NETSOL TECHNOLOGIES INC NTWK Income Statement

Netsol technologies inc (NTWK)

Income statement / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10
Net Revenues:
Total net revenues
60,086	63,682	64,995	67,819	0	0	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
License fees
-	-	-	-	-	-	-	-	-	-	-	-	20,229	15,857	13,204	8,352	4,505	4,361	5,346	6,328	5,507	6,410	4,765	5,433	11,045	13,717	16,767	17,756	18,814	16,993	15,535	13,369	7,117	7,801	8,882	11,284	0	0	0
Maintenance fees
-	-	-	-	-	-	-	-	-	-	-	-	14,136	13,985	13,733	13,310	13,059	12,649	12,588	12,196	11,337	10,771	10,362	10,034	10,011	10,087	9,885	9,550	9,083	8,418	7,875	7,866	7,881	7,953	7,855	7,488	0	0	0
Services
-	-	-	-	-	-	-	-	-	-	-	-	24,394	25,884	28,839	30,037	32,664	31,528	27,332	24,827	21,345	17,563	16,159	15,230	12,594	14,681	16,343	18,807	21,918	22,408	21,207	18,538	17,337	16,799	17,635	17,774	0	0	0
License fees - related party
-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Maintenance fees - related party
-	-	-	-	-	-	-	-	-	-	-	-	381	357	338	365	376	392	414	395	381	0	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Services - related party
-	-	-	-	-	-	-	-	-	-	-	-	9,444	10,039	10,845	10,867	9,775	9,034	7,942	7,299	6,423	6,057	5,771	5,193	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Total net revenues
-	-	-	-	-	-	-	-	-	-	61,108	65,366	69,964	67,988	68,823	64,550	60,865	57,965	53,624	51,048	45,200	41,489	37,691	36,384	41,201	44,444	47,698	49,849	49,816	47,820	44,618	39,775	32,337	32,554	34,373	36,547	0	0	0
Cost of revenues:
Salaries and consultants
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Travel
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Salaries and consultants
-	18,816	18,687	-	-	20,547	21,412	21,856	22,855	23,598	24,216	24,645	24,206	23,737	22,682	21,789	22,166	21,370	20,743	19,859	18,405	17,616	16,478	15,621	12,527	11,375	11,131	11,256	12,079	11,866	11,238	10,236	9,566	9,273	9,113	8,716	0	0	0
Travel
-	6,585	6,718	-	-	3,832	2,414	1,775	2,050	2,390	2,938	3,137	2,867	2,646	2,564	2,334	2,381	2,598	2,434	2,374	2,387	1,981	1,738	1,705	1,565	1,698	1,737	1,673	1,560	1,444	1,312	1,273	1,249	1,114	1,098	1,044	0	0	0
Depreciation and amortization
3,025	3,162	3,307	3,525	3,834	4,087	4,375	4,610	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repairs and maintenance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	432	454	427	373	380	349	324	307	0	0	0
Insurance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	156	147	145	138	131	131	126	0	0	0
Depreciation and amortization
-	-	-	-	-	-	-	-	-	-	-	-	5,497	5,640	5,783	5,926	7,241	7,670	8,009	8,336	8,841	8,400	7,719	6,844	4,289	3,730	3,634	3,666	3,990	3,908	3,697	3,528	3,390	3,399	3,266	3,108	0	0	0
Other
-	3,856	3,962	-	-	3,793	3,672	3,481	3,679	3,485	3,611	3,727	3,600	3,774	3,731	3,698	3,712	3,644	3,284	3,020	2,997	3,190	3,534	3,548	3,685	3,920	3,471	3,704	3,664	3,263	3,127	2,721	2,252	1,846	1,774	1,500	0	0	0
Total cost of revenues
31,359	32,420	32,676	33,373	32,979	32,260	31,874	31,723	33,512	34,614	36,056	36,958	36,172	35,799	34,762	33,748	35,501	35,283	34,471	33,591	32,632	31,188	29,471	27,720	21,569	20,361	19,808	20,301	21,923	21,128	19,950	18,278	16,978	16,115	15,708	14,804	0	0	0
Gross profit
28,726	31,261	32,318	34,445	34,167	34,803	32,633	29,206	25,278	25,081	25,051	28,407	41,791	40,189	34,061	30,801	17,363	14,682	19,152	17,457	12,568	10,301	8,219	8,664	19,632	24,083	27,890	29,547	27,892	26,692	24,668	21,497	15,358	16,438	18,665	21,743	0	0	0
Operating expenses:
Selling and marketing
7,406	7,684	7,874	7,831	7,629	7,726	7,610	7,620	7,854	8,332	9,113	9,746	9,723	9,180	8,469	7,823	7,270	7,086	6,658	6,092	5,958	5,330	4,649	4,572	3,997	3,642	3,679	3,387	3,282	3,389	3,193	3,130	3,239	2,964	3,232	3,016	0	0	0
Depreciation and amortization
863	909	887	897	921	900	929	962	989	1,042	1,091	1,114	1,152	1,188	1,203	1,225	1,335	1,564	1,717	2,006	2,104	2,047	2,040	1,886	1,793	1,737	1,640	1,555	1,343	1,308	1,264	1,113	1,215	1,126	1,105	1,180	0	0	0
Provision for bad debts
-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	367	0	0	0
Salaries and wages
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,856	4,579	4,538	4,191	3,792	3,649	3,234	3,347	0	0	0
Professional services, including non-cash compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,012	993	912	939	853	806	0	0	0
Lease abandonment charges
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-
General and administrative
17,313	16,995	16,428	16,916	17,094	17,309	17,333	16,714	15,728	16,010	15,915	16,747	16,897	16,376	15,980	14,727	13,334	13,523	13,898	14,208	16,741	16,229	15,315	15,046	16,973	14,702	13,053	10,994	5,374	5,218	4,942	4,679	4,097	3,871	3,672	3,719	0	0	0
Research and development cost
2,295	2,355	2,326	1,971	1,537	1,221	987	853	680	583	485	393	409	440	466	485	446	398	360	314	301	282	257	249	224	192	0	-	0	0	-	-	-	-	-	-	-	-	-
Total operating expenses
27,879	27,945	27,517	27,617	27,182	27,157	26,860	26,152	26,659	27,375	28,013	29,409	28,421	27,424	26,357	24,499	22,386	22,573	22,635	22,622	25,106	23,889	22,262	21,754	19,173	17,801	17,230	16,096	15,618	15,395	15,075	14,232	13,369	11,805	11,352	11,578	0	0	0
Income (loss) from operations
847	3,316	4,801	6,827	6,985	7,645	5,772	3,054	-1,380	-2,293	-2,961	-1,001	5,369	4,764	7,703	6,301	2,976	109	-3,482	-5,165	-12,538	-13,588	-14,042	-13,089	-2,287	0	0	-	0	-	-	-	-	-	-	-	-	-	-
Other income and (expenses)
Gain (loss) on sale of assets
16	32	28	81	48	72	67	7	27	-11	-34	-30	-33	-20	9	23	33	25	-41	-64	-75	-256	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense
324	300	276	311	325	357	403	422	463	421	373	310	245	240	250	264	197	186	162	166	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income
1,557	1,310	1,105	955	877	819	704	592	493	378	286	179	125	128	140	161	187	254	325	331	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on sale of assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-24	3	14	-1	-3	-18	-12	-9	-8	-21	0	0	0
Interest expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	246	353	440	663	833	885	864	823	686	666	799	863	0	0	0
Interest income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	194	185	157	97	73	82	78	100	103	154	0	0	0
Gain (loss) on foreign currency exchange transactions
3,822	2,099	4,574	6,345	2,300	4,803	4,004	5,010	6,257	4,097	1,738	306	-1,148	-1,526	-1,039	-738	-99	-360	-646	-453	-838	-1,498	-981	50	668	1,675	2,083	1,367	942	1,265	920	404	678	481	-79	1,115	0	0	0
Share of net loss from equity investment
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Share of net loss from equity investment
-	-597	-731	-	-	-589	-494	-262	-534	-270	-67	0	0	0	0	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Share of net income (loss) from equity investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-300	-562	-500	-572	-542	0	0	0
Amortization of financing costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	635	0	0	0	-	-	-	-	-	-	-	-
Beneficial conversion feature
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-188	-241	-298	-453	0	0	0
Other income
-	-	-	-	-	-	-	-	38	37	29	50	0	0	0	-	-	-	-	-	-	-	-	-	-	-	158	148	152	292	283	275	132	-11	-4	-52	0	0	0
Other income
249	235	31	18	0	0	0	-	-	-	-	-	-	-	-	224	258	840	737	684	-389	-1,002	-1,020	50	1,520	1,418	2,185	887	182	513	-315	-559	-238	-525	-1,336	-341	0	0	0
Total other income (expenses)
4,891	2,779	4,733	6,247	2,369	4,784	3,924	4,968	5,818	3,810	1,578	196	-1,224	-1,557	-924	-592	159	550	189	330	-954	-1,680	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income before income taxes
5,738	6,095	9,534	13,075	9,354	12,430	9,697	8,023	4,437	1,516	-1,383	-804	4,144	3,207	6,779	5,709	3,135	659	-3,293	-4,835	-12,901	-15,380	-15,728	-13,758	663	7,393	12,844	14,339	12,456	11,810	9,276	6,704	1,751	4,107	5,976	9,823	0	0	0
Income tax provision
1,347	1,404	1,059	1,057	1,163	1,149	1,085	873	978	778	916	931	638	682	617	652	633	634	448	413	434	425	367	338	582	494	462	465	12	35	44	55	159	140	136	120	0	0	0
Net loss from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-14,096	-2,792	0	0	-	0	-	-	-	-	-	-	-	-	-	-
Income from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,158	-5,107	-7,082	-3,248	-1,785	8,924	11,774	9,232	6,649	1,592	3,967	5,840	9,702	0	0	0
Loss from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	-	-	-	-547	1,086	2,702	5,728	0	0	0
Net income (loss)
4,390	4,691	8,475	12,017	8,191	11,281	8,612	7,149	3,459	737	-2,300	-1,736	3,506	2,524	6,162	5,057	2,502	24	-3,741	-5,249	-13,310	-14,300	-14,735	-12,937	-2,152	0	0	-	0	-	-	-	-	-	-	-	-	-	-
Non-controlling interest
1,134	1,167	2,682	3,434	1,928	3,421	2,973	2,843	3,453	2,896	2,660	3,241	3,271	2,140	2,407	1,654	1,896	1,904	707	299	-1,136	-2,463	-2,638	-1,581	798	2,779	4,558	4,224	5,333	5,036	4,397	4,202	2,140	2,881	3,137	3,974	0	0	0
Net income (loss) attributable to NetSol
3,256	3,523	5,792	8,583	6,263	7,860	5,638	4,306	5	-2,158	-4,961	-4,978	234	384	3,754	3,402	606	-1,879	-4,448	-5,548	-12,173	-11,837	-12,096	-11,356	-875	1,987	5,836	7,863	6,616	6,737	4,834	2,446	-547	1,086	2,702	5,728	0	0	0
Translation adjustment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-5,458	-5,103	-5,308	-2,550	-2,159	-204	293	0	0	0
Comprehensive income (loss)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,279	-269	-2,862	1,500	0	0	-	0	-	-
Comprehensive income (loss)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0
Comprehensive loss attributable to non-controlling interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,531	-1,569	-1,754	-1,141	-895	-326	-116	0	0	0
Comprehensive income (loss) attributable to NetSol
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,810	1,300	-1,107	-1,956	-177	2,824	6,137	0	0	0
Basic
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.81	-0.31	-0.16	-0.10	-	0.25	-	-	-	-	-	-	-	-	-	-
Diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.81	-0.31	-0.16	-0.10	-	0.24	-	-	-	-	-	-	-	-	-	-
Basic
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.01	0.16	-0.02	-0.02	-	-0.06	-	-	-	-	-	-	-	-	-	-
Diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.01	0.16	-0.02	-0.02	-	-0.06	-	-	-	-	-	-	-	-	-	-
Loss from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-12,514	-1,987	2,850	7,251	9,648	11,188	11,296	9,592	7,264	1,989	4,632	7,312	10,164	0	0	0
Income from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,158	-5,107	-7,082	-3,248	-1,785	8,924	11,774	9,232	6,649	1,592	3,967	5,840	9,702	0	0	0
Net loss
3,256	3,523	5,792	8,583	6,263	7,860	5,638	4,306	5	-2,158	-4,961	-4,978	0	0	0	-	-	-	-	-	-	-	-	-11,356	-875	1,987	5,836	7,863	6,616	6,737	4,834	2,446	-547	1,086	2,702	5,728	0	0	0
Net income (loss) per common share - Basic
0.09	0.05	-0.16	0.30	0.11	0.25	0.08	0.09	0.26	0.06	-0.03	-0.28	0.06	-0.20	-0.04	0.20	0.08	0.12	-0.07	-0.06	-0.17	-0.14	-0.20	-0.81	-0.14	-0.18	-0.12	0.37	0.19	0.28	0.12	0.32	0.27	0.06	-0.26	1.04	0.06	0.04	0.04
Net income (loss) per common share - Diluted
0.09	0.05	-0.16	0.30	0.11	0.25	0.08	0.10	0.25	0.06	-0.03	-0.28	0.06	-0.20	-0.04	0.20	0.08	0.11	-0.07	-0.06	-0.17	-0.14	-0.20	-0.81	-0.14	-0.18	-0.12	0.36	0.19	0.28	0.12	0.32	0.27	0.06	-0.26	1.02	0.06	0.04	0.04
Weighted average number of shares outstanding
Basic
11,753	11,724	11,664	11,651	11,656	11,586	11,502	11,341	11,190	11,159	11,099	11,087	10,987	10,877	10,697	10,547	10,427	10,308	10,281	10,130	9,914	9,654	9,213	9,148	9,092	9,056	8,956	8,911	8,344	7,957	7,591	7,481	6,135	5,665	5,588	-119,756	51,263	48,366	39,544
Diluted
11,753	11,724	11,664	11,696	11,691	11,592	11,507	11,249	11,268	11,171	11,099	10,952	11,121	10,877	10,697	10,865	10,643	10,548	10,281	10,130	9,914	9,654	9,213	9,148	9,092	9,056	8,956	9,179	8,408	7,968	7,599	7,485	6,176	5,726	5,588	-126,963	52,480	51,058	43,251
License Fees [Member]
Total net revenues
6,833	9,058	13,491	16,768	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total net revenues
-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Maintenance Fees [Member]
Total net revenues
18,195	16,966	15,661	15,010	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total net revenues
-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Services [Member]
Total net revenues
33,561	36,068	34,134	34,185	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total net revenues
-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
License Fees - Related Party [Member]
Total net revenues
-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Maintenance Fees - Related Party [Member]
Total net revenues
-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Services - Related Party [Member]
Total net revenues
983	1,078	1,195	1,343	0	0	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-