share_log

NetSol Technologies Shares Down 15% on Surprise 3Q Loss >NTWK

道琼斯 ·  Nov 12, 2019 23:23

DJ NetSol Technologies Shares Down 15% on Surprise 3Q Loss >NTWK



By Chris Wack



NetSol Technologies Inc. (NTWK) shares dropped 15%, to $4.84, after the company reported a surprise loss.

The information technology company reported a loss in the third quarter of $2.2 million, or 16 cents a share, compared with earnings of $1.3 million, or 8 cents a share, in the same period a year earlier. Analysts polled by FactSet were looking for earnings of $1.5 million, or 13 cents a share.

Revenue for the quarter came in at $13.6 million, compared with last year's $16.4 million and the $15.2 million analysts were expecting.

NetSol said the decrease in total net revenues was primarily due to a decrease in total license fees of $3.3 million and a decrease in services revenues of $199,000, which was offset by an increase in total maintenance fees of $652,000.



Write to Chris Wack at chris.wack@wsj.com



(END) Dow Jones Newswires

November 12, 2019 10:23 ET (15:23 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment