Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.20.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2020
Mar. 31, 2019
Net Revenues:        
Total net revenues $ 13,530,837 $ 17,127,055 $ 42,793,272 $ 50,526,227
Cost of revenues:        
Salaries and consultants 4,850,438 4,833,611 13,931,274 14,351,227
Travel 1,052,033 1,793,964 3,967,591 4,652,143
Depreciation and amortization 737,637 874,654 2,191,654 2,692,306
Other 868,491 1,067,506 2,767,927 3,176,602
Total cost of revenues 7,508,599 8,569,735 22,858,446 24,872,278
Gross profit 6,022,238 8,557,320 19,934,826 25,653,949
Operating expenses:        
Selling and marketing 1,587,821 1,864,990 5,189,785 5,614,619
Depreciation and amortization 206,035 252,442 623,901 658,453
General and administrative 4,151,394 3,833,209 12,638,797 12,241,988
Research and development cost 453,050 513,770 1,580,625 1,256,577
Total operating expenses 6,398,300 6,464,411 20,033,108 19,771,637
Income (loss) from operations (376,062) 2,092,909 (98,282) 5,882,312
Other income and (expenses)        
Gain (loss) on sale of assets 129 16,380 368 65,170
Interest expense (94,395) (70,447) (246,064) (233,685)
Interest income 448,368 201,084 1,283,279 680,469
Gain (loss) on foreign currency exchange transactions 1,770,894 47,218 71,765 2,594,885
Share of net loss from equity investment (78,502) (245,389) (432,522) (843,373)
Other income 17,012 3,116 243,325 12,998
Total other income (expenses) 2,063,506 (48,038) 920,151 2,276,464
Net income before income taxes 1,687,444 2,044,871 821,869 8,158,776
Income tax provision (218,351) (275,476) (1,067,099) (777,262)
Net income (loss) 1,469,093 1,769,395 (245,230) 7,381,514
Non-controlling interest (468,286) (501,835) 4,065 (2,295,736)
Net income (loss) attributable to NetSol $ 1,000,807 $ 1,267,560 $ (241,165) $ 5,085,778
Net income (loss) per share:        
Net income (loss) per common share - Basic $ 0.09 $ 0.11 $ (0.02) $ 0.44
Net income (loss) per common share - Diluted $ 0.09 $ 0.11 $ (0.02) $ 0.44
Weighted average number of shares outstanding        
Basic 11,753,063 11,656,098 11,713,827 11,580,066
Diluted 11,753,063 11,691,342 11,713,827 11,615,310
License Fees [Member]        
Net Revenues:        
Total net revenues $ 312,133 $ 2,536,320 $ 3,375,241 $ 13,310,002
Maintenance Fees [Member]        
Net Revenues:        
Total net revenues 4,934,635 3,704,756 14,291,959 11,106,155
Services [Member]        
Net Revenues:        
Total net revenues 8,222,227 10,728,983 24,923,873 25,548,451
Services - Related Party [Member]        
Net Revenues:        
Total net revenues $ 61,842 $ 156,996 $ 202,199 $ 561,619