Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.8.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Mar. 31, 2018
Mar. 31, 2017
Net Revenues:        
License fees $ 2,648,870 $ 5,730,222 $ 3,210,868 $ 14,953,574
Maintenance fees 3,659,998 3,538,996 10,702,171 10,651,692
Services 9,345,210 6,669,309 25,450,138 18,844,602
License fees - related party 261,513 246,957
Maintenance fees - related party 105,325 51,698 309,539 233,674
Services - related party 1,284,417 1,959,095 4,374,802 5,954,076
Total net revenues 17,043,820 17,949,320 44,309,031 50,884,575
Cost of revenues:        
Salaries and consultants 5,418,067 6,161,110 16,244,319 18,034,263
Travel 425,060 764,867 1,226,073 2,313,002
Depreciation and amortization 1,127,077 1,340,188 3,468,293 3,989,824
Other 880,897 686,950 2,677,465 2,725,015
Total cost of revenues 7,851,101 8,953,115 23,616,150 27,062,104
Gross profit 9,192,719 8,996,205 20,692,881 23,822,471
Operating expenses:        
Selling and marketing 1,962,402 2,439,948 5,605,838 7,497,464
Depreciation and amortization 231,308 284,642 699,966 825,224
General and administrative 4,048,271 4,329,798 11,862,535 12,882,407
Research and development cost 197,643 101,193 572,619 285,732
Total operating expenses 6,439,624 7,155,581 18,740,958 21,490,827
Income from operations 2,753,095 1,840,624 1,951,923 2,331,644
Other income and (expenses)        
Gain (loss) on sale of assets 40,537 1,647 24,468 (33,095)
Interest expense (102,522) (60,357) (330,268) (176,959)
Interest income 142,356 27,229 394,837 81,085
Gain (loss) on foreign currency exchange transactions 2,550,394 390,897 5,304,723 (645,886)
Share of net loss from equity investment (263,678) (534,576)
Other income (expense) 314 (219) 15,924 28,164
Total other income (expenses) 2,367,401 359,197 4,875,108 (746,691)
Net income before  income taxes 5,120,496 2,199,821 6,827,031 1,584,953
Income tax provision (261,182) (61,604) (486,980) (440,363)
Net income 4,859,314 2,138,217 6,340,051 1,144,590
Non-controlling interest (1,994,869) (1,438,249) (3,210,683) (2,999,127)
Net income (loss) attributable to NetSol $ 2,864,445 $ 699,968 $ 3,129,368 $ (1,854,537)
Net income (loss) per share:        
Net income (loss) per common share - Basic $ 0.26 $ 0.06 $ 0.28 $ (0.17)
Net income (loss) per common share - Diluted $ 0.25 $ 0.06 $ 0.28 $ (0.17)
Weighted average number of shares outstanding        
Basic 11,190,048 10,987,214 11,118,529 10,850,538
Diluted 11,268,842 11,121,620 11,152,365 10,850,538