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Friday, August 31, 2012 12:19:02 PM
NTWK NetSol 
Technologies Increases Financial Guidance for Fiscal 2012; Foreshadows Highest Quarter in Company History
8:00a ET July 12, 2012 (Benzinga)
NetSol Technologies, Inc. (Nasdaq: NTWK) today provided preliminary revenue and earnings per share results for the fiscal year and fourth quarter ended June 30, 2012. Preliminary revenue results indicate the company's strongest year ever, with consecutive sequential quarterly growth throughout – a company first – and the highest quarterly revenue in the company's history.
Based on preliminary estimates, NetSol anticipates total revenue for the fiscal year will be in the range of $37 million to $38 million, indicating fiscal fourth quarter revenue of approximately $11.6 to $12.6 million, versus prior guidance of $8.6 million to $10.1 million.
Previously, NetSol said that it expected total revenue for the fiscal year of approximately $34 million to $35.5 million, or revenue growth of 30% to 40% for the second half of the fiscal year compared with the first half of the year. Instead, the company now anticipates growth of 50% to 56% for the second half over the first half of the year. The company attributed the robust growth to having signed a number of new contracts in the fiscal fourth quarter and continued robust demand for its core NFS Suite offering.
Given the current revenue estimates, NetSol now expects to report earnings per diluted share for the fiscal year in the range of $0.03 to $0.04, translating to earnings per diluted share in the fiscal fourth quarter of approximately $0.02 to $0.03. Previously the company said it expected achieving profitability for the full fiscal year.
Technologies Increases Financial Guidance for Fiscal 2012; Foreshadows Highest Quarter in Company History
8:00a ET July 12, 2012 (Benzinga)
NetSol Technologies, Inc. (Nasdaq: NTWK) today provided preliminary revenue and earnings per share results for the fiscal year and fourth quarter ended June 30, 2012. Preliminary revenue results indicate the company's strongest year ever, with consecutive sequential quarterly growth throughout – a company first – and the highest quarterly revenue in the company's history.
Based on preliminary estimates, NetSol anticipates total revenue for the fiscal year will be in the range of $37 million to $38 million, indicating fiscal fourth quarter revenue of approximately $11.6 to $12.6 million, versus prior guidance of $8.6 million to $10.1 million.
Previously, NetSol said that it expected total revenue for the fiscal year of approximately $34 million to $35.5 million, or revenue growth of 30% to 40% for the second half of the fiscal year compared with the first half of the year. Instead, the company now anticipates growth of 50% to 56% for the second half over the first half of the year. The company attributed the robust growth to having signed a number of new contracts in the fiscal fourth quarter and continued robust demand for its core NFS Suite offering.
Given the current revenue estimates, NetSol now expects to report earnings per diluted share for the fiscal year in the range of $0.03 to $0.04, translating to earnings per diluted share in the fiscal fourth quarter of approximately $0.02 to $0.03. Previously the company said it expected achieving profitability for the full fiscal year.
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