NetSol Soars on Earnings PreviewThursday, July 12, 2012
NetSol Technologies Inc. shares jumped 18 percent on Thursday after the business software company said it expects to report its strongest fiscal year ever.
The Calabasas company, which makes financial portfolio management systems for leasing, insurance, energy, and technology clients, said it anticipates revenue for the fiscal year ended June 30 will be in the range of $37 million to $38 million. Last year the company reported revenue of $36.5 million.
Netsol, which said it will report earnings early next month, expects net income per share of 3 to 4 cents for the year.
Shares closed up 8 cents, or 18 percent, to 53 cents on the Nasdaq. Trading volume on the usually thinly traded stock exceeded 3.9 million shares, compared with the typical 410,000 average.