On 20 Jan 2020, NetSol Technologies, Inc. (NASDAQ: NTWK) spotted trading -55.26% off 52-week high price. On the other end, the stock has been noted 5.71% away from the low price over the last 52-weeks. The stock changed -3.14% to recent value of $3.7. The stock transacted 30495 shares during most recent day however it has an average volume of 38.5K shares. The company has 11.07M of outstanding shares and 10.05M shares were floated in the market.
NETSOL Technologies, Inc. (NTWK) stated results for the fiscal first quarter ended September 30, 2019.
Fiscal First Quarter 2020 Financial Results
Total net revenues for the first quarter of fiscal 2020 were $13.6M, contrast with $16.4M in the previous year period. The decrease in total net revenues was primarily Because of a decrease in total license fees of $3.3M and a decrease in services revenues of $199,000, which was offset by a raise in total maintenance fees of $652,000.
- Total license fees were $2.7M, contrast with $6.0M in the previous year period.
- Total maintenance fees were $4.4M, contrast with $3.7M in the previous year period.
- Total services revenues were $6.5M, contrast with $6.7M in the previous year period.
Gross profit for the first quarter of fiscal 2020 was $6.1M (or 45.0% of net revenues), contrast to $8.2M (or 50.2% of net revenues) in the first quarter of fiscal 2019. The decreases in gross profit and gross profit as a percentage of revenue were primarily Because of decreases in revenue by an amount that was greater than the related decreases in cost of revenues, respectively. The decrease in cost of revenues was predominantly driven by decreases in salaries and consultants’ costs, lower depreciation and amortization and other expenses, which were offset by a raise in travel expenses.
Operating expenses for the first quarter of fiscal 2020 reduced 1.5% to $6.5M (or 48.2% of net revenues) from $6.6M (or 40.5% of net revenues) for the first quarter of fiscal 2019. The decrease in operating expenses was primarily Because of a decrease in general and administrative expenses, which was offset by a raise in sales and marketing and research and development expenses.
GAAP net loss attributable to NETSOL for the first quarter of fiscal 2020 totaled $(1.8)M or $(0.16) per diluted share, contrast with GAAP net income of $963,000 or $0.08 per diluted share in the first quarter of fiscal 2019. GAAP net loss attributable to NETSOL included a $1.8M loss on foreign currency exchange transactions in the first quarter of fiscal 2020, which was a important increase contrast with a gain of $11,000 in the previous year period.
Non-GAAP adjusted EBITDA loss for the first quarter of fiscal 2020 totaled $(1.1)M or $(0.09) per diluted share, contrast with non-GAAP adjusted EBITDA of $2.2M or $0.19 per diluted share in the first quarter of fiscal 2019 (see note regarding “Use of Non-GAAP Financial Measures,” below for further discussion of this non-GAAP measure).
At September 30, 2019, cash and cash equivalents were $17.6M, a raise from $17.4M at June 30, 2019.
Its earnings per share (EPS) expected to touch remained 92.00% for this year while earning per share for the next 5-years is expected to reach at 28.00%. NTWK has a gross margin of 49.70% and an operating margin of 7.40% while its profit margin remained 8.90% for the last 12 months. According to the most recent quarter its current ratio was 2.7 that represents company’s ability to meet its current financial obligations. The price moved ahead of -1.46% from the mean of 20 days, -9.42% from mean of 50 days SMA and performed -31.97% from mean of 200 days price. Company’s performance for the week was 1.09%, -1.60% for month and YTD performance remained -7.50%.