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 6 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2017
Dec. 31, 2016
Net Revenues:        
License fees $ 235,932 $ 3,769,557 $ 561,998 $ 9,223,352
Maintenance fees 3,568,448 3,588,899 7,042,173 7,112,696
Services 9,087,191 6,619,158 16,104,928 12,175,293
License fees - related party 217,105 261,513 246,957
Maintenance fees - related party 101,251 51,345 204,214 181,976
Services - related party 1,236,508 1,829,827 3,090,385 3,994,981
Total net revenues 14,446,435 15,858,786 27,265,211 32,935,255
Cost of revenues:        
Salaries and consultants 5,362,092 5,979,804 10,826,252 11,873,153
Travel 287,901 836,240 801,013 1,548,135
Depreciation and amortization 1,168,103 1,318,764 2,341,216 2,649,636
Other 939,986 1,065,727 1,796,568 2,038,065
Total cost of revenues 7,758,082 9,200,535 15,765,049 18,108,989
Gross profit 6,688,353 6,658,251 11,500,162 14,826,266
Operating expenses:        
Selling and marketing 1,932,140 2,713,478 3,643,436 5,057,516
Depreciation and amortization 222,785 271,485 468,658 540,582
Provision for bad debts 1,026 1,026
General and administrative 4,026,706 3,932,387 7,814,264 8,551,583
Research and development cost 189,891 91,607 374,976 184,539
Total operating expenses 6,371,522 7,009,983 12,301,334 14,335,246
Income from operations 316,831 (351,732) (801,172) 491,020
Other income and (expenses)        
Loss on sale of assets (8,939) (32,339) (16,069) (34,742)
Interest expense (109,675) (62,127) (227,746) (116,602)
Interest income 115,570 23,416 252,481 53,856
Gain (loss) on foreign currency exchange transactions 1,737,967 (621,887) 2,754,329 (1,036,783)
Share of net loss from equity investment (203,336) (270,898)
Other income 14,511 6,823 15,610 28,383
Total other income (expenses) 1,546,098 (686,114) 2,507,707 (1,105,888)
Net income (loss) before income taxes 1,862,929 (1,037,846) 1,706,535 (614,868)
Income tax provision (200,927) (338,884) (225,798) (378,759)
Net income (loss) 1,662,002 (1,376,730) 1,480,737 (993,627)
Non-controlling interest (1,027,581) (791,664) (1,215,814) (1,560,878)
Net income (loss) attributable to NetSol $ 634,421 $ (2,168,394) $ 264,923 $ (2,554,505)
Net income (loss) per share:        
Net income (loss) per common share - Basic $ 0.06 $ (0.20) $ 0.02 $ (0.24)
Net income (loss) per common share - Diluted $ 0.06 $ (0.20) $ 0.02 $ (0.24)
Weighted average number of shares outstanding        
Basic 11,159,075 10,877,446 11,115,346 10,783,685
Diluted 11,171,543 10,877,446 11,127,814 10,783,685