NetSol Technologies Inc. (NASDAQ: NTWK)
Calabasas, CA 91302
http://www.netsoltek.com/
52-week low / high: $1.27 / $2.15
Shares Outstanding: 19.66 million
Market Capitalization: $34.0 million
NetSol Technologies, Inc. is an international IT and business consulting company serving the lease and finance, banking and financial services industries worldwide. The company operates from offices in China, Europe, East Asia and the United States. NetSol specializes in enterprise solutions; its chief products (and target industries) are LeaseSoft Suite (leasing and financing) and InBanking Suite (banking and other financial operations).
In the fiscal third quarter ended March 31, 2007, NetSol reported revenues of $7.6 million, up 51% from $5.0 million in the year-ago quarter. For the nine months ended in March, revenues were up 47% to $20.7 million, from $14.0 million. NetSol’s average gross margin the last three quarters was 50%.
Established in the United States in 1997, NetSol entered the Chinese and European markets during 2004/2005. In June 2006, NetSol acquired Burlingame, California-based McCue Systems Inc., a provider of lease and loan portfolio management software for banks, leasing companies and manufacturers. The deal was for approximately $8.5 million.
On August 1, 2007, NetSol was awarded a contract for the development and implementation of a Motor Vehicle Registration System from the Province of Punjab, Pakistan which comprises 34 sub-districts. Under terms of the agreement, the value of the deal will not be disclosed.
In July, NetSol announced the licensing and training of its premier product, LeaseSoft, to a major Hong Kong-based vehicle finance operator. The contract is estimated at over $1 million.
