
187.61
-9%
|
177.95
-5%
|
125.65
-29%
|
104.91
-17%
|
103.03
-2%
|
90.94
-12%
|
283.66
+212%
|
330.87
+17%
|
338.05
+2%
|
287.03
-15%
|
169.96
-41%
|
192.66
+13%
|
211.24
+10%
|
|