Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.10.0.1
Consolidated Statements of Operations - USD ($)
 12 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Net Revenues:    
Total net revenues $ 60,930,258 $ 65,366,268
Cost of revenues:    
Salaries and consultants 21,856,162 24,645,223
Travel 1,775,327 3,137,671
Depreciation and amortization 4,610,737 5,448,059
Other 3,481,115 3,727,379
Total cost of revenues 31,723,341 36,958,332
Gross profit 29,206,917 28,407,936
Operating expenses:    
Selling and marketing 7,620,476 9,746,229
Depreciation and amortization 962,737 1,114,275
Provision for bad debts 460,730 1,407,751
General and administrative 16,254,067 16,747,550
Research and development cost 853,996 393,345
Total operating expenses 26,152,006 29,409,150
Income (loss) from operations 3,054,911 (1,001,214)
Other income and (expenses)    
Gain (loss) on sale of assets 7,594 (30,147)
Interest expense (422,327) (310,044)
Interest income 592,153 179,723
Gain on foreign currency exchange transactions 5,010,383 306,819
Share of net loss from equity investment (262,556)
Other income (expense) 42,847 50,378
Total other income (expenses) 4,968,094 196,729
Net income (loss) before income taxes 8,023,005 (804,485)
Income tax provision (873,027) (931,951)
Net income (loss) 7,149,978 (1,736,436)
Non-controlling interest (2,843,090) (3,241,594)
Net income (loss) attributable to NetSol $ 4,306,888 $ (4,978,030)
Net income (loss) per share:    
Net income (loss) per common share Basic $ 0.38 $ (0.46)
Net income (loss) per common share Diluted $ 0.38 $ (0.46)
Weighted average number of shares outstanding    
Basic 11,197,319 10,912,284
Diluted 11,197,319 10,912,284
License Fees [Member]    
Net Revenues:    
Total net revenues $ 6,598,254 $ 18,218,912
Maintenance Fees [Member]    
Net Revenues:    
Total net revenues 14,382,309 14,157,367
Services [Member]    
Net Revenues:    
Total net revenues 33,611,982 24,798,899
License Fees - Related Party [Member]    
Net Revenues:    
Total net revenues 261,513 246,957
Maintenance Fees - Related Party [Member]    
Net Revenues:    
Total net revenues 418,444 311,359
Services - Related Party [Member]    
Net Revenues:    
Total net revenues $ 5,657,756 $ 7,632,774