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NetSol Technologies, Inc. Message Board

  • accountislate accountislate Nov 14, 2012 8:08 AM Flag

    GOING TO $15 IN A HURRY.......RECORD $11.1 M..vs $6.6 M& 12C/SHARE NET vs 30c/SHARE LOSS....REITERATES $46 - $49 M 2013 GUIDANCE

    stock is priced for a loss because preannouncement only mentioned revenues and not net income. The general consensus was a loss for a loss but they beat on everything!!

    Congratulations NTWK!!

    Reiterated 2013 guidance is 40% \higher than in 2012!!!

    Only 6 PE.....Fair value is $16!!!!

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    • The chart/technicals will look a lot better daily and the inevitable huge breakout will occur momentarily. Just have your shares on hand for the upcoming windfall

    • I agree.....after the customary initial manipulation the MMs will let her fly....They have been accumulating at the expense of retail fools for weeks now

    • Record First-Quarter Revenue Reaches $11.1 Million vs $6.2 Million Fiscal 1Q 2012
      Net Income $929,000, or $0.12 per Diluted Share vs 30c/share loss in 1Q 2013
      EBITDA Advances to $2.5 Million, or EBITDA per Diluted Share of $0.33
      Reiterates Fiscal 2013 Annual Revenue Guidance of $46 million to $49 million;
      Earnings per Diluted Share of $0.80 to $1.00
      CALABASAS, Calif., Nov. 14, 2012 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. (NTWK), a worldwide provider of global IT and enterprise application solutions, today reported financial results for its fiscal 2013 first quarter ended September 30, 2012.
      Fiscal 2013 First-Quarter Financial Results
      Total first quarter revenue rose to $11.1 million, the highest first quarter in the company's history, as a result of higher services revenue and a recovery in licensee revenue. This compares with total revenue of $6.2 million in the first quarter of fiscal 2012.
      "NetSol's record first quarter revenue underscores the success of our initiative to build out service and delivery capabilities in Bangkok and China," said Najeeb Ghauri, CEO of NetSol. "Our record results also reinforce the continued demand for our core leasing solution throughout Asia, where we have recently completed a number of NFS(TM) implementations."
      License revenue increased to $3.2 million from $1.1 million in the comparable first quarter of fiscal 2012, representing new agreements with fortune 500 companies in the Asia Pacific Region.
      Maintenance revenue was $2.0 million, approximately in line with the same period last fiscal year.
      Services revenue grew to $5.8 million from $3.1 million for the first quarter of fiscal 2012 as a result of new consulting and customization projects and increased contribution from NetSol's Virtual Leasing Services subsidiary jointly acquired during the second quarter of fiscal 2012.
      Total operating expenses for the fiscal 2013 first quarter amounted to $3.8 million, down sequentially from the fourth quarter, although up from $3.0 million in the fiscal 2012 first quarter. The increase is principally due to hiring additional NFS and Vroozi personnel and larger headcount as a result of the VLS acquisition.
      Operating income for the first quarter of fiscal 2013 rose to $1.5 million, compared with an operating loss of $826,000 in the first quarter of fiscal 2012.
      NetSol achieved net income of $929,000 for the fiscal first quarter, equal to $0.12 per diluted share, compared with a net loss of $1.5 million, or $0.26 per share, in the comparable period of the prior fiscal year. This includes a deduction of net income by $332,000 for non-controlling interest, compared with $137,000 in the comparative period. Weighted average number of diluted shares outstanding for the period was 7.6 million shares, compared with 5.6 million shares for the first quarter of fiscal 2012.
      The net EBITDA (a non-GAAP measure), was $2.5 million for the fiscal 2013 first quarter, versus a loss of $234,000 for the fiscal 2012 first quarter. The reconciliation of net EBITDA to net income, the most comparable non-GAAP financial measure, as well as a further explanation about adjusted EBITDA, is included in the financial tables at the end of this news release.
      NetSol's cash and cash equivalents balance rose to $8.0 million at September 30, 2012, compared with $7.6 million at June 30, 2012.
      2012 First-Quarter Highlights:
      • Received new orders for NetSol Financial Suite (NFS(TM)) solution from two new customers, representing more than $4 million in combined license, maintenance, and service billings;
      • Won a new contract in Europe to provide a Point-of-Sale solution to an existing bank client to support their entry into vehicle finance;
      • Completed NFS implementations in China with Mercedes-Benz Leasing, Chongqing Auto Finance and JAC Santander;
      • Completed a custom projects including one LeaseSoft migration project with a European Bank ;
      • Secured and delivered a leasing and finance consulting project with a Mexico-based subsidiary of one of the largest commercial truck manufacturing companies in the world and completed a consulting engagement with Mercedes-Benz China;
      • Signed a new contract in the area of information security with a leading telecom company in Pakistan and added a contract to implement a transport department automation system with the government of Punjab. The agreements are collectively valued at approximately $0.7 million; and,
      • Added key sales, marketing, and implementation personnel to further drive global market penetration and increase delivery and support capability. Most recently, Vroozi welcomed Ivy Montgomery, formerly of SAP, as vice president of marketing.
      Business and Financial Outlook
      "With our growth initiatives underway, combined with our new business pipeline visibility, I am ever confident that we will hit our revenue and profitability targets for fiscal 2013, especially considering that NetSol's second half of the year has historically been a stronger period than the first half," Ghauri said.
      The company maintains its financial guidance, anticipating growing total annual revenue to a range of approximately $46 million to $49 million for fiscal 2013, and achieving earnings per diluted share of approximately $0.80 to $1.00 for the year.

    • not even going to half that price in a hurry... it would appear right now the street is not buying it..

5.91-0.04(-0.67%)Jul 28 3:59 PMEDT