Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v2.4.0.6
Condensed Consolidated Statements of Operations (Unaudited) (USD $)
 3 Months Ended 6 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2012
Dec. 31, 2011
Net Revenues:        
License fees $ 3,505,847 $ 2,047,855 $ 6,747,348 $ 3,123,705
Maintenance fees 2,664,813 2,121,282 4,710,519 4,158,488
Services 5,637,009 4,436,915 11,421,702 7,552,567
Total net revenues 11,807,669 8,606,052 22,879,569 14,834,760
Cost of revenues:        
Salaries and consultants 2,948,533 2,287,803 6,334,201 4,671,214
Travel 386,194 254,169 711,488 539,841
Repairs and maintenance 123,722 96,723 251,719 170,917
Insurance 41,007 31,348 78,726 67,216
Depreciation and amortization 1,024,007 812,510 1,982,158 1,601,615
Other 558,777 421,416 1,480,635 937,825
Total cost of revenues 5,082,240 3,903,969 10,838,927 7,988,628
Gross profit 6,725,429 4,702,083 12,040,642 6,846,132
Operating expenses:        
Selling and marketing 931,210 735,132 1,694,173 1,435,413
Depreciation and amortization 333,435 289,030 675,436 480,704
Bad debt expense 54,889   54,889 192,250
Salaries and wages 1,192,787 1,152,023 2,346,660 1,958,587
Professional services, including non-cash compensation 156,668 236,911 363,170 423,660
General and administrative 1,136,792 1,072,483 2,484,720 1,965,455
Total operating expenses 3,805,781 3,485,579 7,619,048 6,456,069
Income from operations 2,919,648 1,216,504 4,421,594 390,063
Other income and (expenses)        
(Loss) gain on sale of assets (275) (1,633) 14,021 (3,274)
Interest expense (179,932) (158,957) (472,321) (419,164)
Interest income 31,617 7,264 55,784 40,069
Gain on foreign currency exchange transactions 504,738 160,125 899,894 39,219
Share of net income (loss) from equity investment 484,487   484,487 (100,000)
Beneficial conversion feature (74,384) (61,441) (442,128) (74,247)
Other income (expense) 36 (8,987) 4 (16,706)
Total other income (expenses) 766,287 (63,629) 539,741 (534,103)
Net income (loss) before income taxes 3,685,935 1,152,875 4,961,335 (144,040)
Income taxes 2,548 (7,005) (11,448) (31,539)
Net income (loss) after tax 3,688,483 1,145,870 4,949,887 (175,579)
Non-controlling interest (1,465,500) (826,303) (1,797,779) (963,561)
Net income (loss) attributable to NetSol 2,222,983 319,567 3,152,108 (1,139,140)
Other comprehensive income (loss):        
Translation adjustment (1,394,216) (1,039,343) (2,163,011) (2,013,541)
Comprehensive income (loss) 828,767 (719,776) 989,097 (3,152,681)
Comprehensive loss attributable to non controlling interest (399,096) (437,533) (631,652) (854,892)
Comprehensive income (loss) attributable to NetSol 1,227,863 (282,243) 1,620,749 (2,297,789)
Net income (loss) per share:        
Basic (in Dollars per share) $ 0.28 $ 0.06 $ 0.41 $ (0.20)
Diluted (in Dollars per share) $ 0.28 $ 0.06 $ 0.40 $ (0.20)
Weighted average number of shares outstanding        
Basic (in Shares) 7,957,521 5,665,562 7,774,719 5,626,944
Diluted (in Shares) 7,968,598 5,726,155 7,785,796 5,626,944
Amounts attributable to NetSol common shareholders        
Net income / (loss) $ 2,222,983 $ 319,567 $ 3,152,108 $ (1,139,140)