NetSol Technologies Announces Preliminary Revenue Results for Fiscal 2015
Fiscal 2015 Total Revenue Expected to Reach Record Levels of Approximately $49.5 Million to $50.5 Million
Expects Continued Strong Growth through Fiscal 2016; To Report 2015 Full Year Results in September
CALABASAS, Calif., July 30, 2015 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. (Nasdaq:NTWK), a global business services and enterprise application solutions provider, today announced that it expects revenue for the 2015 fiscal year ended June 30, 2015 to be approximately $49.5 million to $50.5 million, reflecting a return to record revenue levels.
"We are pleased with our results, highlighting the positive momentum we have built in the business for both our first generation and next-generation financing and leasing solutions," said Najeeb Ghauri, CEO of NetSol. "With much of our investment in infrastructure and staffing complete, we anticipate strong leverage in our business model as we move through fiscal 2016 and beyond.
"Based on the recognition schedule of contracts underway, and anticipated maintenance fees, we expect continued strong revenue growth and earnings expansion in the coming year," added Ghauri. "In addition, we remain in discussions with a number of prospective customers that have the potential to further propel our growth."
The company will report results for the fiscal 2015 fourth quarter and year in September.
About NetSol Technologies
NetSol Technologies, Inc. (Nasdaq:NTWK) is a worldwide provider of IT and enterprise software solutions primarily serving the global leasing and financing industry. The Company's suite of applications are backed by 40 years of domain expertise and supported by a committed team of more than 1000 professionals placed in eight strategically located support and delivery centers throughout the world.
Forward-Looking Statements
This press release may contain forward-looking statements relating to the development of the Company's products and services, including, but not limited to, anticipated business growth, investment in the business, and anticipated leverage in the Company's business model, that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The words "expects," "anticipates," variations of such words, and similar expressions, identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Factors that could affect the Company's actual results include the progress and costs of the development of products and services and the timing of the market acceptance. The subject Companies expressly disclaim any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based.
Investor Contacts:
PondelWilkinson
Matt Sheldon | investors@netsoltech.com
(310) 279-5980
Media Contacts:
PondelWilkinson
George Medici | gmedici@pondel.com
(310) 279-5968
Released July 30, 2015