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NTWK Announces Contract with Sany Corp. of China for Implementation of NFS Solution
Today, NetSol Technologies, Inc. announced that Sany Corp. of China, the largest concrete equipment manufacturer in the world, signed a contract of notable value to install NetSol’s Financial Suite (“NFS”) solution to run its newly formed finance company. The complete NFS suite, including Credit Application Processing (CAP), Contract Management System (CMS) and Wholesale Finance System (WFS), is to be deployed across Sany’s vast dealer network as well as its business back office centers across China.
The largest concrete machinery manufacturer in the world, Sany is one of the Global Top 50 Construction Machinery Manufacturers and one of China’s Top 500 Enterprises. The company has been honored as the most profitable and competitive enterprise in the engineering machinery industry, Top Chinese Enterprise by Forbes, Brand with the Highest Growth Momentum in China, Symbolic Brand in Chinese Engineering Machinery Industry and one of the Top 500 Brands in Asia.
Sany Heavy Industry Co., Ltd, a core subsidiary of Sany Group, which got listed on the Shanghai Stock Exchange on July 3, 2007, was the first Chinese enterprise to successfully realize the non-tradable shares reform and to put its shares into full circulation.
Naeem Ghauri, head of Global Sales and President of NetSol Technologies, Inc. for Europe, stated, “This win is one of many we have in our current pipeline and is a further validation of our China strategy and our NFS value proposition. We have a clear market leadership in this exciting space, which is continuing to grow exponentially in China.”
NTWK Announces SAP Certification for Its smartOCI(TM) Search Engine
NetSol Technologies, Inc., a worldwide provider of global IT and enterprise application solutions, announced this morning that the Company’s eProcurement catalog search engine, smartOCI(TM), has been certified by SAP for integration with SAP applications.
According to the press release, smartOCI(TM) achieved the highest level of certification with the B2B-OCI catalog interface, allowing buying organizations to use smartOCI(TM) to search and exchange catalog content from suppliers worldwide and transfer these purchasing requests to the SAP and SRM backend systems. Launched only a month ago, smartOCI(TM) is designed to provide corporate buyers and shoppers a simple and intuitive user interface to search multiple supplier catalogs simultaneously within the SAP SRM application.
Najeeb Ghauri, NetSol Technologies Chairman and CEO, stated, “Achieving SAP certification with our smartOCI(TM) product is an important milestone for our organization and provides our SAP customers and prospects with the confidence that the smartOCI(TM) product properly integrates with the SAP product line.”
NetSol is currently partnered with SAP in its PartnerEdge program, which allows the company to work closely with SAP to develop and certify the technical integration of its products with SAP software. Integrated partner applications extend, complement and add value to SAP solutions, thus helping mutual customers more successfully meet business needs and drive stronger results.
NTWK Receives “Strong Buy” Rating and $3.00 Price Target from RedChip Visibility
RedChip Visibility, a division of RedChip Companies, Inc., yesterday announced its initiation of coverage on NetSol Technologies Inc., a developer and implementer of global business services and enterprise application solutions.
Bill Matson, CFA, RedChip Research Analyst, stated, “NetSol’s global footprint, low labor costs, proven quality, and software with the ability to consolidate an unprecedented variety of global IT functions in one location for credit-based businesses have allowed the Company to build a diversified blue chip client base.”
“While approximately 60% of NetSol’s revenues are currently derived from its NetSol Financial Suite(TM), it must be noted that the Company is involved in varying degrees with several initiatives that could ultimately surpass the scale of its business with credit-based businesses. These opportunities include defense, health care, land records management, property and casualty insurance, and SAP-compatible software.”
Matson added, “Trading close to its GAAP book value and at what we believe is an unreasonably low 6.3x projected fiscal 2011 earnings, we are initiating coverage of NTWK with a Strong Buy rating and a price target of $3.00.”
Investors interested in receiving a complimentary copy of the RedChip Visibility Initial Research Report for NTWK should visit: http://www.redchip.com/about/aboutmain.asp?rid=252
NTWK Offers Full Credit Bureau Capabilities with Web-Based Product
NetSol Technologies Inc., a leading global enterprise software company, offers among its many products and services one of the most advanced credit automation systems available anywhere in the world. Its name is Electronic Credit Information Bureau (e-CIB) and it allows any commercial or governmental operation to fully automate the functionalities of a credit bureau. Completely web-based, the system provides the user direct and immediate online access to borrower financial data. It’s an end-to-end solution for credit bureaus, banks, and other commercial and government users.
e-CIB is state-of-the-art, incorporating Oracle and Java, with a secure interface made possible through the use of the latest SSL and VPN networking technologies, and also includes XML based integration. It’s a highly scalable system, able to handle an estimated increase from around 100,000 to 3 million credit information requests per month, and can easily grow with the user.
System capabilities are divided into three major components:
• Data Capture (data collection) – e-CIB greatly reduces the data entry and consolidation burden, decreasing associated errors, and is designed to minimize data upload time for fast operation.
• Back Office (credit profile generation) – The system provides easy and secure data storage and tracking, and can easily deal with large transaction volumes.
• Data Inquiry (customer service) – It can handle many concurrent users, with consistently quick and reliable credit application processing.
The bottom line is that e-CIB is a unique product, allowing users to more efficiently identify and monitor credit risk, and thus helps the user better approach potential customers by providing fast and accurate information regarding their credit rating and debt burden.
It’s a good example of why NetSol is always able to stay ahead of the crowd with leading edge offerings. The fact that the company is also one of only 100 companies around the world to have achieved ISO 9001, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, dramatically backs up e-CIB and all of their other products.
NTWK's Web of Global Alliances and Joint Ventures
NetSol Technologies Inc. is a worldwide provider of global IT and enterprise application solutions. The company serves the global financial, healthcare, insurance, energy and technology markets. One of the key approaches of NetSol has been to develop strategic global alliances with different types of partners. The aim is to establish credibility for the customers, enhance knowledge on different technologies and industries, and penetration into new geographical markets.
Currently, the company is focused on two joint ventures. The first joint venture, called Extended Innovation, was formed in 2005 with Britain’s Innovation Group PLC. This venture has shown tremendous growth since its formation and is centered on the insurance industry. It services leading global insurance companies including Allstate, Hertz, Avis, Aviva and Norwich Union.
In 2009, NetSol formed another joint venture, called Atheeb NetSol, with Atheeb Group of Saudi Arabia – a Saudi conglomerate. Atheeb NetSol is to form a “software engineering center of excellence” in Riyadh, Saudi Arabia. The joint venture will target the huge potential existing in IT markets in the Middle East, Africa and Asia, particularly in Saudi Arabia and the Gulf region. The venture’s major focus will be on government projects, defense, finance and telecom sectors in the region.
In addition to these two important joint ventures, NetSol is affiliated with the biggest names in the global IT industry. These affiliations have allowed NetSol to develop its expertise across a wide spectrum which helps in providing a comprehensive, organization-wide IT solution for clients. The following list of companies partnered with NetSol is quite impressive:
• Oracle certified partner – NetSol has won Oracle certification for its products including NFS, HMIS, MTMIS, Legislation system and other products.
• Microsoft gold certified partner – NetSol received competencies (from customer references) in five different areas of the Microsoft gold partnership.
• SAP – NetSol is a SAP services partner, and delivers superior SAP solutions to Fortune 1000 companies across many industries.
• Hewlett Packard-DSPP partner – HP developer and solution provider portal allows NetSol quick and easy web access to HP hardware, support and software.
• IBM-Internet Security Systems – NetSol is a tier 1 partner of IBM-ISS in Pakistan. It is licensed to provide the hardware, software and services to clients in Pakistan.
• Thales Raytheon Systems – Netsol, as a technology partner, represents Raytheon Defense Solutions in Pakistan.
• Kaspersky Lab – NetSol, an enterprise partner of Kaspersky Labs Russia, provides end point security solutions to clients in the telecom, finance, defense, health and public sectors.
• Real Consulting – The companies have a collaboration to introduce NetSol’s IT services and enterprise solutions into Greece and adjacent markets.
• Neptune Software PLC – There is a non-exclusive and non-competitive reseller agreement between the companies for South Africa, Ghana, Kenya, Nigeria, Uganda and other nations on the African continent.
Looks like we saw the same news at about the same time eh?
Do YOU have any comments?
g.p.
"NTWK News" NetSol Scores New Contracts Valued at Over $3 Million as Major Automotive Finance Company Invests in NetSol Financial Suite(TM)
http://www.marketwatch.com/story/netsol-scores-new-contracts-valued-at-over-3-million-as-major-automotive-finance-company-invests-in-netsol-financial-suitetm-2010-05-27?reflink=MW_news_stmp
CALABASAS, Calif., May 27, 2010 (GlobeNewswire via COMTEX) -- NetSol Technologies, Inc. ("NetSol") /quotes/comstock/15*!ntwk/quotes/nls/ntwk (NTWK 0.77, +0.03, +4.08%) (Nasdaq Dubai:NTWK), a U.S. corporation providing global business services and enterprise application solutions to private and public sector organizations worldwide, today announced that it has secured two major projects worth over $3 million to implement its NetSol Financial Suite (NFS)(TM) Contract Management System (CMS) with a major international automotive manufacturer's captive finance company in the Asia-Pacific Region.
The contract structure provides significant upfront as well as recurring revenue components. NetSol's NFS solution will fully automate the customer's financing business, providing improved operational efficiencies, enhanced contract lifecycle management, increased financial visibility, and quick return on investment.
Naeem Ghauri, Head of Global Sales of NetSol and President of NetSol Technologies Europe, Ltd., commented: "Emerging and mature markets in Asia Pacific are driving our recovery with these new contract wins. Our visibility in this dynamic region continues to grow and we see our access to the market increasing with each new win. Currently, NetSol is positioned ahead of its competitors to benefit from the growth in the APAC Automotive Finance sector."
Around .77 to .78 before the Markets open, thanks to $$$$ contracts:
"
NetSol Scores New Contracts Valued at Over $3 Million as Major Automotive Finance Company Invests in NetSol Financial Suite(TM)
2010-05-27 08:00 ET - News Release
CALABASAS, Calif., May 27, 2010 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. ("NetSol") (Nasdaq:NTWK) (Nasdaq Dubai:NTWK), a U.S. corporation providing global business services and enterprise application solutions to private and public sector organizations worldwide, today announced that it has secured two major projects worth over $3 million to implement its NetSol Financial Suite (NFS)™ Contract Management System (CMS) with a major international automotive manufacturer's captive finance company in the Asia-Pacific Region.
The contract structure provides significant upfront as well as recurring revenue components. NetSol's NFS solution will fully automate the customer's financing business, providing improved operational efficiencies, enhanced contract lifecycle management, increased financial visibility, and quick return on investment.
Naeem Ghauri, Head of Global Sales of NetSol and President of NetSol Technologies Europe, Ltd., commented: "Emerging and mature markets in Asia Pacific are driving our recovery with these new contract wins. Our visibility in this dynamic region continues to grow and we see our access to the market increasing with each new win. Currently, NetSol is positioned ahead of its competitors to benefit from the growth in the APAC Automotive Finance sector."..."
A couple more like this and NetSol should get back to the dollar a share value before October.
g.p.
That did not last long!
Three days and NetSol is back around .80.
What next?
g.p.
Great! This news showing confidence,
already reflects in pre-market trades.
NetSol over .90
g.p.
NetSol founders buy over 1M shares NTWK
Press Release Source: NetSol Technologies, Inc. On Tuesday May 18, 2010, 8:00 am
CALABASAS, Calif., May 18, 2010 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. ("NetSol") (Nasdaq:NTWK - News) (Nasdaq Dubai:NTWK), a U.S. corporation providing global business services and enterprise application solutions to private and public sector organizations worldwide, announced today that the Company's three founding officers acquired over 1 million shares of NetSol stock through a private transaction. The shares were purchased at the price of $0.87 on May 14, 2010. Najeeb Ghauri, CEO and Chairman, acquired 375,000 shares of stock. Salim Ghauri, President APAC, acquired 350,000 shares. Naeem Ghauri, President NTE, acquired 309,383 shares. Each founder filed an SEC Form 4 to report the acquisition.
NTWK Develops User-Centric Highly Customized Applications for a Global Business Market
NetSol Technologies, Inc. is a global leader in developing client-oriented and highly customized e-business software solutions, employing proprietary BestShoring™ practices to ensure that the vast capabilities of the Company’s massive team of software engineers and multi-disciplinary experts are judiciously employed when creating the rigorous, solutions-based environment in which the application is developed.
The design philosophy of NTWK is to utilize highly qualified personnel with expertise in the specific requirements of a given application, so that the output of the Customized Application Development team results in highly evolved and articulately adapted modular solutions which use the Company’s state-of-the-art project management methodology, and n-tier delivery model, to allow the customer to choose between migrating applications, improving existing applications, or engineering completely new solutions.
As we all know, the efficiency of a company depends in large part these days on a highly responsive and tightly integrated IT infrastructure which supports and enables personnel to achieve and maintain optimum efficiency, thus yielding increased overall profitability. NTWK specializes in IT infrastructure design, and can offer clients the kind of real-time, seamless, open-sharing environment that allows for continuous cost-benefit analysis and a competitive edge.
By increasing the efficiency of the network, while streamlining its design and simplifying its structure, improving security, reliability and in general functionality in ways that keep the entire system ready to adapt to prevailing business and technological constraints, NTWK is able to effect a supreme state of command for the client over their IT infrastructure.
The Company’s software assurance is par-excellence and, like other offerings by NTWK, emphasizes a great deal of customization and user-specific tailoring in order to ensure satisfaction and workability. This creates an iron-clad trust between clients and NTWK, as the client can rest soundly in full knowledge that the Company will employ its expert staff and proven analytical framework to ferret out any problems via comprehensive software testing.
Having achieved the coveted CMMI (Capability Maturity Model) Maturity Level 5 status, the Company has demonstrated a commitment to quality which places it among the top 100 worldwide, featuring a full suite of software testing services from configuration and compatibility to functional, web site, regression, installation and localization; performance, load and stress; and test automation and planning, including test and script development, as well as execution.
NetSol Technologies Announces Conference Call to Discuss Third Quarter Fiscal Year 2010 Financial Results
Wednesday, May 12, 2010 at 11:00 a.m. EDT (8:00 a.m. Pacific) to discuss its financial results for the third quarter fiscal year 2010. The Company plans to file its third quarter 2010 financial results on the same day following the market close.
To participate in the call please dial (877) 941-1429, or (480) 629-9666 for international calls, approximately 10 minutes prior to the scheduled start time. Interested parties can also listen via a live Internet webcast, which can be found at the Company's website at http://www.netsoltech.com.
A replay of the call will be available for two weeks from 2:00 p.m. May 12, 2010, EDT until 11:59 p.m. EDT on May 26, 2010. The number for the replay is (800) 406-7325, or (303) 590-3030 for international calls; the passcode for the replay is 4294953. In addition, a recording of the call will be available via the Company's website at http://www.netsoltech.com for one year.
Netsol Great Rebound Story..Back to profitability
Wow..Netsol is a great recovery story. With this news they are back to profitability and doing great things within the company. investors will be rewarded for being patient.
NetSol Technologies Announces Third Quarter Fiscal Year 2010 Financial Results, Highlighted by a 78% Increase in Sales, Improved
http://ih.advfn.com/p.php?pid=nmona&article=42779754&symbol=N^NTWK
Third Quarter Fiscal Year 2010 Consolidated Financial Highlights
* Revenues for the fiscal year 2010 third quarter totaled $8.9 million, up from $5 million for the same period year-over-year, representing an increase of $3.9 million, or 77.8%.
* Net income per share totaled $0.02 versus a loss ($0.19) for the same period a year ago.
* Net revenues from license fees totaled $3.64 million, an increase of 1,022% versus the same period a year ago.
* 100% sequential growth in the core NetSol Financial Suite™ license sales.
* Gross margin increased to 61.3% compared to 10.7% in the same period a year ago.
* Operating income increased to $2.58 million as compared to an operating loss of $4.26 million in the same period a year ago.
* EBITDA totaled $1.9 million or $0.05 per diluted share, versus an EBITDA loss of $3.5 million, or a loss of ($0.13) per diluted share, in the year-ago period.
* The Company reiterates previous guidance for fiscal year 2010 projecting revenues in the range of $33.0 million and $35.0 million, representing full-year revenue growth of between 25% and 32% over fiscal year 2009. The Company projects a return to GAAP net income for fiscal year 2010, versus a GAAP net loss of $0.30 per diluted share for fiscal year 2009. License revenues for fiscal year 2010 are projected to increase more than 100% over fiscal year 2009.
Nine-Months Ended March 31, 2010
* Revenues for the nine months ended March 31, 2010 totaled $26.1 million up from $19.6 million for the same period year-over-year representing an increase of $6.5 million or 33%.
* Net revenues from license fees totaled $9.52 million, up from $3.50 million for the same period year-over-year, representing an increase of $6.01 million, or 171.6%.
* Gross margin increased to 59.3% compared to 34.1% in the same period a year ago.
* Operating income increased to $5.42 million as compared to an operating loss of $5.95 million in the same period a year ago.
* EBITDA totaled $4.07 million, or $0.12 per diluted share, versus an EBITDA loss of $3.04 million, or a loss of ($0.11) per diluted share, in the same period a year-ago.
NTWK Upcoming Conference Call to Discuss Q3 FY 2010 Financial Results
NetSol Technologies, Inc., a worldwide provider of global IT and enterprise application solutions, announced this morning that management will hold a conference call next week on Wednesday at 11:00 a.m. EDT (8:00 a.m. Pacific) to discuss its financial results for the third quarter fiscal year 2010. The Company anticipates filing its third quarter 2010 financial results on the same day following the closing bell.
To join the call, please dial (877) 941-1429, or (480) 629-9666 for international calls, approximately 10 minutes prior to the scheduled start time. Parties will also be able to listen via a live Internet webcast, which can be found at the Company’s website at http://www.netsoltech.com.
A replay of the call will be available for two weeks from 2:00 p.m. May 12, 2010, EDT until 11:59 p.m. EDT on May 26, 2010. The number for the replay is (800) 406-7325, or (303) 590-3030 for international calls; the passcode for the replay is 4294953. In addition, a recording of the call will be available via the Company’s website at http://www.netsoltech.com for one year.
NTWK Eager to Reveal On Demand smartOCI(TM) Search Engine at SAPPHIRE(R) NOW Conference
NetSol Technologies, Inc., provider of global business services and enterprise application solutions to private and public sector organizations worldwide, announced today that it is all set to reveal a Software-as-a-Service (SaaS) offering for its smartOCI(TM) search engine at SAP’s SAPPHIRE(R) NOW conference being held May 16-19, 2010 at the Orange County Convention Center in Orlando, Fla. Hosted by SAP AG, the SAPPHIRE NOW show is attended by software industry leaders who are excited to share and demonstrate innovative solutions running on-premise, on-demand or on-device to enable real-time decision-making. NetSol Technologies will be exhibiting at Booth Number 3415b.
NetSol’s smartOCI(TM) 1.0 is a new search engine technology designed to provide corporate buyers and shoppers a simple and intuitive user interface to search multiple supplier catalogs simultaneously within the SAP SRM application. Developed for customers who are currently running the SAP Supplier Relationship Management eProcurement platform, smartOCI(TM) is delivered through the SaaS distribution model, where software applications are remotely hosted and users can securely access them from anywhere with an Internet connection.
The beta program for smartOCI(TM) 1.0, now employed by six customers, is scheduled to end May 10. The solution is currently pending SAP certification. According to the press release, NetSol will offer special “QuickStart” pricing packages to SAP customers attending the SAPPHIRE NOW event.
Najeeb Ghauri, Chairman and CEO of NetSol, commented, “We wanted to provide our customers with a solution that drives immediate and real value to procurement organizations without upfront hardware, software license and maintenance costs. Deploying our smartOCI(TM) search engine as a SaaS offering allows us to achieve this goal.”
NTWK Set To Release smartOCITM
NetSol Technologies Inc., a worldwide enterprise software solutions and services provider, is set to formally launch its newest web-based offering at the SAP SAPPHIRE Conference on May 17 in Orlando, Florida. Called smartOCI™, it’s designed to make the complex job of procurement a lot easier.
smartOCI targets the approximately 1,000 SAP SRM (Supplier Relationship Management) platform customers around the world, and streamlines the purchasing process by providing users a simple and intuitive interface for searching multiple supplier catalogs simultaneously. The system, sold on a subscription basis, is completely web-based, with no software to download or hardware to install, and operates seamlessly within the SAP SRM procurement application.
Support is also seamless, since NetSol is a well-known SAP Services Partner, and has a highly specialized team of SAP professionals offering SAP consulting expertise across multiple industries and business processes, including financials, supply chain management, procurement, and business intelligence. It doesn’t hurt that NetSol is also one of only 100 companies around the world to have achieved ISO 9001, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments.
NetSol Chairman and CEO, Najeeb Ghauri, commented on the upcoming release. “The formal launch of our new smartOCI™ solution represents a major milestone for our SAP practice and opens up tremendous new opportunities within the vast global market for SAP solutions. smartOCI™ greatly simplifies SAP eProcurement systems, increasing productivity for purchasing organizations and creating the opportunity for material cost savings through more efficient eProcurement capabilities. For organizations with an SAP SRM system, and more than one OCI-compliant catalog, smartOCI™ is a perfect fit. We look forward to demonstrating our smartOCI™ solution at the upcoming SAP SAPPHIRE NOW Conference and see this live launch as a critical factor in driving the growth of our SAP business.”
Can you provide an as of date? on your last post? or better yet, a Link. Thanks.
NTWK Forms Atheeb NetSol Limited with Atheeb Group of Saudi Arabia
NetSol Technologies, Inc., long renowned the world over for providing highly specialized solutions custom-tailored to the given industry of a client via business services and enterprise applications, in accordance with the Company’s proprietary BestShoring™ model, recently announced alongside Middle East partner Atheeb Group the official operational launch of the Atheeb NetSol Limited joint venture.
A real milestone, both for the rapidly accreting Middle East IT services/software development market, and for the Company, is signified with the formalization and official operational launch of Atheeb NetSol Limited; which is to be focused on developing localized/market-specific opportunities while obtaining software engineering market penetration in key areas like telecoms, defense, public sector operations and finance.
Atheeb NetSol Limited aims to flourish by leaning into the strong localized infrastructural hand already possessed by Atheeb with its robust network of private, public and governmental customers in the region, while using the energy liberated from the application of NTWK’s sophisticated project management, customer support, training services, R&D, and the software engineering capacity of the Company’s CMMI Maturity Level 5 rating for process design certified Center of Excellence to propel itself forward.
This joint venture move comes swiftly on the heels of earlier development efforts realized in the award of an IT services contract to NetSol Asia Pacific by Atheeb Intergraph Saudi Company (AISC) of Saudi Arabia.
Recently, at Atheeb Group’s world HQ, the first board meeting of Atheeb NetSol Limited took place, chaired by Chairman and CEO of Atheeb Group, HRH Prince Abdulaziz Bin Ahmed Bin Abdulaziz AlSaud, and attended by Chairman and CEO of NTWK, Mr. Najeeb U. Ghauri, as well as other members of the board. The meeting successfully ratified a 5-year business and operations plan while also creating a 7-member team to be based in Riyadh and tasked with discrete management.
HRH Prince Abdulaziz Bin Ahmed Bin Abdulaziz AlSaud hailed the new joint venture as a unique and amazing strategic opportunity for both companies to realize substantial revenue generation in what is “one of the strongest economies in the world”, projecting the clear vision of creating a “CMMI level 5 model company” and tackling mid- to large-sized IT projects the kingdom and Gulf Cooperation Council (GCC) markets.
The Prince confirmed the fully operational status of the new joint venture for meeting outsourced IT services/software development regionally, and expressed excitement about the potential of this partnership for seizing a dominant market footprint.
Mr. Najeeb U. Ghauri thanked the Prince on behalf of the global NTWK team of professionals and expressed how honored the Company is to have the opportunity to partner with a premier Middle Eastern diversified conglomerate like Atheeb, and how reassuring it is to have the Prince’s dynamic and visionary leadership to oversee infrastructural expansion into the Kingdom of Saudi Arabia, one of the most capitalized and opportunity-rich markets in the world.
NTWK Gets the Credit
NetSol Technologies Inc. has been able to overcome rough economic times by simply helping other companies succeed by offering systems and services that are simply unmatched. A great example of this is NetSol’s Credit Application Processing (CAP) System, called LeaseSoft.CAP, a web-based credit evaluation system that surpasses every industry performance benchmark.
LeaseSoft.CAP is a highly efficient automated system for analyzing and presenting the credit worthiness of applicants, significantly cutting down on application processing times. Together with sophisticated technology, LeaseSoft.CAP has an integrated link directly to credit bureaus and agencies, allowing credit history to be accessed in the shortest possible time. The result is a substantial rise in the number of applications that can be finalized in any given period.
LeaseSoft.CAP employs state-of-the-art object-oriented and N-tier architecture to speed processing, and is equipped with comprehensive workflow management capabilities, robust enough to support several hundred simultaneous users. The system is completely customizable, offering such things as an automated point scoring system that lets the user set specific parameters to gauge the credit worthiness of an applicant. In addition, the system’s user friendly interface allows dealers, vendors, and customers to interact with the finance company, providing an opportunity for web-based customer counseling, quotation, and credit application creation/submission.
In short, LeaseSoft.CAP is a comprehensive credit application processing solution, giving companies the features they need to make the credit application and evaluation process accurate, easy, and more economical.
• Automated credit approval cycle
• Improved credit approval time
• Reduction in key stroke times due to non-repetitive data input
• Automate log keeping of all processes/events
• Point Score System to define any scoring models and rules
• B2B and B2G interfaces, such as credit bureaus, registration authorities, etc.
• Flexible work flow management, to configure workflow according to business hierarchy
• Comprehensive asset and business partner database, for faster evaluations of requests
NTWK Engages RedChip Companies to Lead Public and Investor Relations
NetSol Technologies, Inc., a provider of global business services and enterprise application solutions to private and public sector organizations worldwide, this morning announced that it has retained RedChip Companies, Inc. to lead its public and investor relations programs.
“We look forward to working with RedChip’s highly professional team who specialize in the small-cap space,” stated Najeeb Ghauri, Chairman and CEO of NetSol Technologies. “RedChip has a long history of success in building strong relationships with investors, and we are confident they will augment our investor relations and outreach efforts.”
“We are excited about the opportunity to represent NetSol,” commented Dave Gentry, President and CEO of RedChip Companies, Inc. He added: “NetSol has reported double-digit growth sequentially for the last two quarters, a testament to the strength of their global software solutions and IT services. As they continue to focus on capitalizing on the opportunities in emerging markets such as China, we believe they are positioned for continued strong growth. We look forward to implementing our comprehensive investor relations programs and helping to increase their visibility to the investment community.”
NTWK Means Intelligence
NetSol Technologies Inc., a worldwide provider of global business services and enterprise application solutions, is ultimately all about intelligence, business intelligence. The whole idea behind the application of computer technology to the business environment is based upon the collection and processing of information in such a way as to enable the most accurate assessments and smartest decisions. This is where NetSol excels.
NetSol Technologies Business Intelligence delivers fully customized and integrated enterprise BI solutions, incorporating proven SAP BusinessObjects™ tools such as Xcelsius® and Crystal Reports®, advanced processing that allows for quick and accurate analysis and evaluation of virtually any type of business information, including sales, supply-chain efficiencies, resource deployment, and financial trends. NetSol BI is designed to transform raw data into actionable information, maximizing a company’s potential.
NetSol’s overall business intelligence solutions actually go well beyond classic business intelligence and analytics, opening a window to every aspect of a company’s operations.
Business Intelligence
• Advanced analytics
• Dashboards and visualization
• Information infrastructure
• Query, reporting, and analysis
• Search and exploration
Information Management
• Data warehousing
• Data integration
• Data quality management
• Data services
• Master data management
• Metadata management
Enterprise Performance Management
• Strategic management
• Planning and consolidation
• Financial consolidation
• XBRL publishing
• Financial information management
• Intercompany reconciliation
• Profitability and cost management
• Spend performance management
• Supply chain performance management
Governance, Risk, and Compliance (GRC)
• Risk management
• Access control
• Process control
• Global trade services
• Environment, health, and safety management
In addition, NetSol is able to offer this to virtually any type of business, anywhere in the world, using its broad base of experience to take into consideration the unique business intelligence requirements of specific industries and economic/political environments. It’s this kind of capability that has allowed NetSol to continue growing in even the toughest of times.
NTWK Building on a Foundation of Success
NetSol Technologies, Inc., worldwide provider of business services and enterprise software solutions for over 14 years, is renowned throughout the global marketplace for its industry-standard setting BestShoring™ practices, infrastructure and personnel.
Continued retention of the prestigious ISO 9001, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessment standards puts NTWK in an exclusive club of only 100 other companies able to boast such sustained results.
NetSol is famous for its sophisticated NetSol Financial Suite (NFS) of software that includes the asset-based leasing platform, LeaseSoft, which has received the coveted “Best Financial Industry Application” (07) from the Asia Pacific ICT Awards (APICTA), an international program recognizing the best in innovation among information and communications technology firms.
Also among the honors bestowed upon NTWK is the NCR National IT Excellence Award’s “Best Software Exporter Award” (04-05) for development of the LeaseSoft application, which represents 8 years of exhaustive work and the culmination of the very best practices of software development and financial industry business processes into a robust, modular architecture.
LeaseSoft has seen widespread adoption throughout the booming markets of Asia, due in no small part to the software’s structure, which consists of over 100 modules that make up the four primary modules, enabling the software to be used as a standalone system or incrementally as portions of it are used for specific tasks, a design initiative also employed in other products by NetSol.
LeasePak, with a proven track record of over 35 years, completes the NFS as an end-to-end lifecycle solution by offering powerful leasing, loan, and asset enterprise capabilities. Additionally, the engineers who developed LeasePak bring a bevy of subject matter and domain expertise to the NetSol brand.
As of June 08, NetSol was the first company in US history to achieve simultaneous listing on both Nasdaq and the DIFX, Nasdaq’s United Arab Emirates (UAE) exchange, a feat which gives NetSol a firm foothold in the vast Middle Eastern markets.
With the recent acquisition of a new SAP practices segment, NetSol now also boasts a comprehensive series of SAP® consulting, staff augmentation, and training services, as well as an industry-leading array of products.
NetSol is organized around a business philosophy which places the client’s potential to achieve growth and excellence ahead of all else, and the Company is dedicated to helping clients realize ideal solutions through the application NTWK’s resources and expertise.
NTWK Covers All Industries
NetSol Technologies Inc., a global provider of enterprise software solutions and services, has the very significant advantage of serving a broad industrial base, protecting it from the inevitable ups and downs of individual markets. To do this, however, requires the ability to convince diverse customers, with dramatically different needs, that NetSol has what it takes to best serve their unique interests. NetSol has managed to do this by consistently demonstrating a level of technological competency, and an unparalleled dedication to quality, that competitors are simply unable to match.
The company employs a global network of well-integrated resources to support a wide range of products and services advantageous to all industries. But encompassing everything they do is their top-down dedication to the highest ethical and quality standards. In the case of NetSol, this is not just a lot of promotional hype. The company maintains several key ratings and certifications to prove that it means what it says. This includes Software Engineering Institute’s (SEI) CMMI Maturity Level 5, a distinction shared by fewer than 100 companies worldwide, along with ISO 9001 and 27001 certifications. These achievements are the result of processes and products developed to conform to the most rigorous quality standards, resulting in the efficient delivery of solutions that are secure, reliable, properly planned, and meticulously executed.
Since NetSol does not depend upon outsourcing, all of the risks associated with outsourcing are removed. Every member of the integrated team speaks the same language and knows exactly what their role is in the overall plan. These are industrial experts, knowledgeable in the special requirements of particular industries and the technologies that can best be applied. An important part of this approach is the fact that NetSol is technologically unbiased, free to use the products and service components that most accurately fit the need.
Cross-industry practices include:
• Applications Management
• BestShoring™ Business Processes
• Business Intelligence
• Data Warehousing and Disaster Recovery
• Enterprise Asset Management
• Enterprise Resource Planning
• Enterprise Security Management
• Information and Records Management
• Managed Hosting
• Process Improvement
• Project Management
• Risk Analysis and Management
• SAP Applications Solutions
• Staff Augmentation
• Web Services
Overall services include:
• Business Consulting and Process Optimization
• Corporate Education and Training
• IT Management and Administration
• Software Design, Development, and Support
• Systems Design and Integration
And NetSol continues to show its ability to effectively do all of this on a global basis, with offices in London, San Francisco, Sydney, Beijing, Bangkok, and Lahore.
NetSol Technologies, Inc. (NTWK) Announces Official Launch Date of smartOCI(TM)
NetSol Technologies, Inc., provider of business services and enterprise application solutions to private and public sector organizations worldwide, this morning announced the official launch of the smartOCI™, a SAP-compatible multiple-catalog search engine solution. smartOCI™ enables streamlining purchasing processes and driving cost efficiencies within procurement organizations. The search engine technology is targeted for launch on May 17, 2010 at the SAP SAPPHIRE Conference in Orlando, Florida, targeting approximately 1,000 SAP SRM platform customers.
Developed by NetSol Technologies, smartOCI™ will provide corporate buyers and shoppers a simple and intuitive user interface to search multiple supplier catalogs simultaneously within the SAP Supplier Relationship Management (SRM) procurement application. The search technology is completely web-based with no software to download or hardware to install. As a SAP Services Partner, NetSol Technologies has recruited a highly specialized team of SAP professionals who provide SAP consulting expertise across industries and business processes including financials, supply chain, procurement, and business intelligence.
Najeeb Ghauri, NetSol Technologies Chairman and CEO, stated, “The formal launch of our new smartOCI™ solution represents a major milestone for our SAP practice and opens up tremendous new opportunities within the vast global market for SAP solutions. smartOCI™ greatly simplifies SAP eProcurement systems, increasing productivity for purchasing organizations and creating the opportunity for material cost savings through more efficient eProcurement capabilities. For organizations with an SAP SRM system, and more than one OCI-compliant catalog, smartOCI™ is a perfect fit. We look forward to demonstrating our smartOCI™ solution at the upcoming SAP SAPPHIRE NOW Conference and see this live launch as a critical factor in driving the growth of our SAP business.”
NetSol’s Senior Vice President will be speaking and demonstrating NetSol’s smartOCI™ solution at the SAP SAPPHIRE NOW Conference to be held at the Orange County Convention Center in Orlando, Florida from May 16 to May 19, 2010.
NTWK Partners with Atheeb Group to Launch New Joint Venture in Kingdom of Saudi Arabia
NetSol Technologies, Inc., a U.S. corporation focused on providing global business services and enterprise application solutions, today announced the formal operational launch of the Atheeb NetSol Limited joint venture. This launch marks a major milestone for the company as it focuses on the development of the dynamic fast growing Middle East market for IT services and software development.
The Atheeb NetSol Limited joint venture will engage market development opportunities with the goal of penetrating the software engineering arena in key business sectors such as telecommunications, defense, public sectors and finance, among others. Atheeb NetSol Limited will leverage the strength of Atheeb’s local presence in key geographies, while benefiting from NetSol’s best practices project management and the comprehensive delivery capabilities of its CMMI Level 5 certified Center of Excellence for software engineering, research and development, as well as customer support and training.
The first Atheeb NetSol Limited board meeting was recently held at Atheeb Group world headquarters where a five year business and operational plan was ratified. The meeting was chaired by HRH Prince Abdulaziz Bin Ahmed Bin Abdulaziz AlSaud, Chairman and CEO of Atheeb Group, and attended by Mr. Najeeb U. Ghauri, Chairman and CEO of NetSol Technologies, Inc., as well as fellow board members including Mr. Alabad AbdualAziz, Mr. Ted Millspaugh, Mr. Saad O Albaiz, Mr. Salim Ghauri and Mr. Sajjad Kirmani. In addition, a seven member management team based in Riyadh was appointed.
HRH Prince Abdulaziz Bin Ahmed Bin Abdulaziz, Atheeb Group Chairman and Chief Executive Officer, stated, “The strategic joint venture between NetSol and Atheeb Group, signifies a unique and an amazing opportunity for a U.S. based IT company with a leading diversified conglomerate, in one of the strongest economies in the world. Our joint vision is to create a CMMI level 5 model company and participate in medium to large scale IT projects in the kingdom and Gulf Cooperation Council (GCC) market. The joint venture is now fully operational and ready to meet the growing demand for software development and outsourced IT services in the region. We are very excited about the potential of this partnership as we look ahead to expanding the joint ventures’ footprint in the region.”
Najeeb Ghauri, NetSol chairman and CEO, commented, “Today’s announcement marks a major milestone. On behalf of the global NetSol team, we are honored and excited to partner with a premier group so highly respected across the Middle East region such as Atheeb, under the leadership of a dynamic and visionary HRH Prince Abdulaziz Bin Ahmed Bin Abdulaziz AlSaud. Together, we stand ready to deliver leading edge IT services solutions for local public and private sector organizations as well as international clients looking to tap the growth potential of the GCC region. The Kingdom of Saudi Arabia, one of the most capitalized nations in the world, has been expanding its infrastructure across the country and growing its economy in a variety of sectors, thus offering tremendous opportunities to Atheeb NetSol Ltd.”
NTWK Contracted to Provide Public Grievance Management System to Pakistan Government
NetSol Technologies, Inc., a U.S. corporation providing global business services and enterprise application solutions to private and public sector organizations worldwide, announced today before the opening bell that the company was awarded a new contract with the Government of Pakistan to develop and implement a public grievance management system.
This new system will be integrated to support the government’s drive to introduce e-government concepts for providing improved services to its citizens. The online grievance management system will be crucial in the effort of offering citizens efficient and transparent access to government. According to the press release, NetSol will provide a web based interface for citizens to report and track their grievances, along with automation of workflows for the processing and handling of submissions.
Commenting on this government contract, Mr. Salim Ghauri, NetSol Technologies President Asia Pacific, stated, “The provision of a public grievance management system is a continuation of our support to the government in extending citizen-centric e-government services in the country. It further strengthens our track record of delivering successful and high impact solutions in the public arena. We see tremendous opportunities in developing e-government solutions, leveraging leading edge technologies for the public good, and look forward to building our presence in this key sector of the IT services market.”
NTWK Delivers the Best in Virtualization Solutions
NetSol Technologies provides cost-effective, customized IT and software development solutions to public and private sector enterprises. The company’s technologically unbiased designs and solutions are tailored to meet the specific needs of each industry and sector. NetSol’s offerings are enhanced with its BestShoring business model, which draws upon an extensive team of cross-functional subject matter and domain expertise deployed around the world.
The company delivers the best in virtualization solutions with its BestShoring methodology, providing expert products and services for all virtualization needs including:
• Platform Virtualization
• Network Virtualization
• Application Virtualization
• Hosted Environments
• Remote Desktop Computing
• Clustering
• RAID Services
The solutions and services offered by NetSol Technologies include:
• Virtualization Consulting
• Infrastructure Design
• Implementation
• Testing Services
• Hosting
• Maintenance and Support
NetSol is technologically unbiased, using the product and service components that meet a client’s specific requirements, not NetSol’s convenience. The company can supply any expertise needed for a client’s solution. This is due to the fact that NetSol employs a fully-integrated, global network of local project managers, subject matter experts, and expert technical professionals. These experts have in-depth knowledge of various systems, communications, applications and industries.
Great volume ...buyers want in. Any players out there? This little NAZDQ stock is headed back to dollar land.
NetSol Technologies, Inc. (NTWK) to Give Presentation at Rodman and Renshaw Annual China Equities Conference
NetSol Technologies, Inc., a U.S. corporation providing global business services and enterprise application solutions to private and public sector organizations worldwide, announced today that Naeem Ghauri, NetSol President and Head of Global Sales, will be a presenter at the Rodman & Renshaw Annual China Equities Conference.
Taking place March 7-9, 2010 at the Regent Hotel in Beijing, China, the conference will be attended by institutional investors, venture capitalists, sophisticated private investors, industry executives and private equity firms. NetSol has a strong position in China, with the country representing the single largest market for the Company’s flagship NetSol Financial Suite (NFS).
Mr. Ghauri will give the company’s presentation on Tuesday, March 9, 2010 at 12:20 PM Beijing Time / Monday, March 8, 11:20 PM Eastern Time. A live webcast and replay of the presentation will be available online via the investor relations section of the NetSol corporate website. The company will meet with investors and analysts to review the NetSol Financial Suite (NFS) and the company’s comprehensive portfolio of global business services as well as management’s international and China based growth strategies.
NTWK Stands Above The Crowd
There was a day when all a business needed to do in order to enter the computer age was buy an IBM computer and a hire a local programmer to grind out a handful of simple custom programs. Once the accounting and inventory clerks were taught how to use it, a business was on its way.
Today, with the exponential growth of IT technology, it has become increasingly unrealistic for individual businesses, both small and large, to develop and manage the countless aspects of a modern IT operation by themselves. There are simply too many variables and too many decisions for most companies to successfully deal with. The resulting worldwide need for IT support, help that is both trusted and competent, has made NetSol Technologies Inc. one of the most successful enterprise IT management services in the world.
Just choosing a support service is challenging enough for most businesses. There is an endless line of IT consulting firms that are quick to claim they can do whatever needs to be done, and for less money than the next guy. Businesses often discover their limitations and shortcomings only after they’ve been hired. That’s why NetSol has taken remarkable steps to demonstrate clearly that it is not part of that crowd. Specifically, they’re one of the only companies in the entire world to carry a Software Engineering Institute (SEI) CMMI Maturity Level 5 rating for process design, along with ISO 9001 and 27001 certifications, offering a level of trust that few can even come close to.
But NetSol offers a lot more than trust. It has a long history of proven competency and front-to-back services, ensuring that there will be no loose ends. In addition, the company is technologically unbiased, able to tap the product and service components that best meet client requirements.
Solutions include:
• Acceptance Testing Services and Management
• Application Lifecycle Management
• Application Support and Maintenance
• Content Management Systems
• Custom Application Development
• Data Warehousing and Disaster Recovery
• Database Administration
• Development Infrastructure and Environment
• Enterprise Asset Management
• Enterprise Security Management
• Information and Records Management
• Managed Hosting
• Network Infrastructure and Design
• Online Libraries
• Portals
• Process Improvement
• Product and Process Quality Assurance
• RAID Services
• Systems Integration
• Telecommunications Infrastructure and Design
• Virtualization
• Web Services
All of this is why NetSol is still strongly in the game, while the economy has taken out so many others.
NTWK continues to gain business and profitability and over 15% instatutionally owned..... pps will soon follow IMO.Been building a nice position.sagedono
NetSol Technologies, Inc. (NTWK) Announces Signed Agreement with Chinese Finance Company
NetSol Technologies, Inc. announced this morning that it has signed a new agreement with a China-based finance company that has a major European bank and a multi-billion dollar Chinese financial services group as partners. The client will be utilizing NetSol’s NFS BI Module, a unique end-to-end Business Intelligence offering, following a comprehensive due diligence process. This agreement marks the latest deployment of the NFS BI Module in the Chinese market.
According to the press release, NetSol will provide a complete turnkey solution to the client covering data warehousing as well as application dashboard development and customized reporting, enabling management to have instant access to real-time KPIs (Key Performance Indicators). The client is already in the process of deploying Netsol’s flagship NFS solution which is projected to go live in the next couple months.
Naeem Ghauri, NetSol Technologies President and Head of Global Sales, stated, “Business Intelligence is one of the fastest growing Management Information segments in the IT solutions arena. NetSol’s BI solution is built on SAP’s Business Object tool, recognized as the market leader in this segment. We are extremely excited by this win and believe that this opens up a significant new business opportunity for us. NetSol’s existing clients as well as new prospects are great candidates for our BI Solution.”
NetSol Technologies, Inc. (NTWK) FORTUNE 50 Client Upgrades LeasePak License
NetSol Technologies, Inc., a U.S. corporation focused on providing global business services and enterprise application solutions to private and public sector organizations worldwide, announced this morning that it has signed a new upgrade for its LeasePak licensing agreement with a U.S. based FORTUNE 50 company, as ranked by FORTUNE Magazine in their annual ranking of America’s largest corporations.
Najeeb Ghauri, NetSol Technologies Chairman and Chief Executive Officer, stated, “Today’s announcement on the upgrade of our LeasePak solution with this FORTUNE 50 client reflects the strength of our LeasePak solution and our increasing penetration of large blue-chip customers around the world. Our highly scalable LeasePak solution offers North American clients the ability to scale from a core platform via modular components, which allow our clients to upgrade and expand as their business needs evolve, whether it’s 200 leases or 2 million leases.”
He continued, “As part of our broader flagship NetSol Financial Suite (NFS), NetSol can deliver large multinational customers comprehensive solutions for credit, lease and loan accounting, fleet management, and wholesale finance needs across geographic boundaries with localized language and currency capabilities.”
For more than three decades, LeasePak has been a lease, loan, and asset solution for leading banks, equipment lessors, commercial loan companies, and vehicle lessors throughout the North American continent. Featuring unparalleled functional depth, bank-level security, triple audit controls, scalable components, and flexible implementations, LeasePak is a key component to NetSol Financial Suite’s (NFS) end-to-end lifecycle solution.
NetSol Technologies, Inc. (NTWK) – The Changing World Of Business Services
The business services and enterprise software industry is facing more challenges than ever before. Several years of global financial pressure, along with intensifying competition and acquisitions, has changed the industry skyline, leaving once strong and independent companies either gone or gobbled up. Nevertheless, it’s the hope of many that all of the pain now being experienced will ultimately result in more efficient, cost effective, and technologically creative system and service offerings.
The primary reason for the existence of business service and enterprise software companies is the increasing complexity of the environment in which businesses must operate. Gone are the days when all it took to compete was a good product and a collection of dedicated people adding up the monthly results with pencil and paper. Businesses today must deal with a world where an increasing number of variables are related electronically, made possible by a dizzying array of hardware and software options. The complexity, of course, is not limited to office number crunching. It can take the form of sophisticated production and control operations, advanced communication networks, and a seemingly infinite collection of industry-specific systems and equipment.
The expertise required to sort through and implement all of the possibilities has become almost impossible for all but the biggest companies to consider handling in-house. Nearly everyone else has begun turning to outside services with the technical knowledge and connections to analyze the requirements and put together a workable answer, sometimes continuing with the implementation and management of the solution. This growing need has transformed the business services industry into a leviathan, generating hundreds of billions of dollars annually.
But the global recession, together with dramatic new technologies and approaches such as cloud computing, have challenged all but the strongest. Below are just a few of the large and small business services and enterprise software companies that continue to hold their own in an increasingly competitive environment.
• IBM (NYSE: IBM) – The granddaddy of business computing, IBM services virtually every industry and government application worldwide, and continues to drive new technologies.
• SAP (NYSE: SAP) – Considered the world’s leading provider of business software. With customers in more than 120 countries, SAP is known for enterprise resource planning and related applications such as supply chain management, customer relationship management, product life-cycle management, and supplier relationship management.
• Tata Consultancy Services (BOM: TCS) – Operating in the U.S, Europe, and India, the principal activity of TCS is providing information technology and business process outsourcing services, for such industries as banking and financial services, insurance, manufacturing, telecommunications, retail and transportation.
• Oracle (NASDAQ: ORCL) – Industry leader Oracle provides what it considers to be the most complete, open, and integrated business software and hardware systems in the world.
• Wipro Technologies (NYSE: WIT) – Wipro Technologies is a global IT services company that provides Consulting, Business Process Outsourcing, Business Technology Services, Enterprise Application Services, Infrastructure Management, Testing, Product Engineering, Engineering Design and Product Support, with services spread across a range of strategic domains.
• Red Hat (NYSE: RHT) – Offering the world’s leading open source application platform, Red Hat Enterprise Linux 5. Red Hat also offers consulting to help businesses migrating to its unique platform.
• QAD Inc. (NASDAQ: QADI) – An international manufacturing software company, QAD focuses on supply chain collaboration.
• RightNow Technologies (NASDAQ: RNOW) – RightNow offers cloud-based customer sales, service, and analytics, part of the growing trend toward cloud computing.
An obvious strength for any company attempting to present itself as an overall business solution provider is its ability to represent and work with a wide range of technologies and industries. One of the best examples of this is NetSol Technologies (NASDAQ: NTWK). Based outside of Los Angeles, NetSol has become a global leader in innovative customized systems management solutions for manufacturing, equipment distribution and usage in the field, as well as financing and retailing. Their suite of products and services include credit and finance portfolio management systems, hospital/healthcare information management systems (HIMS), SAP consulting and services, custom development, systems integration, and technical services. In short, they’ve grown by being able to tap a range of technologies and expertise. And today, that’s what business services is all about.
A push at EOD to bring back NetSol over .90. Good volume, too, not just a few hundred dollars, so those who bought under .90 may have had a bargain.
GLTA
g.p.
NetSol Technologies, Inc. (NTWK) Announces Q2 FY 2010 Financial Results
NetSol Technologies, Inc., a U.S. corporation providing global business services and enterprise application solutions to private and public sector organizations worldwide, today reported its second quarter financial results for fiscal year 2010, for the period ended December 31, 2009.
Financial highlights for the quarter include:
• $9.5 million in revenues, up 81% year-over-year and 25% sequentially
• Substantial improvement in gross margin to 62% compared to 27% a year earlier
• Operating income of $1.7 million compared to an operating loss of $2.8 million in the same period a year ago
• GAAP net loss applicable to common shareholders of only $0.4 million compared to GAAP net loss of $3.3 million in the year ago period
• EBITDA totaled $0.9 million, or $0.03 per diluted share, versus an EBITDA loss of $1.9 million, or a loss of $0.07 per diluted share, in the same period a year ago
In the press release, NetSol reiterated its guidance for fiscal year 2010 projecting revenues in the range of $33.0 million and $35.0 million, representing full year revenue growth of between 25% and 32% when compared to fiscal year 2009. The company also anticipates a return to GAAP net income for fiscal year 2010, versus a GAAP net loss of $0.30 per diluted share for fiscal year 2009. License revenues for fiscal year 2010 are expected to increase more than 100% versus fiscal year 2009.
Najeeb Ghauri, NetSol Technologies chairman and chief executive officer, stated, “Our fiscal second quarter 2010 financial results marked our third consecutive quarter of double-digit sequential revenue growth, highlighted by an 81% increase in sales versus the year ago period. NetSol also delivered material improvements in gross margin, operating income, GAAP net income, and EBITDA results versus the year ago period. These performance gains highlight the significant improvement in NetSol’s core business as we continue to successfully convert our business pipeline to customer wins.”
He added, “Revenues from license fees resumed a pre-recession trajectory growing over 400% year-over-year as global customers began to further unlock spending and resume the purchase of large strategic software solutions, particularly in the automotive and financial sectors. Additionally, we continue to implement efficiency measures aimed at increasing our long-term profitability. Our efforts to continuously rationalize operating expenses included the relocation of our global and operating headquarters in the U.S., now under the leadership of Mr. Imran Haider, the recently appointed Chief Operating Officer of NetSol North America, Inc., to Alameda which is expected to save the company an estimated $5 million over a 5 year period.”
“As NetSol continued to invest in its core NetSol Financial Suite (NFS)(TM) throughout the global economic downturn the company is well positioned to leverage the upturn in customer activity we continue to see, particularly in China, as NetSol begins the second half of its fiscal year 2010 with continued positive momentum. We are continuing to see increased interest among major customers as well as potential partners in the sector and see excellent opportunities for collaboration and strategic initiatives as we look ahead to the second half of our fiscal year 2010,” concluded Mr. Ghauri.
Business highlights for the quarter include:
• Relocation of global and U.S. operating headquarters which will save approximately $5 million over a five year period
• Appointment of Mr. Imran Haider as the new Chief Operating Officer of NetSol North America, Inc. bringing 8 years of product and sales expertise from NetSol Asia Pacific
• Toyota Motor Finance China upgrades to a NetSol Financial Suite(TM) license
• A major Chinese automotive finance company awarded NetSol a $2 million contract
• Expanded sales and delivery capabilities in China, leveraging fast growing Chinese consumer and asset finance market
• NetSol secured a major Information Security contract in the mobile telecommunications sector
• BMW Group Financial Services awarded NetSol additional services contract
• NetSol awarded IT Services contract in Saudi Arabia, further expanding presence in the Middle East market
• United Kingdom based bank awarded NetSol a $1 million major software and IT services contract
• NetSol IT Business Services awarded Information Security contract to implement a data center security project in conjunction with a leading solution integrator in Pakistan
Low volume walk down today. Good buy op before earnings.sagedono
NetSol Technologies, Inc. (NTWK) is an Ideal Solution Provider for Energy and Utilities, Including Green Energy
NetSol Technologies is a global leader in innovative, customized systems management solutions for manufacturing, equipment distribution and usage in the field, as well as financing and providing retail goods or services.
With the capacity to bring a worldwide domain of specific subject matter expertise to bear on any given project, a proven industry track record, and the proprietary BestShoring™ methodology which yields highly customizable and region-neutral process capability, NetSol is the ideal choice for a custom-tailored solution that uses products, services and certified personnel specific to the industry and sector.
NetSol fully supports the production and use of energy exploration, generation and control equipment with cutting-edge systems solutions and software via a technologically unbiased approach that uses whatever products or service components the client requires, thus allowing the Company to leverage all of its vast experience with the many platforms and protocols unique to the energy sector.
By providing a synergistic use of personnel and expertise in applications, communications and systems, NetSol is able to offer manufacturing support solutions in: agile manufacturing systems development; business intelligence; enterprise resource planning and security management; flexible manufacturing systems development; manufacturing process improvement; product lifecycle management; supply chain management; and ISO CNC control software.
NetSol also offers the following equipment control solutions: drilling and extraction control software; software for 3D/4D seismic modeling and depth imaging; solar and wind power charge control, inversion, and system monitoring software; and various other instrument control software.
NetSol also leverages its proprietary NetSol Financial Suite (NFS) to offer a robust solution for wholesale financing via the Wholesale Finance System (WFS) component, a highly customizable and intuitive environment for managing and automating bailment and floor plan requirements.
Comprised of five modules which can function as an integrated solution or as standalone solutions, the WFS is a superb, enterprise-level package consisting of the following modules: Credit Request Management; Loan Management; Stock Auditing; Billing and Settlement; and a Dealer and Auditor Access Module for web-based analysis.
NetSol’s NFS is also ideal when it comes to facilitating green power purchase agreements, which have become vastly more available to small business and even homeowners that want to exploit the benefits of green energy without enduring the exorbitant initial costs associated with the necessary equipment.
With wind, solar and other green energy companies offering purchase power agreements to a wider range of clientele, the NFS offers a rich, user-driven solution to managing the relevant transactions irrespective of size, while providing owner transfer and equipment purchase options as well as the ability to track system statistics.
NTWK to Report Fiscal Second Quarter 2010 Results Next Week
NetSol Technologies, Inc., a U.S. corporation providing global business services and enterprise application solutions to private and public sector organizations worldwide, announced that its fiscal second quarter 2010 financial results, for the period ended December 31, 2009, will be announced on Wednesday, February 10, 2010.
Following the announcement, the company will host a conference call at 11:00 AM ET (8:00 AM PT) to review the quarterly financial and operational performance. Najeeb Ghauri, NetSol Technologies chairman and chief executive officer, will host the call, which will be webcast live. The webcast and a supporting slide presentation will be made available on the investor relations section of the NetSol corporate website at www.netsoltech.com. Telephone access to the conference call will also be available by dialing +1 (877) 407-0782.
An audio replay of the conference call will be available approximately two hours after the conclusion of the call. To access the replay in North America, dial +1 (877) 660-6853 or, when calling internationally, dial +1 (201) 612-7415, using replay account code # 286 and conference ID # 344363. An archived replay of the conference webcast will also be available on the investor relations section of the NetSol corporate website at www.netsoltech.com.
No, I've not followed this very long.
I think it's through QS posts that I got acquainted with NetSol.
I have not seen much of any discussion on this board and other boards are also relatively quiet.
NTWK does look as if it could break out. At least, the retracing did not go back to the .80's either.
I have some but not that much, more from lack of enough funds...
GLTY too, (I do not think we'll need much luck here!)
g.p.
I agree with your view on this stock and chart wise this looks to be ready to break out. I have also been loading up a nice position. Wondering if you have followed NTWK long and is there ever any discussion on this board? GLTY, sagedono
NTWK – Also a Leader in IT Consulting
Netsol Technologies Inc. has been a worldwide provider of global business services since 1995. The company provides cost-effective, requirements-oriented IT and software development solutions to private and public sector enterprises.
Information technology services are valuable only if they fulfill the company’s business strategy, project goals and overall objectives. Netsol Technologies’ expert consultants have the technical knowledge and business experience to ensure an optimized development process in alignment with basic business principles. The company’s consultants help to maximize organizational efficiencies through enhanced business processes and cost-saving measures which cater both to clients’ immediate needs and long-term goals.
In rapidly changing business markets, organizations must move to state-of-the-art IT solutions to survive, compete and succeed. Netsol’s capable and globally experienced resources help organizations accomplish this with ease and efficiency. After studying the existing and desired business solutions, Netsol develops and delivers the right solution for its client’s short-and-long term goals. The company provides the streamlining, realignment and restructuring of an organization’s business processes that helps clients gain meaningful business value from planned IT implementations.
Netsol’s team is continually exposed to the latest best practices in the industry to deliver a creative and actionable approach to a company’s technology issues. Their experience in the financial services, healthcare, e-commerce and business-to-business areas has allowed the company to develop a clear and concise management process. Step by step, Netsol dedicates resources to understand a client’s specific needs and underlying issues, troubleshoot to determine possible solutions, and develop customized systems to meet each client’s unique objectives.
In effect, Netsol becomes an extension of a client’s senior technology staff. In addition, the company takes an active approach to ensure adoption and compliance through training and communication, because they know that technology solutions are valuable only if they are embraced.
Where's the people who started this board? This is a stock that deserves more recognition.Anyone home? sagedono
NetSol Technologies, Inc. (NTWK) Goes Public
As a worldwide provider of global business services and enterprise application solutions, one of the strengths of NetSol Technologies Inc. is that it has been successful in servicing a remarkably wide range of industries, including financial services, manufacturing, energy and utilities, health and life sciences, and even real estate. Less known is that the company also serves a broad spectrum of public sector agencies:
• School districts, colleges, and universities
• Libraries, museums, and zoos
• Nonprofits and NGOs
• Transit, transportation, ports, and airports
• Infrastructure, public utilities, and public works
• Law enforcement and fire departments
• Clinics, hospitals, and health services
• Elected offices, administrative services, and other agencies
Although public agencies require a number of special considerations, NetSol still regards its top-down commitment to the highest ethical principles and quality standards as the key to this market. They’re one of the few companies in the world to carry a Software Engineering Institute (SEI) CMMI Maturity Level 5 rating for process design and ISO 9001 and 27001 certifications.
NetSol, by employing a global network of senior project managers and technical professionals to complete the necessary design, development, implementation, and support, has penetrated just about every aspect of public sector operations:
• Enterprise Resource Planning
• Human Resource Management
• Information and Records Management
• Data Access and Change Control
• Enterprise Security Management
• Product Lifecycle Management
• Supplier Relationship Management
• Supply Chain Management
• Scanning and Tracking Support Software
• Customer Relationship Management
• Financial Management
• Enterprise Asset Management
• Applications Management
• Process and Product Quality Assurance
• Process Improvement
• Risk Analysis
• Business Intelligence
• Portals
• Online Libraries
• Web-Based Learning
In addition, the company maintains a strict adherence to applicable public sector regulations, such as Family Education Rights and Privacy Act (FERPA), Federal Information Security Management Act (FISMA), Health Insurance Portability and Accountability Act (HIPAA), International Public Sector Accounting Standards Board (IPSASB), and the Sarbanes-Oxley Act.
Taken together, these attributes have made NetSol one of the strongest competitors in the public sector.
Been building a position in the last week, 7700 shares so far and I'm still hungry. Forward guidance looks outstanding, looks like this will be much higher in 2010.Luck to all who found NTWK, a gem in the rough IMO. sagedono
Of course, QS, sorry I kind of forgot.
Actually, that PR is part of the reason I'm in and
probably will accumulate a little too.
Good revenues, higher than expected and positive return,
what else would one need?
g.p.
The company recently provided financial guidance projecting a return to GAAP net income (profitability) for fiscal year 2010 - which ends June, 30th, 2010
Here is the complete release:
http://finance.yahoo.com/news/NetSol-Technologies-Issues-iw-4194084204.html?x=0&.v=1
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NetSol Technologies, Inc. (NTWK), a worldwide provider of global business services and enterprise application solutions, leverages its BestShoring(TM) practices and highly experienced resources to deliver high-quality, cost-effective solutions. Their suite of products and services include credit and finance portfolio management systems, hospital/healthcare information management systems (HIMS), SAP consulting and services, custom development, systems integration, and technical services.
NetSol’s commitment to quality is demonstrated by its achievement of the ISO 9001, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a distinction shared by less than 100 companies worldwide. These distinctions are a result of adhering to rigorous quality standards, resulting in the delivery of solutions that are secure, reliable, properly planned, and meticulously executed.
Serving the global financial, healthcare, insurance, energy, and technology markets, NetSol has operations, offices, and joint ventures in Adelaide, Bangkok, Beijing, Lahore, London, Riyadh, San Francisco, and San Pedro Sula. NetSol Technologies' clients include Fortune 500 manufacturers, global automakers, financial institutions, utilities, technology providers, and government agencies.
Netsol is well positioned with its core product offerings as it continues to expand into new international market opportunities. Looking forward, the company is very optimistic of its short-term and long-term outlook as it sees strong growth in Asia Pacific as well as the South East Asian markets, while also envisioning unlimited potential for its niche solutions and services in the Americas.
Most Recent News: http://finance.yahoo.com/q/h?s=NTWK
Webcasts - Conference Calls: http://www.b2i.us/profiles/investor/fullpage.asp?f=1&BzID=897&to=cp&Nav=0&LangID=1&s=0&ID=1332
SEC Filings: http://www.b2i.us/profiles/investor/seclink.asp?BzID=897
IR Contact:
Christopher Chu | |
Grayling | |
cchu@hfgcg.com | |
Phone: | (646) 284-9426 |
Fax: | (646) 284-9494 |
Najeeb Ghauri
Chairman and Chief Executive Officer
Najeeb Ghauri is Chairman of the Board of Directors and CEO of NetSol Technologies, Inc., a worldwide provider of business solutions and enterprise application solutions. In the early years of the Company, Mr. Ghauri was responsible for restructuring the company's business model into that of an IT company and was instrumental in the completion of the NetSol Technologies IPO in 1998. He also spearheaded the successful listing of NetSol (NTWK) on the Nasdaq Capital Market (formerly known as Nasdaq Small Cap) in December 1999. At the time of its IPO, NetSol was the first IT company originated from Pakistan to be listed on Nasdaq. NetSol grew from just five people to almost 1000 in 2009 and grew from $100K revenue in 1998 to $37MN in 2008. Today, NetSol has nearly 200 customers worldwide and offices in 6 countries.
Mr. Ghauri was influential in listing NetSol's Pakistani subsidiary on the Karachi Stock Exchange (KSE). In addition, Mr. Ghauri helped establish the first US Company listed on both Nasdaq Capital Market (NASDAQ CM:NTWK) and Dubai stock exchange (NASDAQ DUBAI:NTWK).
On September 13, 2006 and again in June 25, 2008, Mr. Ghauri represented NetSol Technologies as he presided over the closing bell for the Nasdaq Exchange in New York City. He has been twice nominated in the United States for the Ernst & Young ‘Entrepreneur of the Year', once in 2001 and again in 2008.
Prior to launching NetSol in the U.S., Mr. Ghauri had over 15 years of combined marketing and management experience with Fortune 500 companies such as Unilever and Atlantic Richfield Corporation (ARCO). He received his bachelor's degree from Eastern Illinois University and earned an MBA in marketing from the Drucker School of Management at the Claremont Graduate School.
Mr. Ghauri is also active in various charitable and educational non-governmental organizations (NGOs) worldwide. He is a founding board member of the Pakistan Human Development Fund, which provides educational tools to children in underdeveloped areas of Pakistan. He is also a founding board member and Vice-Chairman of the U.S. Pakistan Business Council in Washington, D.C., a U.S. Chamber of Commerce body and the leading private sector association in the United States promoting trade and investment between the United States and Pakistan.
Boo-Ali Siddiqui
Chief Financial Officer
As Chief Financial Office and Company Secretary of NetSol Technologies Ltd., Mr. Siddiqui has managed the finances of all companies in the Asia group since 2005. Previous to this he served as Deputy Registrar of Companies for the Securities & Exchange Commission of Pakistan (SECP) and as Senior Manager, Audit and Tax, for Ehtisham & Co., Chartered Accountants.
Mr. Siddiqui holds a Bachelor of Commerce from Hailey College of Commerce, Lahore, University of The Punjab, Pakistan, is a Fellow Member of both the Institute of Chartered Secretaries & Managers (FICS) and the Pakistan Institute of Public Finance Accountants (FPA), and is an Associate Member of the Institute of Chartered Accountants of Pakistan (ACA).
Patti L. W. McGlasson
Company Secretary and Corporate Counsel
Patti L. W. McGlasson joined NetSol as Corporate Counsel in January 2004 and was elected to the position of Secretary in March 2004. Prior to joining NetSol, Ms. McGlasson practiced law at Vogt & Resnick, where she focused on corporate, securities and business transactions. Ms. McGlasson was admitted to practice in California in 1991. She received her BA in Political Science in 1987 from the University of California, San Diego and her JD and LLM in Transnational Business from the University of the Pacific, McGeorge School of Law, in 1991 and 1993, respectively.
Salim Ghauri
President, Netsol Technologies Asia Pacific Region
Salim Ghauri is the President Netsol Technologies Inc. Asia Pacific Region and founder of former named Network Solutions, Ltd. Lahore, Pakistan, a wholly-owned subsidiary of NetSol Technologies, Inc.
Before establishing NetSol Technologies, Mr. Ghauri was a successful IT consultant in Australia. His last assignment was with BHP Steel in Sydney. As a system integrator he was responsible for software and hardware solutions. His main achievement was the introduction of a PC-based network in BHP Steel. From 1988-89, Mr. Ghauri consulted with the State Rail Authority of NSW Australia for its MIS reporting.
Prior to moving to Australia, he was in Saudi Arabia, where he started his IT career at Citibank, Riyadh in 1979. After leaving Citibank, he started his first venture. Mr. Ghauri is credited with setting up the first IT-based training institute and a software house in Damam, Saudi Arabia.
Mr. Ghauri received his BS degree in Computers from the University of Punjab in Lahore.
Naeem Ghauri
President and Head Of Global Sales
As Head of Global Sales for NetSol Technologies, Mr. Ghauri is responsible for all Business Development, M&A, Account Management and Sales activities worldwide. Prior to heading the global sales organization, Naeem served as President of Netsol Technologies Inc. European Region and Global Products. Naeem Ghauri brings a wealth of IT experience in the leasing and finance industries and tremendous business management experience in international markets.
From 1994-1999, he was a senior IT consultant with various blue-chip companies in Europe. At Debis, he managed the Hercules Project, a complex and challenging project valued in excess of $70 million. It involved supervising over 200 project managers, developers, analysts and users in nine European countries.
Prior to taking on the Hercules Project, Mr. Ghauri was a senior project manager in Singapore with Mercedes. From 1983-1995, he held various assignments in Australia and the United Kingdom with Citibank and Fidelity Investments, respectively, in data processing departments. He also ran several successful business ventures in retail computers and in the real estate industry in Australia.
Imran Haider
Chief Operational Officer, NetSol Technologies North America
Imran Haider is a seasoned IT professional with proven expertise in Sales and Information Technology Management. He has been working with NetSol Technologies since 2002 and has played a vital role in the company's success in Asia Pacific region. Before joining NetSol Technologies, Imran had worked with Sayyed Engineers and Interactive Communications in roles related to system implementation, market research, and sales.
Mr. Haider is highly qualified in disciplines of Sales, Marketing, Finance and Information Technology. He completed his MBA in 1999, with focus on Marketing and Finance, from the prestigious Lahore University of Management Sciences (LUMS) Pakistan. Later he returned to LUMS and augmented his qualification with a certification in IT Management. Imran also holds a Master's Degree in Economics from University of the Punjab, Pakistan.
Prab Brinton
Vice President, Human Resources and Operations
Prab Brinton serves as Vice President of Human Resources and Operations for NetSol Technologies North America. With over 15 years of experience in Human Resources and Operations in the Technology and Financial sectors, Ms. Brinton brings a diverse level of experience to her position. Ms. Brinton's prior work experience has included Oracle, Etec Systems, First Franklin Financial, and FKI Logistex. Ms. Brinton attended San Francisco University with a concentration in the field of Human Resources.
Mike Miller
Vice President, Partner Services
Mike Miller serves as Vice President of Partner Services as part of NetSol's Global Sales organization. With his many years of experience in commercial equipment leasing, banking, systems, project management, operations, and training, Mr. Miller brings an extraordinary level of experience to his position. Mr. Miller has worked with many of the premier leasing firms in North America in his 30-plus years of experience in the fields of business operations and information technology.
His depth of experience in the world of financial services is exceeded only by the extraordinary versatility he brings to his position at NetSol Technologies North America. Mr. Miller has earned a reputation as an invaluable and committed business partner to NetSol customers.
Malea Farsai
Corporate Counsel
Malea Farsai is Corporate Counsel for NetSoI Technologies, Inc. Prior to joining the company, Ms. Farsai represented NetSol in a private law firm practice, which focused primarily on corporate, securities, intellectual property and general transactional matters. Ms. Farsai was admitted to practice in California in 1996. She received her BA in Political Science in 1992 from University of California, Irvine and her JD in 1996.
Sajjad Kirmani
Executive Vice President IT/Operations, NetSol Technologies, Ltd.
Sajjad Kirmani is the Executive Vice President and the Director for NetSol Technologies Limited. He has been associated with NetSol since May 1998. As EVP IT & Operations, he manages the operation of the company across the broad spectrum of IT products and services portfolio as well as supporting functions of human resource management, network operations and quality engineering.
Mr. Kirmani has over 22 years of professional IT experience in software development, project management and Information Systems management. Prior to joining NetSol, Mr. Kirmani worked for Coca-Cola Corporation for 6 years as Information Services Manager for their South West Asia Region spreading across 5 countries in Asia Pacific.
Mr. Kirmani holds a Master's degree in Computer Sciences from University of London with specialization in Database Management & Information Systems, along with a Master of Business Administration (MBA) degree from IBA, University of the Punjab. He is the Executive Council member of Computer Society of Pakistan Lahore Chapter and was the Vice president of Pakistan Software Houses Association (PASHA) from 2003-2004.
Shaz Khan
Senior Vice President, SAP Sales and Solutions
Shaz Khan is Senior Vice President, SAP Sales and Solutions at NetSol Technologies. He has been actively implementing SAP solutions for over 12 years with a specific focus in SAP supply chain and procurement applications, including Supplier Relationship Management (SRM), MDM, and Materials Management/Production Planning. Shaz oversees all SAP practice areas and service offerings under NetSol Technologies, including SRM, SCM, MDM and Interactive Forms, Portal, and Business Objects. He combines his extensive experience in Information Technology, Project Management, Business Process Modeling, and SAP Supply Chain consulting to lead consulting teams to deliver high-value and results-oriented SAP solutions for Fortune 1000 clients.
He began his career as a Senior Information Technology Consultant with Ernst & Young and has managed and implemented SAP supply chain, strategic sourcing and procurement, and business process reengineering projects for numerous clients in the Media, Entertainment, Chemical, Oil, and Financial Services Industries. Shaz is a certified SAP Materials Management and SAP SRM consultant and an accomplished author of two SAP configuration guides, SAP SRM Extended Classic Cookbook and SRM Advanced CCM Cookbook. Shaz received his B.A. in Computer Science and a B.A. in Economics from the University of California at Berkeley.
Mark Pellas, PMP
Senior Vice President, SAP Consulting Services
Mark Pellas is Senior Vice President, SAP Consulting Services at NetSol Technologies. Mark is responsible for managing the consulting personnel, providing tools and procedures required to support the sale and delivery of SAP solutions, and for providing guidance on project timelines and resource planning for all engagements. In addition, Mark oversees all SAP alliance partnerships and joint marketing programs for NetSol Technologies.
He has been working with SAP in various positions since 1991 and received his first exposure to SAP as an ABAP developer in R/2. He worked for SAP Australia as a Client Engagement Manager and Lead Technical Consultant managing projects for large local clients before moving to the United States in 1995. Mark brings considerable project management experience and a strong understanding of the development and project implementation methodologies instituted at Big 4 implementation partners. Mark has consulted for major Fortune 500 clients including Pacific Gas and Electric, Eveready Batteries, Caltex Petroleum, Browning Ferris Industries, LTV Steel, General Motors, Delphi Automotive, TiVo Inc, Deluxe Checks Inc, NBC Universal, Clark County, Nevada and SAP. Mark is a PMP certified professional and received his Bachelor of Applied Science from University of Tasmania and a Bachelor of Education from Tasmanian State Institute of Technology.
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