Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.10.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Net Revenues:        
Total net revenues $ 17,002,627 $ 14,446,435 $ 33,399,172 $ 27,265,211
Cost of revenues:        
Salaries and consultants 4,497,054 5,362,092 9,517,616 10,826,252
Travel 1,706,182 287,901 2,858,179 801,013
Depreciation and amortization 880,048 1,168,103 1,817,652 2,341,216
Other 1,060,772 939,986 2,109,096 1,796,568
Total cost of revenues 8,144,056 7,758,082 16,302,543 15,765,049
Gross profit 8,858,571 6,688,353 17,096,629 11,500,162
Operating expenses:        
Selling and marketing 2,048,303 1,932,140 3,749,629 3,643,436
Depreciation and amortization 193,779 222,785 406,011 468,658
General and administrative 4,002,059 4,026,706 8,408,779 7,814,264
Research and development cost 424,652 189,891 742,807 374,976
Total operating expenses 6,668,793 6,371,522 13,307,226 12,301,334
Income (loss) from operations 2,189,778 316,831 3,789,403 (801,172)
Other income and (expenses)        
Gain (loss) on sale of assets (3,504) (8,939) 48,790 (16,069)
Interest expense (63,804) (109,675) (163,238) (227,746)
Interest income 230,421 115,570 479,385 252,481
Gain on foreign currency exchange transactions 2,536,755 1,737,967 2,547,667 2,754,329
Share of net loss from equity investment (298,293) (203,336) (597,984) (270,898)
Other income 4,503 14,511 9,882 15,610
Total other income (expenses) 2,406,078 1,546,098 2,324,502 2,507,707
Net income before income taxes 4,595,856 1,862,929 6,113,905 1,706,535
Income tax provision (264,872) (200,927) (501,786) (225,798)
Net income 4,330,984 1,662,002 5,612,119 1,480,737
Non-controlling interest (1,475,355) (1,027,581) (1,793,901) (1,215,814)
Net income attributable to NetSol $ 2,855,629 $ 634,421 $ 3,818,218 $ 264,923
Net income (loss) per share:        
Net income (loss) per common share Basic $ 0.25 $ 0.06 $ 0.33 $ 0.02
Net income (loss) per common share Diluted $ 0.25 $ 0.06 $ 0.33 $ 0.02
Weighted average number of shares outstanding        
Basic 11,586,507 11,159,075 11,542,877 11,115,346
Diluted 11,592,193 11,171,543 11,548,563 11,127,814
License Fees [Member]        
Net Revenues:        
Total net revenues $ 4,817,569 $ 235,932 $ 10,773,682 $ 561,998
Maintenance Fees [Member]        
Net Revenues:        
Total net revenues 3,534,693 3,568,448 7,173,020 7,042,173
Services [Member]        
Net Revenues:        
Total net revenues 8,237,334 9,087,191 14,655,968 16,104,928
License Fees - Related Party [Member]        
Net Revenues:        
Total net revenues 217,105 261,513
Maintenance Fees - Related Party [Member]        
Net Revenues:        
Total net revenues 127,030 101,251 228,379 204,214
Services - Related Party [Member]        
Net Revenues:        
Total net revenues $ 286,001 $ 1,236,508 $ 568,123 $ 3,090,385