Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.7.0.1
Consolidated Statements of Operations - USD ($)
 12 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Net Revenues:    
License fees $ 18,218,912 $ 8,352,441
Maintenance fees 14,157,367 13,310,591
Services 24,798,899 30,037,459
License fees - related party 246,957 1,616,138
Maintenance fees - related party 311,359 365,772
Services - related party 7,632,774 10,867,792
Total net revenues 65,366,268 64,550,193
Cost of revenues:    
Salaries and consultants 24,645,223 21,789,329
Travel 3,137,671 2,334,019
Depreciation and amortization 5,448,059 5,926,969
Other 3,727,379 3,698,290
Total cost of revenues 36,958,332 33,748,607
Gross profit 28,407,936 30,801,586
Operating expenses:    
Selling and marketing 9,746,229 7,823,916
Depreciation and amortization 1,114,275 1,225,170
Provision for bad debts 1,407,751 237,703
General and administrative 16,747,550 14,727,313
Research and development cost 393,345 485,783
Total operating expenses 29,409,150 24,499,885
Income (loss) from operations (1,001,214) 6,301,701
Other income and (expenses)    
Gain (loss) on sale of assets (30,147) 23,930
Interest expense (310,044) (264,511)
Interest income 179,723 161,794
Gain (loss) on foreign currency exchange transactions 306,819 (738,158)
Other income (expense) 50,378 224,931
Total other income (expenses) 196,729 (592,014)
Net income (loss) before income taxes (804,485) 5,709,687
Income tax provision (931,951) (652,546)
Net income (loss) (1,736,436) 5,057,141
Non-controlling interest (3,241,594) (1,654,380)
Net income (loss) attributable to NetSol $ (4,978,030) $ 3,402,761
Net income (loss) per share:    
Net income (loss) per common share - Basic $ (0.46) $ 0.33
Net income (loss) per common share - Diluted $ (0.46) $ 0.32
Weighted average number of shares outstanding    
Basic 10,912,284 10,391,157
Diluted 10,912,284 10,584,835