Asset finance software provider NetSol
Technologies is anticipating record annual revenues for the fiscal
year 2012, according to a preliminary report from the firm.
The California-based company has estimated
revenue for the 12 months to 30 June 2012 could total as much as
$38m (€31m) with fourth quarter revenue at $12.6m.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The figures represent the company’s best-ever
annual and final-quarter figures and top the estimates made by
NetSol in the previous quarter of of $35.5m annual revenue and
growth of 30 to 40% from the first half of the fiscal year to the
second.
NetSol’s revised figures put second half
growth at 50 to 56% over the first half of the year.
Return to strength
The company attributed the increase to having
signed a number of new contracts in its fourth quarter and
continued demand for its NFS Suite software product.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataNetSol
previously reported net income of $1.7m for the third
quarter of its fiscal year, ending 31 March.
That figure, although down 48% year-on-year
from $3.3m, was a return to strength after the firm reported a
first quarter loss of $1.5m and a profit of just £320,000 in
the second quarter.
With the current revenue estimates NetSol said
it expects to achieve profitability for the full fiscal year and
will report its complete financial results in early September.
grant.collinson@vrlfinancialnews.com
