consolidated revenues of $36.6 million (€25.4 million) for the year
ended 30 June 2008 – a 25 percent increase compared to the previous
year (2007: $29.3 million).
Consolidated gross profit for the year was $20.9 million, or 57
percent of revenues. GAAP net income for the year was a record $7.2
million compared to a net loss of $4.9 million for 2007.
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Najeeb Ghauri, NetSol’s chairman and chief executive, said that
the results were complemented by the rollout of the company’s
BestShoring business model and Global Business Services
platform.
He said: “These financial results were supported by our ability
to execute on our strategic product and growth objectives while
further strengthening our global client servicing and delivery
platform.
“The strength of our core NetSol financial suite of products
helped drive double-digit annual growth in licence, service and
maintenance revenues.
Our success was highlighted by rising average deal sizes as well
as the expansion or penetration of business verticals such as
finance, e-government and health care.”
“Ghauri stressed that the company is continuing to invest in
sales and marketing to support its core operating divisions,
particularly in North America where it recently announced the
opening of a new global operating headquarters.
