0001171843-14-005176.txt : 20141103 0001171843-14-005176.hdr.sgml : 20141103 20141103160146 ACCESSION NUMBER: 0001171843-14-005176 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20141103 ITEM INFORMATION: Results of Operations and Financial Condition FILED AS OF DATE: 20141103 DATE AS OF CHANGE: 20141103 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NETSOL TECHNOLOGIES INC CENTRAL INDEX KEY: 0001039280 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 954627685 STATE OF INCORPORATION: NV FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-22773 FILM NUMBER: 141189457 BUSINESS ADDRESS: STREET 1: 24025 PARK SORRENTO STREET 2: SUITE 410 CITY: CALABASAS STATE: CA ZIP: 91302 BUSINESS PHONE: 8182229195 MAIL ADDRESS: STREET 1: 24025 PARK SORRENTO STREET 2: SUITE 410 CITY: CALABASAS STATE: CA ZIP: 91302 FORMER COMPANY: FORMER CONFORMED NAME: NETSOL INTERNATIONAL INC DATE OF NAME CHANGE: 19990819 FORMER COMPANY: FORMER CONFORMED NAME: MIRAGE HOLDINGS INC DATE OF NAME CHANGE: 19970519 8-K 1 f8k_110314.htm FROM 8-K f8k_110314.htm

 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM 8-K


CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
----------------------------------------------------------------------

Date of Report (Date of earliest event reported): October 31, 2014


Commission file number: 0-22773

 

NETSOL TECHNOLOGIES, INC.
(Exact name of small business issuer as specified in its charter)
 
 
       NEVADA      95-4627685
 (State or other Jurisdiction of   (I.R.S. Employer NO.)
Incorporation or Organization)
    
 

24025 Park Sorrento, Suite 410, Calabasas, CA 91302
(Address of principal executive offices) (Zip Code)

(818) 222-9195 / (818) 222-9197
(Issuer's telephone/facsimile numbers, including area code)
 
 
 
 
 
Item 2.02 Results of Operations and Financial Condition.

On October 31, 2014, NetSol Technologies, Inc.’s Pakistani subsidiary, NetSol Technologies, Ltd. posted the results of operations and financial conditions for quarter ended September 30, 2013.  The results are posted on the Karachi Stock Exchange.  These results represent only the results of one subsidiary of NetSol Technologies, Inc. and are not representative of the results of the NetSol Technologies, Inc. on a consolidated basis.

The information in this report shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document field under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Exhibits

99.1 Earnings Announcement for October 31, 2014 for NetSol Technologies Ltd.


 
 
 


SIGNATURES

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 
 
   
NETSOL TECHNOLOGIES, INC.
       
Date:    November 3, 2014                                                                  /s/ Najeeb Ghauri  
    NAJEEB GHAURI  
    Chief Executive Officer  
 
 
 
Date:    November 3, 2014                                                                  /s/ Roger Almond  
   
ROGER ALMOND
  
   
Chief Financial Officer
  
 
 
 

 EX-99.1 2 exh991.htm PRESS RELEASE exh991.htm



EXHIBIT 99.1


 NTPK RESULTS – FIRST QUARTER ENDED SEPTEMBER 30, 2014

NetSol Technologies Limited Pakistan, (“NetSol PK”), a majority owned subsidiary of NetSol Technologies, Inc. servicing the Asia-Pacific region, today announced financial results for the quarter ended September 30, 2014.

Financial Highlights Q1, 2014-15

• Revenues decreased by approximately 7% compared with the corresponding quarter of fiscal 2013-2014
• Company posted a net loss of PKR 190 million in the first quarter

NetSol PK reported revenues of PKR 493 million, which represents a 7% decrease as compared to PKR 530 million reported for the comparable quarter of fiscal 2014. Company also posted a net loss of PKR 190 million compared to a net profit of PKR 140 million in same quarter last year. Main reason of this decrease in profits is the decline in sales due to transition from legacy to next generation product. Also included in last year’s profits is a currency exchange gain of PKR 105 million whereas the same gain recorded in the current quarter was just PKR 312K. Increase in loss is also due to increase in depreciation and amortization expense charged on the intangible assets which were earlier under development stage but now their amortization has started. Diluted loss per share was PKR 2.13 per share compared to a profit of PKR 1.57 per share reported in the corresponding period of fiscal 2014.