NetSol Technologies swings to a profit in Q4
Shares of NetSol Technologies Inc. (Nasdaq: NTWK) are soaring in pre-market trading today after the multinational provider of enterprise software and IT services said it swung to a profit in its fiscal fourth quarter.
For the three months ended June 30, the Calabasas, Calif.-based firm recorded GAAP net income of $1.3 million, or $0.07 per share, compared with a GAAP net loss of $1.7 million, or $0.11 per share, in the fourth quarter of 2006.
NetSol’s revenues increased 84% to $8.6 million from $4.7 million in the same period last year.
Shares of NetSol (NTWK) surged 33.14%, or $0.56, to $2.25 in pre-market trading.
