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 NetSol Technologies Inc. - NTWK
NetSol Technologies, Inc., a worldwide provider of global business services and enterprise application solutions, leverages its BestShoring(TM) practices and highly experienced resources to deliver high-quality, cost-effective solutions. Their suite of products and services include credit and finance portfolio management systems, hospital/healthcare information management systems (HIMS), SAP consulting and services, custom development, systems integration, and technical services.
NetSol’s commitment to quality is demonstrated by its achievement of the ISO 9001, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a distinction shared by less than 100 companies worldwide. These distinctions are a result of adhering to rigorous quality standards, resulting in the delivery of solutions that are secure, reliable, properly planned, and meticulously executed.
Serving the global financial, healthcare, insurance, energy, and technology markets, NetSol has operations, offices, and joint ventures in Adelaide, Bangkok, Beijing, Dubai, Lahore, London, Riyadh, San Francisco, and San Pedro Sula. NetSol Technologies’ clients include Fortune 500 manufacturers, global automakers, financial institutions, utilities, technology providers, and government agencies.
Netsol is well positioned with its core product offerings as it continues to expand into new international market opportunities. Looking forward, the company is very optimistic of its short-term and long-term outlook as it sees strong growth in Asia Pacific as well as the South East Asian markets, while also envisioning unlimited potential for its niche solutions and services in the Americas.
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NetSol Technologies, Inc.’s (NTWK) Undiscovered Success and Exceptional Growth Potential
NetSol Technologies, Inc., an enterprise software and business services provider with a footprint spanning the global marketplace, has operations in such diverse locations as Beijing, Bangkok, London, Lahore, Adelaide, Riyadh, San Pedro Sula and San Francisco. This broad physical base of operations enhances and affirms NetSol’s philosophy of seamless integration, best exemplified by their core BestShoring™ methodology, which is designed to eliminate the risks associated with outsourcing.
NetSol thrives on specialized solutions that are engineered to the client’s specific industry, from hospital/healthcare information management systems (HIMS) and SAP consulting and services, to credit and finance portfolio management systems, including systems integration and technical services. NetSol is a leading provider of SAP solutions and is committed to the idea that comprehensive project management is the key to delivering SAP projects in a time- and cost-effective manner.
The future looks bright for NetSol, with both Maxim Group and Rodman & Renshaw showing upbeat analysis of the Company’s fundamentals. NetSol Q1 FY 10 revenue was $7.6mm, showing 11% sequential growth from Q4 FY 2009 figures, driven largely by licensing fees (up 99% sequentially to $2.6mm), with revenue beating out expectations and showing quarter-to-quarter growth in what is typically a seasonally weak quarter.
With gross margins up 53.3%, and an estimate by Maxim Group that margins will continue to rise, NetSol is well positioned to achieve management’s intentions of growing revenue. In fact, the Company has already managed to sign 80% of last year’s revenue in the first fiscal quarter of this year, a very promising sign when considered alongside a historical compounded annual growth rate of 58% (up until 2008 when the global economic crisis began).
Recent awarding of a $2M software and IT services contract, which will utilize NetSol’s NFS suite, from one of China’s leading automotive finance companies is a strong indicator of the Company’s expansion into Asian markets. Due to the explosive growth potential of the Chinese automotive finance sector, NetSol has redoubled its efforts to expand its foothold in the market and support existing business in China, which has proven to be a real asset in terms of revenue generation.
NetSol’s Defense Division (NDD), a business unit of NetSol, recently announced plans to team with a top-five U.S. defense contractor to satisfy a request by the Pakistan Ministry of Defense. The contract bid is for upwards of 5 years and is estimated to be worth in excess of $350M. This contract will build on the existing relationship between NDD and the Pakistan Military, and will help to meet the growing demand for automation and modernization of Pakistan’s defense sector.
NetSol has also recently announced the planned expansion of a wholly-owned Chinese subsidiary from its Beijing operating center. In order to capitalize on its leading market position in the Chinese captive asset finance software space, and the booming Chinese economy (which has seen a decade of double-digit increases in disposable income), NetSol will attempt to grow its China-specific revenue to 25% of total revenue by FY 2010.
Having recently acquired its ninth major Chinese customer, NetSol is ready to put its plan for Chinese expansion into place with the new Chinese Delivery Center, and will offer additional services from its portfolio to the local market to supplement its NFS software solutions. With plans to complete the comprehensive compliance process and establish the subsidiary within the current fiscal year, NetSol aims to make even bigger waves in China while continuing to support its existing clients via the Beijing office.
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NetSol Technologies, Inc. (NTWK) Led by a Superb Management Team
NetSol Technologies Inc. is a worldwide provider of global business services and enterprise application solutions, leveraging its BestShoring practices and highly experienced resources to deliver high-quality, cost-effective solutions. The company has operations all around the globe and its clients include Fortune 500 manufacturers, global auto makers, financial institutions, utilities, technology providers and government agencies.
The company is led by a highly-skilled management team. Some of the members of the company’s management team include:
Najeeb Ghauri – Chairman and CEO
Mr. Ghauri was responsible for restructuring NetSol’s business model into that of an IT company. He has oversaw the growth of the company from five people to almost 1000 people and the growth in revenues from $100,000 in 1998 to $37 million in 2008. Today, NetSol has nearly 200 customers worldwide and offices in six countries. Mr. Ghauri has been nominated twice in the United States for the Ernst & Young ‘Entrepreneur of the Year’, in 2001 and again in 2008.
Mr. Ghauri was instrumental in the completion of the company’s IPO in 1998 and spearheading the listing of the company on the Nasdaq in 1999. At the time of its IPO, NetSol was the first IT company originated from Pakistan to be listed on the Nasdaq. The company is also listed on the Dubai Stock Exchange and its Pakistani subsidiary is listed on the Karachi Stock Exchange in Pakistan.
Prior to launching NetSol in the United States, Mr. Ghauri had over 15 years of combined marketing and management experience with Fortune 500 companies such as Unilever and ARCO.
Boo-Ali Siddiqui – CFO
As CFO and company secretary of Netsol Technologies, Mr. Siddiqui has managed the finances of all companies in the Asia group since 2005. Prior to this, he served as Deputy Registrar of Companies for the Securities & Exchange Commission of Pakistan and as senior manager, audit & tax, for the chartered accountants, Ehtisham & Co.
Naeem Ghauri – President and Head of Global Sales
At NetSol Technologies, Mr. Ghauri is responsible for all business development, mergers & acquisitions, account management and sales activities worldwide. Prior to heading the global sales organization, he served as president of NetSol’s European region and global products. Mr. Ghauri brings a wealth of IT experience in the finance industries and management experience in international markets. He was a senior IT consultant with various blue-chip companies in Europe and worked for major financial firms such as Citibank and Fidelity Investments.
Patti L. W. McGlasson – Company Secretary and Corporate Counsel
Ms. McGlasson joined NetSol as corporate counsel in January 2004 and was elected to the position of secretary in March 2004. Prior to joining NetSol, she practiced law at Vogt & Resnick, where she focused on corporate, securities and business transactions.
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NetSol Technologies, Inc. (NTWK) Provides Financial Guidance for Fiscal Year 2010
NetSol Technologies, Inc., a global U.S. corporation providing global business services and enterprise application solutions, announced today before the opening bell its improved financial guidance expectations for the full year fiscal 2010 period ending June 30, 2010.
Based on current business activities, and preliminary unaudited results, the company forecasts:
– Revenues of between $33.0 million and $35.0 million, representing full year revenue growth of between 25% and 32% versus fiscal year 2009.
– A return to GAAP net income, versus a GAAP net loss of $0.30 per diluted share for fiscal year 2009.
– License revenues to increase more than 100% versus fiscal year 2009.
– Increased sales and pipeline activity driving improved financial performance, including rising demand for NetSol Financial Suite(TM) (NFS), particularly in key markets such as China and North America.
– Improved gross and net margins as a result of cost efficiency measures and corporate restructuring activities completed in recent quarters.
Najeeb Ghauri, NetSol Technologies chairman and chief executive officer, stated, “We are pleased to report our fiscal year 2010 expectations for a significant double-digit improvement in annual revenue growth and most importantly a return to GAAP profitability as demand for our core NetSol Financial Suite(TM) (NFS) financial enterprise software business continues to improve. Renewed strength in our licensing sales reflects the ramping of new purchasing decisions among existing as well as new customers, with particular strength coming from the Asia Pacific region, especially China. Rising sales, combined with our streamlined operating structure, are creating excellent leverage which is reflected in our new projections for GAAP net income. With a return to profitability in sight, we believe NetSol is extremely well positioned to gain market share and unlock the value we see in our premier global software and IT business platform.”
As usual, the fiscal second quarter 2010 reporting date as well as investor conference call and web cast details will be announced in advance via a public press release.
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NetSol Technologies, Inc. (NTWK) Awarded Major Information Security Contract
NetSol Technologies, Inc. announced this morning at the opening bell that it has been awarded a major contract in the area of Information Security by a leading mobile telecommunications company in Pakistan. Along with additional revenues, this contract further strengthens NetSol’s position as a leader in the information security services sector in Pakistan.
Needing a highly scalable and high performance solution, the client selected NetSol after a meticulous selection amongst competitive vendors. According to the press release, the client chose NetSol because of its strong information security practices, technical expertise and proven track record in deploying large scale information security solutions for information sensitive organizations.
NetSol offers a cutting-edge and high performance scalable solution that helps clients protect their data centers against security threats coming from the Internet or Intranet. The solution provides impressive security effectiveness, comprehensive coverage for the critical vulnerabilities, and extremely strong electronic defensive measures to prevent typical evasion techniques.
NetSol’s Information Security team will ensure the provisioning of hardware and software, lead the design and implementation, as well as train appropriate staff. This contract win reaffirms NetSol’s position in the market as a trusted partner for enterprise security management.
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NetSol Technologies, Inc. (NTWK) Up Over 30% Since Being Featured by QualityStocks
Wednesday of last week, QualityStocks initiated coverage of NetSol Technologies, Inc. (NASDAQ: NTWK). Since then the stock has risen from $0.80 to a high of $1.08 for gains of 35%! Volume has also increased substantially from a daily average of 105,657 to as high as 673,500 traded shares in a single day.
NetSol Technologies, Inc. leverages its BestShoring(TM) practices and highly experienced resources to deliver high-quality, cost-effective solutions. Their suite of products and services include credit and finance portfolio management systems, hospital/healthcare information management systems (HIMS), SAP consulting and services, custom development, systems integration, and technical services.
NetSol’s commitment to quality is demonstrated by its achievement of the ISO 9001, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a distinction shared by less than 100 companies worldwide. These distinctions are a result of adhering to rigorous quality standards, resulting in the delivery of solutions that are secure, reliable, properly planned, and meticulously executed.
Analysts are very supportive of the company with an average price target of $2.25. NetSol Technologies recently issued improved financial guidance expectations for its full year fiscal 2010 period ending June 30, 2010. Revenues are anticipated to be between $33.0 million and $35.0 million, representing growth of between 25% and 32%. The company also projects a return to GAAP net income versus a GAAP net loss of $0.30 per diluted share for fiscal year 2009.
NetSol’s years of capital investment in its offerings has the company extremely well positioned as demand amongst fortune 500 clients surges worldwide. Looking forward, the company is very optimistic of its short-term and long-term outlook as it sees strong growth in Asia Pacific as well as the South East Asian markets, while also envisioning unlimited potential for its niche solutions and services in the Americas.
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NetSol Technologies, Inc.’s (NTWK) Comprehensive Financial Suite
NetSol Technologies’ Financial Suite (“NFS”) provides businesses with comprehensive, custom solutions for credit, lease and loan accounting, fleet management, and wholesale finance needs. Built from the components of LeasePak and LeaseSoft, NFS combines innovation and flexibility with security and accuracy to seamlessly integrate itself with existing platforms and practices.
When the LeaseSoft products were developed, Netsol’s software engineers took the best practices of software development and financial industry business processes. Over a period of more than eight years, they developed the 100+ modules that make up the four comprehensive modules of LeaseSoft, quickly making it one of the leading solutions throughout the markets of Asia. Even though the LeaseSoft products are each, on their own, a complete system, they can be combined in any configuration to provide a custom solution.
The engineers who developed LeasePak have continuously striven to innovate and evolve the product to meet the changing needs of the marketplace. LeasePak consists of a base system that addresses all leasing and finance lifecycle functionality plus optional modules that can be used in any combination to facilitate the business products and processes of any particular organization.
By combining these two products, NFS provides an unparalleled suite of offerings to fit any organization worldwide. Offering an end-to-end automated solution that is efficient, productive, and powerful, the NetSol Financial Suite is the right choice, providing businesses a custom-fit solution for their organization.
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NetSol Technologies, Inc. (NTWK) Sets International Standard for Leasing and Finance Solutions
NetSol Technologies, Inc., the established provider of business services and enterprise software solutions to a growing global market, developed the NetSol Financial Suite (NFS) as a framework for robust and highly customized solutions that offer tight integration with existing systems across environments with multiple assets and languages.
One major, fully-integrated component of the NFS is the industry-renowned LeaseSoft, NetSol’s suite of end-to-end leasing and finance software solutions. Developed for finance and lending industries around the globe, NetSol Technologies Limited has created a unique suite of Enterprise IT Managed solutions based on the proven LeaseSoft technology.
LeaseSoft Asset is a specialized finance system, designed from the ground up to be a web-enabled package that harnesses the underlying technology that has made the NFS so successful.
The software is modular and therefore highly scalable while being robust enough to make it a clear industry leader in asset finance systems around the world. With an emphasis on accuracy and flexibility, LeaseSoft Asset was developed for tight integration with LeaseSoft Portal and Document Manager.
With the capacity to leverage additional applications for greater overall profitability in a way that allows for an increased variety of potential uses, LeaseSoft Asset is able to meet the demands of a growing and changing market on a stand-alone basis while interfacing seamlessly with external systems.
LeaseSoft Asset supports all the basic needs of captive finance, vendor and banking companies. Suitable for a wide range of installment credit lenders, including high volume lenders, LeaseSoft Asset was tailor-made for leasing, operating leasing, hire purchase, motor, finance and corporate products.
LeaseSoft Evolve was created with smaller finance companies in mind, especially those doing installment lending management, as a leasing loan administration toolkit which comes pre-configured, thus allowing rapid implementation into a company’s workflow.
Evolve is designed to be a cost-effective solution for business ranging from start-ups to established operations looking to streamline their process, including businesses with component broker and in-house-based finance. Because LeaseSoft Evolve allows for the easy creation and management of contracts throughout their life-cycle, and does so with a simple and solitary database structure, service is optimized and risk is reduced while allowing personnel to focus on other tasks.
Designed to be a comprehensive and powerful finance contract management system, this largely automated and web-enabled environment allows for easy management of multiple simultaneous contracts with little to no human intervention.
The ability to service every aspect of its targeted solution set, including uploading and cross checking, lookups, payouts, underwriting and even direct debiting in an automated and hands-free manner, leaves only tasks such as the amendment or early settlement of contracts to the end-user, and even in such cases allows for simple outsourcing to third party agencies.
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Nice article.I read & enjoyed it.Thanks
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