I sold my long position before the market opened on 11.8 after the disastrous earnings report. I have been a long investor and trader of this stock for several years and rode it up and down a couple times.
I do not trust the management team at all. I really thought they turned over a new leaf and were on the plan for growth, but realize it's a horribly run company at best, and a fraud at worst. This was the most speculative stock I owned and unfortunately I owned thousands of shares in 3 accounts. Here's the sale from just 1 of my accounts and I suppose at least I got the high $5's! :
11/08/2013 10748371709 Sold NTWK 2,900 5.64 16,356.00 0.00 16,355.71
11/08/2013 10748371707 Sold NTWK 500 5.65 2,825.00 0.00 2,824.95
11/08/2013 10748371705 Sold NTWK 100 5.82 582.00 9.99 571.99
I don't agree with most of your posts but I do here and t bought the same thing. They knew last quarter they were squeezing everything into Q4 and this would be a poor quarter. Such a big miss is mind boggling though. They should be past the stage where hiring makes them unprofitable...they just put together 4 nice quarters.
He's correct if you look at the long history here. Also, perhaps the SA article had them hold back revenue to PROPERLY report it?
Any company that loses money because they hire people is in trouble! This was a HUGE unexpected miss and NOT easily explained. Their revenue was growing, and do you now understand why they wouldn't provide guidance on last call? They knew they booked every cent they had to close out the year and that 2014 would suffer as a result.
CALABASAS, Calif., Nov. 8, 2013 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. (Nasdaq:NTWK), a worldwide provider of global IT and enterprise application solutions, today reported financial results for its fiscal 2014 first quarter ended September 30, 2013.
Fiscal 2014 First Quarter Financial Results
Total first quarter revenue amounted to $9.1 million, compared with $11.1 million in the same period last fiscal year, reflecting lower license revenue attributable to timing on the closing of certain new business transactions, as well as the company's transition to its next-generation financing and leasing solution, NFS AscentTM.
License revenue for the fiscal 2014 first quarter was $2.3 million, versus $3.2 million in the same period last year. Maintenance revenue for the fiscal 2014 first quarter increased to $2.4 million from $2.0 million last fiscal year, reflecting the completion of NFSTM implementations. Services revenue decreased to $4.4 million from $5.8 million for the first quarter of fiscal 2013, reflecting fewer license sales in the quarter.
"Results this quarter reflected a slowing of license sales for the first-generation of NFS, as new clients embrace our new, next-generation NFS Ascent platform. In the enterprise software segment, companies typically experience a phase of contraction in the sales of prior products, while next-generation platforms start to gain traction," said Najeeb Ghauri, CEO. "We are excited to have officially introduced our next-generation solution, NFS Ascent, which we believe will be a game-changer for NetSol, and is the result of more than four years of development. NFS Ascent represents the most advanced solution available in the marketplace, allowing us to leapfrog the competition. Early response from customers has been outstanding, and we are very confident in our market opportunity moving forward, with discussions well underway with potential new global customers, including in North America and Europe.
"Our current sales
Maybe a 10 year chart isn't the best time frame? Some people buy and hold long term some are happy with gains in 2 years. Look at a 10 year chart for MSFT, or worse a 13 year chart.
Earnings will be very strong. The only thing holding this back is the SA article and the potential for an earnings restatement. If they need to restate at some point Wall Street will lose all faith and it goes to $3. If not, it will be $15 by June.
I think it has EVERYTHING to do with the SA article. NTWK has restated earnings in the past and if they have to do so again....is EXACTLY why the price has been dropping daily since about 15 minutes after the SA article was published.
You are speculating earnings will be restated. I am speculating that you are wrong.
Clearly the market is rattled by the accusations but they may turn out to be nothing. The company has signed a lot of new contracts over the past year and revenue has grown - that will translate to share price once the dust settles.
If you think AMD is the best place to put your money I don't think I want to listen to your investment advice. NTWK is speculative. AMD is dead.
Guys, he only gets $20 week allowance so 2 shares is a "massive block" in his world. Please don't tease him, he rides in the short bus.