Netsol Signs Agreement With Major European Auto Manufacturer To Implement Financial Suite Solution In Malaysia
Agreement Further Strengthens NetSol's Presence in Fast-Growing Market
CALABASAS, CA - January 4, 2012 - NetSol Technologies, Inc. (NASDAQ: NTWK), a worldwide provider of global IT and enterprise application solutions, today announced it has signed an agreement to implement the complete NetSol Financial Suite (NFS)™ solution, including its Wholesale and Retail platforms, for a large European auto manufacturer that will provide auto-financing services throughout Malaysia.
Total value of the agreement is to exceed $2 million, which includes product licenses, business processes consulting and on-site implementation services.
"Signing an NFS agreement with a Fortune 500 company in one of the fastest growing economies in the Asia-Pacific region further solidifies our presence in this important market," said Najeeb Ghauri, chairman and CEO of NetSol. "This agreement aligns perfectly with our goal to distinguish NetSol as a leading provider of asset and financing solutions in regions experiencing economic growth."
NetSol has more than 150 successful implementations of its NFS product around the world, in countries including Australia, Belgium, China, India, Ireland, Japan, Korea, Saudi Arabia, Singapore, Taiwan and Thailand.
In the last decade, the number of new passenger and commercial vehicles produced and registered in Malaysia has nearly doubled, according to the Malaysian Automotive Association. More than 600,000 passenger and commercial vehicles were produced and registered in Malaysia in 2010.
NTWK added to the Russell Microcap!!!!
NetSol Technologies Ltd. (NetSol PK)– FISCAL YEAR ENDED JUNE 30, 2010
• Revenues increased by 71% over the corresponding year of 2009
• Gross profit margins increased to 71% of revenues over the FY ended June 30, 2010 compared to 42% in the corresponding year
• Company posted net income of Rs. 952 million for the FY ended June 30, 2010 in comparison of Rs. 294 million in corresponding year ended June 30, 2009
NetSol PK posted revenues of Rs. 1.845 billion which represents an increase of 71% as compared to Rs. 1.081 billion reported last year. Gross profit in the year under review jumped to Rs. 1.315 billion as compared to Rs. 453 million reported in the corresponding year. During the current financial year ended June 30, 2010, the company posted net income of Rs. 952 million compared to Rs. 294 million in the year ago period. Earnings per share remained at Rs. 12.38 compared to an EPS of Rs. 4.12 reported in the corresponding
Successful development of our products is uncertain. To date, no significant revenues
have been generated from the commercial sale of our newest products and our products
may not generate revenues in the future.
ITS STARTS TO BE A JOKE OR IT IS A JOKE!!!! They talking like sky is the LIMIT....BUT WHERE ARE THE $$$$ CONTRACTS....Almost FED UP WITH THIS COMPANY...One time is was thinking this is a GEM but after almost 10 years...I FEEL DUPED by PAKIS....Damnnnn.....
Netsol Technologies Inc. (NTWK), a provider of enterprise software and IT services for the automobile finance and leasing, banking, healthcare, and financial services industries worldwide, in which New York-based small and midcap-focused hedge fund Newland Capital Management, with $854 million in 13-F assets, filed SEC Form SC 13G indicating that it holds 3.7 million or 5.1% of outstanding shares, an increase from the 2.4 million shares it held at the end of Q4.
We are saying this a very very long time now....Something HUGE is going on.....but NOTHING HAPPENS.... i want some boom boom action in the very near future!!! ;-)
A multi $ contract is more than welcome right now....
Much paid pumping @ Redchip!!!! A Strong Buy and a $3 target!!!!
PS: And still waiting...
Brazil!!!! We all forget about this JV???!!!!.....
The Brasilinvest has partnered with the American company, NetSol Technologies, currently listed on the Nasdaq market in Brazil for software leasing and financing, and other systems for different sectors of the economy. The company will start its activities in Brazil in January 2012 in the first year and will invest U.S. $ 750,000.000, with the expectation of obtaining first contracts from March 2012.
by Greg Pugh on March 7, 2013
in Growth Stocks
NetSol Technologies, Inc. (Nasdaq: NTWK) is a microcap stock specializing in information technology. Although little known, this company has been on a tear and it still faces significant, long-term growth potential.
NetSol is a worldwide provider of global IT and enterprise application solutions that include credit and finance portfolio management systems, SAP consulting and services, custom development, systems integration, and technical services for the global financial, Leasing, insurance, energy, and technology markets.
The company has an extensive global presence with offices in San Francisco, London, Bangkok, Beijing and Lahore. NetSol’s joint ventures and strategic partnerships include names such as Oracle Corp. (Nasdaq: ORCL), IBM (NYSE: IBM), Microsoft Corp (Nasdaq: MSFT) and SAP AG (NYSE: SAP).
NetSol recently completed a software implementation with Beijing Hyundai Auto Finance, a joint venture between Hyundai Motor Group (Korea: 005380) and Beijing Automotive Industry Group.
Hyundai Motor Group, the world’s fifth largest carmaker by sales, aims to provide auto loans for Hyundai and Kia Motors Corp (Korea: 000270) customers in China through this joint venture. In addition, it was just last summer that Mercedes-Benz Financial Group gained approval to offer its own leasing solutions to private and commercial customers in China.
Sentiment: Strong Buy