0001493152-17-012196.txt : 20171031 0001493152-17-012196.hdr.sgml : 20171031 20171031153617 ACCESSION NUMBER: 0001493152-17-012196 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20171031 ITEM INFORMATION: Results of Operations and Financial Condition FILED AS OF DATE: 20171031 DATE AS OF CHANGE: 20171031 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: 171165629 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 form8-k.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, 2017

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.
Incorporation or Organization)		Employer NO.)

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 30, 2017, NetSol Technologies, Inc.’s Pakistani subsidiary, NetSol Technologies, Ltd. posted the results of operations and financial conditions for quarter ended September 30, 2017. The results are posted on the Pakistan 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 30, 2017, for NetSol Technologies Ltd.

Page 2

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:	October 31, 2017	/s/ Najeeb Ghauri
		NAJEEB GHAURI
		Chief Executive Officer

Date:	October 31, 2017	/s/ Roger Almond
		ROGER ALMOND
		Chief Financial Officer

Page 3

EX-99.1 2 ex99-1.htm

EXHIBIT 99.1

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, 2017.

Financial Highlights Q1, 2017-18

	●	Net revenues were PKR 833 million compared to PKR 963 million in corresponding quarter of last fiscal year

	●	Gross profit remained PKR 261 million versus PKR 360 million in the same period of last fiscal year

	●	Company posted a net profit of PKR 126 million compared to PKR 77 million last year

Company posted revenues of PKR 833 million for the quarter ended September 30, 2017 compared with PKR 963 million in same quarter of last year. Gross profit remained at PKR 261 million compared to PKR 360 million in the corresponding period. Cost of sales of the company decreased from PKR 603 million to PKR 571 million due to the cost cutting measures taken by the company during the last fiscal year. The Company posted a net profit after tax of PKR 126 million or a profit of PKR 1.40 per diluted share in comparison of a net profit of PKR 77 million or PKR 0.85 per diluted share in the same quarter of fiscal year 2017.