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)

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