NetSol Technologies, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended March 31, 2023
May 11, 2023 at 10:26 am EDT
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NetSol Technologies, Inc. reported earnings results for the third quarter and nine months ended March 31, 2023. For the third quarter, the company reported revenue was USD 13.51 million compared to USD 14.81 million a year ago. Net income was USD 2.54 million compared to net loss of USD 0.27847 million a year ago. Basic earnings per share from continuing operations was USD 0.23 compared to basic loss per share from continuing operations of USD 0.02 a year ago. Diluted earnings per share from continuing operations was USD 0.23 compared to diluted loss per share from continuing operations of USD 0.02 a year ago.
For the nine months, revenue was USD 38.6 million compared to USD 43.7 million a year ago. Net loss was USD 0.169032 million compared to net income of USD 1.32 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to basic earnings per share from continuing operations of USD 0.12 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to diluted earnings per share from continuing operations of USD 0.12 a year ago.
NetSol Technologies, Inc. is a provider of information technology (IT) and enterprise software solutions primarily serving the global leasing and finance industry. The Company is engaged in licensing, subscriptions, modification, enhancement and support of its suite of financial applications, under the brand name NFS Ascent to businesses in the global finance and leasing space. The Company operates through three segments: North America, Europe and Asia-Pacific. Its NFS Ascent is built on cutting-edge, modern technology that enables auto, equipment and big-ticket finance companies, alongside banks, to run their retail and wholesale finance business with ease. NFS Ascent Constituent Applications include Omni Point of Sale (Omni POS), Contract Management System (CMS), Wholesale Finance System (WFS), Dealer Auditor Access System (DAAS), NFS Ascent deployed on the cloud and NFS Digital. It also offers Otoz Digital Auto Retail and Mobility Orchestration, Otoz Ecosystem and AppexNow.