Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v2.4.0.8
Condensed Consolidated Statements of Operations (Unaudited) (USD $)
 3 Months Ended 6 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2013
Dec. 31, 2012
Net Revenues:        
License fees $ 455,616 $ 3,505,847 $ 2,708,183 $ 6,747,348
Maintenance fees 2,867,195 2,664,813 5,247,604 4,710,519
Services 5,385,191 5,637,009 9,809,351 11,421,702
Total net revenues 8,708,002 11,807,669 17,765,138 22,879,569
Cost of revenues:        
Salaries and consultants 3,247,811 2,916,378 6,647,642 6,276,243
Travel 349,318 386,194 746,102 711,488
Repairs and maintenance 147,464 123,722 323,285 251,719
Insurance 40,642 41,007 80,196 78,726
Depreciation and amortization 1,240,715 1,024,007 2,287,384 1,982,158
Other 886,799 557,693 1,429,041 1,478,671
Research and development cost 55,114 33,239 113,802 59,922
Total cost of revenues 5,967,863 5,082,240 11,627,452 10,838,927
Gross profit 2,740,139 6,725,429 6,137,686 12,040,642
Operating expenses:        
Selling and marketing 908,125 931,210 1,979,537 1,694,173
Depreciation and amortization 430,947 333,435 857,564 675,436
Salaries and wages 1,458,343 1,192,787 2,899,475 2,346,660
General and administrative 1,546,266 1,348,349 3,527,604 2,902,779
Total operating expenses 4,343,681 3,805,781 9,264,180 7,619,048
Income (loss) from operations (1,603,542) 2,919,648 (3,126,494) 4,421,594
Other income and (expenses)        
Gain (loss) on sale of assets (175,237) (275) (189,032) 14,021
Interest expense (45,036) (179,932) (114,253) (472,321)
Interest income 39,931 31,617 72,785 55,784
Gain on foreign currency exchange transactions 96,039 504,738 1,207,462 899,894
Share of net income (loss) from equity investment (175,840) 484,487 (166,648) 484,487
Amortization of financing costs   (74,384)   (442,128)
Other income (expense) (47,858) 36 (47,180) 4
Total other income (expenses) (308,001) 766,287 763,134 539,741
Net income (loss) before income taxes (1,911,543) 3,685,935 (2,363,360) 4,961,335
Income tax benefit (provision) (29,270) 2,548 (40,401) (11,448)
Net income (loss) after tax (1,940,813) 3,688,483 (2,403,761) 4,949,887
Non-controlling interest 313,905 (1,465,500) (320,262) (1,797,779)
Net income (loss) attributable to NetSol (1,626,908) 2,222,983 (2,724,023) 3,152,108
Other comprehensive income (loss):        
Translation adjustment (420,309) (1,394,216) (3,843,025) (2,163,011)
Comprehensive income (loss) (2,047,217) 828,767 (6,567,048) 989,097
Comprehensive loss attributable to non-controlling interest (40,980) (399,096) (1,261,514) (631,652)
Comprehensive income (loss) attributable to NetSol $ (2,006,237) $ 1,227,863 $ (5,305,534) $ 1,620,749
Net income (loss) per share:        
Basic (in Dollars per share) $ (0.18) $ 0.28 $ (0.30) $ 0.41
Diluted (in Dollars per share) $ (0.18) $ 0.28 $ (0.30) $ 0.40
Weighted average number of shares outstanding        
Basic (in Shares) 9,056,024 7,957,521 9,006,015 7,774,719
Diluted (in Shares) 9,056,024 7,968,598 9,006,015 7,785,796