Archive for the ‘NetSol Technologies Inc NTWK’ Category

NetSol Technologies, Inc. (NTWK) Forms New Division to Concentrate on Sales and Delivery of SmartOCI Product for eProcurement

Tuesday, September 13th, 2011

NetSol Technologies, Inc., a worldwide provider of global IT and enterprise application solutions, today announced that it has formed a new division, Vroozi , Inc., to help increase the sale and delivery of its smartOCI e-commerce product that helps facilitate the B2B procurement process for companies. Netsol’s smartOCI product is a powerful search engine that improves purchasing efficiencies by allowing companies to access their global suppliers and retrieve competitive pricing information, as well as collaborate with suppliers to exchange and publish catalog content. NetSol made several announcements in August of Fortune 500 companies purchasing the smartOCI product to help streamline and improve their SAP eProcurement environment.

NetSol’s new division is named after the word “vroom”, reflecting speed to market, innovation and accelerating business operations. Vroozi, Inc. will work across all verticals to help companies find, negotiate and order goods and services from suppliers online. Vroozi will generate revenue by fees at time of implementation, monthly subscriptions and professional services.

“We believe Vroozi will help NetSol become an industry leader in B2B e-commerce technologies focused on optimizing information and data flow between corporate buyers and suppliers,” said Shaz Khan, senior vice president of NetSol and COO of Vroozi in a press release on Monday. “Companies are in search of solutions that help streamline their day-to-day operations, and Vroozi is well-poised to take market share as smartOCI continues to gain traction.”

For more information go to www.netsoltech.com

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NetSol Technologies, Inc. (NTWK) Enters Agreement with Brasilinvest Group to Launch Joint Venture in Brazil

Friday, May 20th, 2011

NetSol Technologies, Inc., a company that designs, develops, and markets software products for various industries worldwide, announced that it has signed a Memorandum of Understanding (MOU) with Brasilinvest Group, a large private business development company headquartered in Brazil, to create a software and IT service joint venture with a main focus on catering to the Latin American IT market.

The new joint venture will leverage the NetSol platform of software products and services and the Brasilinvest Group’s regional presence to capitalize on the increased demand for enterprise software solutions in Latin America. In accordance with the terms of the MOU, the joint venture will be majority owned by NetSol and 40% owned by the Brasilinvest Group. Rodman & Renshaw, LLC, a subsidiary Rodman & Renshaw Capital Group, Inc. (RODM) and NetSol’s financial advisor, facilitated the agreement.

According to Gartner, a leader in information technology research and advisory company, the Latin American enterprise software exhibited year-over-year growth in the mid to high teens during the year 2010, nearly twice as much as the global market average. Along with India, Russia, and China, Brazil is one of the “BRIC Countries,” four of the fastest emerging markets as recognized by Goldman Sachs. Brazil is the largest economy in Latin America and one of the most rapid-growing economies in the world, achieving 7.5% year-over-year GDP growth in 2010. Business Monitor International expects that Brazil’s total software market will be worth $4.4 billion in 2011 and will increase at a compound annual growth rate of up to 16% through the year 2015.

“We are very pleased to have this opportunity to work with Brasilinvest as we move forward on our goal to expand into Latin America,” commented Najeeb Ghauri, Chairman and CEO of NetSol. “Our target market, comprised of both multinational and local leasing and finance companies, has an established and growing presence in Brazil. Partnering with Mario Garnero, a leading businessman, and his organization, an entrenched player in the region, will set the stage for NetSol to make a strong entrance into this dynamic market.”

The Brasilinvest Group manages a diverse portfolio of investments and projects with a value of over $3 billion, making it one of the top 150 private groups in Brazil by net assets. In its 36-year history, the Brasilinvest Group has finished a large number of projects, which includes the privatization of Telia, Sweden’s leading mobile network operator ($1 billion), and the financial structuring of Sulbrasileiro Credito Imobilario ($980 million). Its current projects include the Tres Pontes do Atibaia Real Estate project in Sao Paolo, which is valued at $650 billion, and a joint venture worth $1.7 billion between an important royal Saudi group and a South American oil and gas leader. The Brasilinvest Group’s Board of Advisors consists of business leaders from various sectors and geographic regions. Shareholders include Mercedez Benz, Seiko, Nestle AG, Xerox Corp. and HSBC.

Mario Garnero, the founder of Brasilinvest Group in 1975, is one of Brazil’s most distinguished entrepreneurs. He previously was positioned as the Director of Volkswagen do Brasil, President of the National Confederation of Industry, and as a member of the Brazil’s National Energy Commission. As the Chairman of NEC do Brasilin in the early 1990s, Mr. Garnero was influential in bringing forth mobile technology to Brazil. He currently serves as the President of the Interamerican Institute for Juridical Studies in Mercosur, president of the Forum of the Americas, and the president of the United Narions Association-Brazil.

Mario Garnero, Founder and Chairman of the Brasilinvest Group, stated, “We are extremely excited to partner with NetSol, which is a proven global leader in its industry, and we look forward to our role in making NetSol’s value proposition a success in the burgeoning IT market within the fast-growing Latin American region. Our broad experience in the automotive, finance and IT sectors positions us well to bring great value to this joint venture relationship.”

For more information on NetSol Technologies, visit their company website at: http://www.netsoltech.com

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NetSol Technologies, Inc. (NTWK) CEO Najeeb Ghauri Provides Update on Corporate Business Developments

Wednesday, March 23rd, 2011

Netsol Technologies Inc., a leader in providing global business services and enterprise application solutions to various organizations around the world, announced a special update from CEO Najeeb Ghauri in regards to the company’s corporate business developments.

Mr. Ghauri, NetSol’s Chairman and CEO, stated: “We have seen a noticeable increase in activity within Pakistan’s public sector, and its health and private business sectors are also on the rise. As a premier IT company in Pakistan, NetSol has been invited as a pre-qualified company to tender offers for several new projects, and our business development teams are aggressively bidding for these contracts. We expect to periodically update our investors with material developments as we win these bids.”

The Company’s management completed various purchases of NetSol’s stocks recently, which includes 500,000 shares that were obtained in February and March of 2011. Mr. Ghauri commented, “The management team has enhanced its ownership through open market buying and exercise of options, which is reflective of our long-term view and outlook. We exercise options both to improve our shareholdings and also to take advantage of unusually low stock valuation. Our intention is to continue to enhance our ownership, and we have no plans to sell any shares.”

“Our backlog from previous quarters is keeping our sales and delivery teams very busy in the current quarter,” Mr. Ghauri continued. “In addition, we have a number of exciting announcements in the pipeline, and we expect to be able to share several of them with our investors over the next several weeks.”

The company also recently announced its North American launch of LeasePak-SaaS, which is a subscription based lease and loan accounting and portfolio management system delivered via the software-as-a-service (SaaS) deployment model.

NetSol’s LeasePak Enterprise finance management system has been used by global finance teams in banks, independents, and manufacturing captives for more than 25 years. Until now, the system has only been available as licensed software. However, with the launch of LeasePak-SaaS, the broad functionality of the LeasePak system now falls within the budgets of smaller companies, allowing them the flexibility to own the program.

Commenting on the business benefits of the new offering, NetSol’s Chairman and CEO, Najeeb Ghauri, stated, “LeasePak-SaaS will enable equipment and vehicle finance organizations to eliminate the overhead of software licensing, installed systems, dedicated IT resources and desktop maintenance services. Now, finance managers can provide their teams with the many benefits of cloud computing with no compromise in the scalability, functionality, or end-to-end integration of their core portfolio management solution.”

Mr. Ghauri continued, “The SaaS deployment option means that we can provide customers with as much technology as they need, scale their systems as they grow, and enable originators, accounting staff, and managers to use any computer, anywhere, at any time to securely access their information and track asset finance performance.”

NetSol Technologies, Inc. engages in the design and development of software products for the automobile finance and leasing, banking, healthcare, and financial services industries around the world. Additionally, the company offers business intelligence, independent system review, information security, and software process improvement consulting services; maintenance and support, as well as project management services. The company, formerly known as NetSol International Inc., changed its name to NetSol Technologies, Inc. in March of 2002. The company was founded in 1997 and is headquartered in Calabasas, California.

For more information on NetSol Technologies and its products, visit their company website: www.netsoltech.com

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NetSol Technologies (NTWK) Takes Security Seriously

Thursday, August 12th, 2010

One of the most important set of products and services offered by global enterprise software and support provider NetSol Technologies Inc. is their full range of information security solutions. These days, protecting the confidentiality, veracity, and accessibility of proprietary information is becoming one of the biggest problems faced by corporate America. NetSol covers the bases, first by comprehensively investigating and understanding a client’s technological and business security requirements and vulnerabilities, and then by working closely with the client, applying the most advanced technologies available, addressing both short term and long term needs.

Specifically, the company offers the following information security consulting services:

• Enterprise Security Analysis
• Penetration Testing & Vulnerability Assessment
• Information Security Audit
• Secure Network Design & Deployment
• Business Continuity/Disaster Recovery Planning
• ISO 20000 and 27001 Lifecycle Consulting

The testing and evaluation is, in a word, merciless. For example, NetSol’s Penetration Testing & Vulnerability Assessment systematically evaluates the security of the client’s information network by actually simulating an attack by a malicious user. Analysis is carried out from the position of an attacker, trying every trick possible to detect vulnerabilities. When even the slightest weaknesses are found, they are presented, along with the options available to plug the leak.

NetSol’s Network Design & Deployment process offers product-independent network designs, as well as design reviews, with an emphasis on all potential vulnerabilities and network management shortfalls. NetSol works directly with the client’s IT management to identify the current and future networking requirements and security measures, and validates the design in a real-world environment.

NetSol’s Business Continuity Planning/Disaster Recovery services are designed to ensure the most effective, robust, and sustainable plans available, carefully aligned with the infrastructure and applications that support them. They use international best practices and standards, including ISO 27001/BS7799 and ISO 25999.

Finally, regarding specific security products, NetSol is known for applying only the best:

• IBM Tivoli Security Solutions
• IBM Tivoli Security Information & Event Management (TSIEM)
• IBM Tivoli Identity Manager (TIM)
• IBM Tivoli Access Manager (TAM)
• IBM Tivoli Enterprise Single Sign-On

• IBM Enterprise Protection Products
• IBM Proventia Network Intrusion Prevention System
• IBM Proventia Multi-Function Security
• IBM Proventia Enterprise Scanner & Internet Scanner Software
• IBM Proventia Network Mail Security System
• IBM Proventia Management SiteProtector System

• Kaspersky Open Space Security
• Kaspersky Work Space Security
• Kaspersky Business Space Security
• Kaspersky Enterprise Space Security
• Kaspersky Total Space Security

For more information, visit www.NetSolTech.com.

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Increase In North American Sales a Bonus for NetSol Technologies, Inc. (NTWK)

Thursday, August 5th, 2010

For NetSol Technologies Inc. (NASDAQ: NTWK), global provider of enterprise application solutions, the recent jump in North American sales is frosting on the cake, coming off of significant accomplishments overseas. The company had been focusing on its growing global position, recently announcing a major contract with Sany Corp. of China. Sany is the largest concrete machinery manufacturer in the world, and is considered to have the highest growth momentum in China. NetSol then announced the successful implementation of its NFS (NetSol Financial Suite) by Minsheng Financial Leasing Co. Ltd.

And now the company has declared a major rebound in quarterly North American sales, resulting largely from current clients ordering enhancements and upgrades to existing installations. Orders include the purchase of additional licenses for NetSol’s LeasePak lease management solution plus software upgrades for the company’s Wholesale Finance System.

NetSol Chairman and CEO, Najeeb Ghauri, commented, “The increase in enhancement-related revenue suggests growing North American demand for our LeasePak product. As our major U.S.-based clients seek to upgrade their existing systems, we look forward to providing them with flexible, modular software solutions to meet their changing needs. We are very upbeat about the long-term outlook for NetSol’s products and services in the U.S. market.”

NetSol’s LeasePak has long been the lease, loan, and asset solution for leading banks, equipment lessors, commercial loan companies, and vehicle lessors throughout North America, and is a key component of the company’s Finacial Suite (NFS) comprehensive lifecycle product.

Overall, NetSol has weathered the ongoing economic storm far better than most, due to its strong relationship with software giant SAP and the well known quality of its products and services. The company has achieved ISO 9001, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a distinction shared by fewer than 100 companies worldwide.

For more information, visit www.NetSolTech.com

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NetSol Technologies, Inc. (NTWK) Commences Share Repurchase Plan of Up to 2 Million Shares

Tuesday, July 27th, 2010

NetSol Technologies, Inc., a worldwide provider of global IT and enterprise application solutions, announced this morning that the Company’s board of directors has authorized a share repurchase program for up to 2 million shares of the Company’s common stock. The plan went into effect today and is expected to be completed within six months.

NetSol’s Chairman and CEO, Najeeb Ghauri, stated, “I am pleased to announce the Company’s stock buyback plan, which we believe will increase the value of the shares held by our investors. We are very excited and bullish about our global business outlook, as demand for our NFS(TM) platform has surged over the last two quarters and grown our backlog substantially. This is an excellent opportunity for us to initiate this open-market buyback, as we believe that our stock is quite undervalued based on fundamentals and intrinsic value.”

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NetSol Technologies, Inc. (NTWK) Inks Contract to Implement NFS CAP Solution with a Major U.S. Auto Manufacturer in China

Monday, July 26th, 2010

NetSol Technologies, Inc., a worldwide provider of global IT and enterprise application solutions, announced this morning that it was awarded a major software and IT services contract valued more than $1 million with a major U.S. automotive manufacturer’s captive finance arm in China. According to the press release, NetSol will provide its Credit Application Processing solution to fully automate point of sale (POS) functions in the client’s Chinese dealer network as well as install its next-generation platform to capture all credit and client data at the point of sale to streamline and automate the entire credit application capture process.

Naeem Ghauri, President and Head of Global Sales at NetSol, stated, “This is a major win for NetSol’s China operations. Our state-of-the-art auto leasing platform has become the de facto gold standard in the Chinese IT market. This new win clearly establishes NFS as a market leader with over 90% IT market share in China’s captive auto finance sector. We expect to sign a number of new deals in the foreseeable future, as our pipeline remains strong and growing.”

China overtook the U.S. last year to become the world’s largest auto market, with more than 13 million vehicles sold during the year. Research firm J.D. Power and Associates has estimated that sales of passenger vehicles (a category that includes passenger cars, SUVs and minivans) in China will increase from 8.7 million vehicles in 2009 to 13.5 million vehicles by 2015, a 55.2% increase.

Credit Application Processing (CAP), a component of the NetSol Financial Suite (NFSTM) of products, is a web-based credit evaluation system that provides finance and leasing companies with the ability to quickly assess the merit and risk level of an applicant applying for a loan or a lease. Although the system is designed to seamlessly integrate with NetSol’s POS module, it can also be customized to link to any third-party point of sale system.

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NetSol Technologies, Inc. (NTWK) Subsidiary Makes Move to Acquire NetSol’s European and North American Subsidiaries

Wednesday, July 21st, 2010

NetSol Technologies, Inc., a worldwide provider of global IT and enterprise application solutions, announced this morning that it has received a proposal to transfer ownership of its two wholly owned subsidiaries, NetSol Technologies Europe (“NTE”) and NetSol Technologies North America, Inc. (“NTNA”), to NetSol Technologies Ltd. (“NTPK”), the Company’s majority-owned subsidiary in Pakistan.

The Pakistan subsidiary has proposed to purchase the two subsidiaries from NetSol at a premium to book value in an all-stock transaction. NetSol currently owns 58% of NTPK and 100% of both NTE and NTNA. If approved, the internal sale of both NTE and NTNA would increase NetSol’s ownership stake in NTPK from 58% to 76%. The total estimated value of both NTE and NTNA by an independent appraisal firm is approximately $20 million.

Once the transaction has been made, the subsidiaries will continue to operate in their present locations, but the reporting of NetSol’s three subsidiaries would be consolidated under one entity, NTPK. Currently, each subsidiary operates under NetSol, however, while the revenue of NTPK is reported and disclosed as part of NetSol’s gross revenues, the bottom line profitability of NetSol is reduced by the minority interest ownership in NTPK. In its current form, the transaction will increase NetSol’s ownership in NTPK, thereby reducing its minority interest. Because the increase in ownership would allow NetSol to recognize a greater portion of NTPK’s revenues and earnings as its own, the Company would expect a net accretive effect on its earnings per share.

Najeeb Ghauri, Chairman and CEO of NetSol, stated, “If approved by the NetSol board, the agreement is a win-win situation for our employees, shareholders and customers worldwide. We expect this transaction to strengthen the symbiotic relationship between our subsidiaries, resulting in increased operating efficiency. Furthermore, we expect NetSol Pakistan’s higher margins to result in improved profitability for the Company. We anticipate that this internal transaction will improve our bottom line and ultimately enhance value for our shareholders.”

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NetSol Technologies, Inc. (NTWK) Announces Upgrade Agreement with Singers Healthcare Finance Limited

Tuesday, July 20th, 2010

NetSol Technologies, Inc., a worldwide provider of global IT and enterprise application solutions, this morning announced that the Company has signed a LeaseSoft license upgrade agreement with Singers Healthcare Finance Limited (“SHFL”), one of the UK’s leading providers of leasing solutions to the healthcare industry.

As terms of the agreement, SHFL will upgrade to the latest version of NetSol’s LeaseSoft asset management solution. With this upgrade, SHFL will gain a large number of functionality enhancements, including specific enhancements to support SHFL’s expanding business within the healthcare equipment leasing industry.

Susan Hinton-Smith, CEO of SHFL, commented, “We have enjoyed a successful relationship with NetSol, and this upgrade agreement is made in the certain knowledge that NetSol delivers on its promises. During our time working with NetSol, we have always found them to be refreshingly open and honest. Their consultants thoroughly understand our business, and the Company’s approach has always been flexible and commercially realistic. We view NetSol as a partner, and we look forward to extending that partnership in the years ahead.”

Naeem Ghauri, CEO and Head of Global Sales for NetSol Technologies Europe, stated, “We are delighted that SHFL has decided to work with us for their system upgrade project. We are immensely proud of our customer base and the longstanding relationships we develop. SHFL’s decision is proof that, as a business, we are in tune with our customers, have deep domain expertise and provide a strong solution, service and support package. It is gratifying to win a new customer, but equally as important to know that our existing customers are happy to come back for more.”

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NetSol Technologies, Inc. (NTWK) Continues to Rack Up China and Global Success

Monday, July 19th, 2010

NetSol Technologies Inc. continues to strengthen its position in China and around the world, with a recent string of good news kicked off by its recent announcement of a major contract with giant Sany Corp. of China. The agreement calls for NetSol to deploy its popular Financial Suite (NFS) solution across Sany’s vast dealership network, as well as in its back office centers across China.

The deal represents a huge success for NetSol. Sany Corp. is the largest concrete machinery manufacturer in the world, and one of the world’s top 50 construction machinery manufacturers. It has also been honored as the most profitable and competitive enterprise in the engineering machinery industry, with the highest growth momentum in China. That Sany picked NetSol testifies to the company’s strong global reputation and the unmatched appeal of their products.

NetSol head of Global Sales, Naeem Ghauri, commented, “This win is one of many we have in our current pipeline and is a further validation of our China strategy and our NFS value proposition. We have a clear market leadership in this exciting space, which is continuing to grow exponentially in China.”

Following up on the Sany deal, NetSol announced on July 6 the successful implementation of its NFS solution by Minsheng Financial Leasing Co. Ltd., NetSol’s first major banking-oriented financial leasing client in China. According to Minsheng, the system has already helped normalize its business processes and significantly improve its operational efficiency.

And now, NetSol has announced that North American sales of enhancements to its LeasePak lease management solution have jumped, suggesting growing North American demand for LeasePak, and leading the company’s Chairman and CEO, Najeeb Ghauri, to say “We are very upbeat about the long-term outlook for NetSol’s products and services in the U.S. market.”

For more information on NetSol Technologies, visit the company website at www.NetSolTech.com

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NetSol Technologies, Inc. (NTWK) Announces Rebound in North American Sales as Existing Customers Increase Orders

Wednesday, July 14th, 2010

NetSol Technologies, Inc., a worldwide provider of global IT and enterprise application solutions, announced sales in North American related to enhancements to its LeasePak lease management solution have increased significantly from this year’s second quarter into the current quarter.

According to the press release, NetSol Technologies’ North American division has sold additional LeasePak licenses to a number of existing customers, including the finance arm of a large automotive manufacturing company. The company has also experienced a considerable increase in software upgrade revenue, which was credited to new functionality required by North American customers using the LeasePak and Wholesale Finance System.

Najeeb Ghauri, Chairman and CEO of NetSol, stated, “The increase in enhancement-related revenue suggests growing North American demand for our LeasePak product. As our major U.S.-based clients seek to upgrade their existing systems, we look forward to providing them with flexible, modular software solutions to meet their changing needs. We are very upbeat about the long-term outlook for NetSol’s products and services in the U.S. market.”

For more than three decades, LeasePak has been the lease, loan, and asset solution for leading banks, equipment lessors, commercial loan companies, and vehicle lessors throughout North America. LeasePak is a key component of NetSol Financial Suite’s end-to-end lifecycle solution.

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NetSol Technologies, Inc. (NTWK) Builds On Vast SAP Market

Monday, July 12th, 2010

It’s no secret that leading IT solutions company NetSol Technologies Inc. owes much of its success to its close relationship with mega software provider SAP. As a preeminent SAP Services Partner, NetSol works closely with SAP, and has committed itself to delivering SAP models and management solutions worldwide.

It’s a critical partnership to have since SAP is the world’s 3rd biggest independent software producer, with over 97,000 customers in 120 countries throughout the world. By helping customers realize the full potential of their SAP investment, NetSol has ensured itself a growing position within the huge and expanding business software industry.

Every one of the SAP Practice Areas that NetSol is able to enhance represents a world of door-opening opportunities which NetSol continues to tap:

• ERP – Enterprise Resource Management is the core SAP product, operating the foundational processes of an organization. NetSol helps plan new ERP module initiation, implementation, and upgrades to ensure the process goes smoothly.
• SRM – Supplier Relationship Management delivers the sourcing and procurement functions that ensure a cost effective and trusted supplier network. NetSol can leverage a customer’s SRM system to achieve sustainable savings, faster alerts and innovations, and superior tracking.
• SCM – Supply Chain Management automates much of the collaboration, planning, executing, and coordination of the entire supply network, enabling lower costs and consistent supplies. NetSol helps maximize efficiencies in areas like demand pulling, inventory management, scheduling, transportation, and forecasting.
• CRM – Customer Relations Management coordinates all interactions between a business and its customer base, including marketing, sales, service, and billing. NetSol helps lay out a CRM roadmap and strategy to ensure the optimum integration with sophisticated SAP CRM functionalities.

For all of the above areas, NetSol provides Solutions Management, Project Management, Staff Augmentation, and Training, making NetSol services and related systems an extremely attractive addition to virtually any SAP customer, a vast and growing market. In addition, NetSol offers a number of its own powerful and unique software products, independent of SAP but of special value to clients requiring a seamless integration to their SAP environment.

Taken together, it shows why NetSol is in one of the greatest positions of any company in the industry to take advantage of long-delayed business software purchases.

For more information on the company, visit www.netsoltech.com

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NetSol Technologies, Inc. (NTWK) Video Chart for Wednesday, July 7, 2010

Wednesday, July 7th, 2010

NTWK is still in an overall downtrend, but holding a base and making slightly higher lows at this point. Look for it to hold the base and challenge the 50dma to break through resistance.

Please click the following link: http://www.qualitystocks.net/videocharts.php?chartvid_id=433

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Leading Chinese Financial Leasing Company Implements NetSol Technologies, Inc. (NTWK) NFS Solution

Tuesday, July 6th, 2010

NetSol Technologies, Inc., worldwide provider of global IT and enterprise application solutions, announced the successful implementation of its Financial Suite of financial leasing products by Minsheng Financial Leasing Co., Ltd., a leading financial leasing company in China.

The implementation includes Netsol’s CAP (Credit Application System) and CMS (Contract Management System) solutions. According to Minsheng Financial Leasing, the system’s installment, launched in July 2009, has helped normalize and standardize business processes, increase participation in the financing sphere, and tremendously improve operational efficiency.

China’s rapidly developing financial leasing industry, which grew at a rate of 138.7% in 2009, is playing an important role in the nation’s growing adoption of advanced IT solutions. An increasing number of Chinese financial institutions are showing interest in streamlining their operations by replacing their initial IT systems with flexible, integrated enterprise technology solutions. According to the press release, Minsheng Financial Leasing is NetSol’s first major banking-oriented financial leasing client in China.

Salim Ghauri, President of NetSol Technologies, stated, “This is a major breakthrough that marks an exciting new chapter in NetSol Technologies’ history. Building on the great success we have experienced providing IT solutions to the worldwide automotive industry, we are beginning to focus on developing future growth through expanding into the financial leasing sector. We anticipate that our successful collaboration with Minsheng Financial Leasing will open up new opportunities for NetSol within China’s flourishing financial leasing industry.”

“We are grateful for NetSol’s commitment to working side-by-side with Minsheng Financial Leasing to offer one of the most advanced IT systems in China’s financial leasing industry,” commented Dong Wenbiao, Chairman of China Minsheng Bank Corp. Ltd. “We hope that we can continue to build co-operation with NetSol on technology development and communication.”

Kong Linshan, President of Minsheng Financial Leasing, added, “We selected NetSol Technologies as our IT solutions provider based on their technical expertise and their ability to provide comprehensive support for multinational businesses. One year later, we couldn’t be happier with the results, and it is clear that we made the right decision. The rollout of the system is a landmark achievement for both Minsheng Financial Leasing and NetSol. Together we have developed a feature-rich core business system that displays a level of sophistication previously unseen in China’s financial leasing industry. As our business evolves along with the market, we look forward to continuing our partnership with NetSol to ensure that our system remains at the forefront of the industry.”

“We were impressed by the speed with which NetSol was able to develop and implement a custom financial solution for our business,” said Wang Rong, Vice President of Minsheng Financial Leasing. “The resulting system has boosted our competitiveness within China’s financial leasing industry by giving us the flexibility to respond easily to changing market conditions. In addition, the system’s ability to translate languages and currencies has helped us integrate effectively into the international market.”

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NetSol Technologies, Inc. (NTWK) to Present at RedChip’s Upcoming Midsummer New York Equities Conference

Monday, June 28th, 2010

RedChip Companies, Inc. announced this afternoon that the CEOs and executive teams of 14 emerging growth companies will deliver presentations to investors during the RedChip 2010 Midsummer Elite Equities Conference on July 21, 2010 at the NASDAQ MarketSite (4 Times Square) in New York City.

RedChip investor conferences feature emerging small-cap companies that present their stories to hundreds of retail brokers, institutional brokers, fund managers, portfolio managers, accredited investors and research analysts. Pre-qualified financial professionals and investors are provided with free admission.

During this year’s mid-summer event, investors will have the opportunity to meet one-on-one with the CEOs of presenting companies representing a wide range of sectors including Biotechnology, Healthcare, Education, Oil & Gas, Basic Materials, Consumer Goods, Alternative Energy, Precious Metals Mining and more. NetSol Technologies, Inc. will be one of the featured companies.

For a full list of presenting companies, visit http://www.redchip.com/visibility/conferencePages/newyorkJul2010/conferenceMain.asp?page=presenterlist.

Those unable to attend the conference in person will be able to view company presentations at http://www.RedChip.com.

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NetSol Technologies, Inc. (NTWK) Re-Engineering Healthcare Information Processing

Wednesday, June 23rd, 2010

NetSol Technologies Inc., a worldwide provider of automated and IT enabled enterprise software solutions, and recognized SAP Services Partner, has become a major player in re-engineering the information processing side of the healthcare industry.

Healthcare is an industry undergoing major changes and rapid growth, and is in urgent need of automation. Effective software solutions must incorporate a vast array of governmental and industrial rules, while offering an extraordinarily efficient engine for identifying and controlling costs, in addition to allowing easy scaling and functional growth.

NetSol works closely with the industry, providing automated, secure, and integrated solutions for the clinical, financial, and management requirements of hospitals and associated healthcare organizations. NetSol’s innovative Hospital Management Information System (HIMS) is a sophisticated ERP (Enterprise Resource Planning) system, especially designed for hospitals and healthcare clinics. It seamlessly integrates advanced and comprehensive medical records management, multi-tiered data security, highly flexible data search capabilities, and customizable categorizations. From a business standpoint, the result is unparalleled efficiency and cost effectiveness, leading to bottom line profitability.

Solutions are available for a variety of healthcare groups, including:
• Hospitals
• Medical offices
• Physicians’ medical groups
• Nursing and residential care facilities
• Home healthcare services
• Outpatient care centers
• Medical and diagnostic laboratories
• Health maintenance organizations (HMOs)

Healthcare-specific solutions include systems and services for:
• Electronic Health/Medical Record (EHR/EMR) handling
• HIPAA compliance strategies
• Billing, payment, and insurance claims handling
• Research and testing support
• Healthcare codes (DSM-IV, ICD-9, ICD-10, etc.) integration

NetSol’s ongoing success in the healthcare industry is another reason why the company has been able to successfully weather even the most challenging economic times. While others have perished, NetSol is anticipating to close out an incredible year.

For more information, see the company website at www.NetSolTech.com.

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NetSol Technologies, Inc. (NTWK) Announces Contract with Sany Corp. of China for Implementation of NFS Solution

Tuesday, June 15th, 2010

Today, NetSol Technologies, Inc. announced that Sany Corp. of China, the largest concrete equipment manufacturer in the world, signed a contract of notable value to install NetSol’s Financial Suite (“NFS”) solution to run its newly formed finance company. The complete NFS suite, including Credit Application Processing (CAP), Contract Management System (CMS) and Wholesale Finance System (WFS), is to be deployed across Sany’s vast dealer network as well as its business back office centers across China.

The largest concrete machinery manufacturer in the world, Sany is one of the Global Top 50 Construction Machinery Manufacturers and one of China’s Top 500 Enterprises. The company has been honored as the most profitable and competitive enterprise in the engineering machinery industry, Top Chinese Enterprise by Forbes, Brand with the Highest Growth Momentum in China, Symbolic Brand in Chinese Engineering Machinery Industry and one of the Top 500 Brands in Asia.

Sany Heavy Industry Co., Ltd, a core subsidiary of Sany Group, which got listed on the Shanghai Stock Exchange on July 3, 2007, was the first Chinese enterprise to successfully realize the non-tradable shares reform and to put its shares into full circulation.

Naeem Ghauri, head of Global Sales and President of NetSol Technologies, Inc. for Europe, stated, “This win is one of many we have in our current pipeline and is a further validation of our China strategy and our NFS value proposition. We have a clear market leadership in this exciting space, which is continuing to grow exponentially in China.”

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NetSol Technologies Inc. (NTWK) Thrives Despite Economic Turbulence

Monday, June 14th, 2010

When NetSol Technologies announced recently that it had secured $3 million from a major international automotive maker’s captive finance company in the Asia-Pacific region, it was just one more reflection of the very real difference between NetSol and so many other companies in the enterprise software business. In the midst of the most challenging period in that industry, perhaps since its inception, NetSol has been able to leverage its unsurpassed reputation for quality, its strong relationship with SAP technology, and its expanding worldwide connections to survive and grow. It’s this very unusual mix of strengths that make NetSol such an important investment consideration.

NetSol is a global provider of financial and other enterprise software solutions and business services to a variety of industries, including financial, healthcare, insurance, energy, and technology markets. It is one of only about 100 companies in the world to achieve ISO 9001, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments. In other words, it has a major certification of quality and trust every time it walks in the door. In an industry that is all too often known for its history of customer complaints, this is a critical and hard-won badge, especially in global environments that base relationships on personal integrity and reputation.

NetSol’s signing of a combined $3 million Asia-Pacific agreement comes on the heels of an agreement with a Chinese finance company partnered with a major European bank and a multi-billion dollar Chinese financial services group. NetSol’s global perspective, including growing contacts in Asia and the Middle East, has allowed it to weather regional storms, taking advantage of stronger world opportunities. It has also worked to develop a number of strategic global alliances, such as the recent Atheeb NetSol venture with the Atheeb Group of Saudi Arabia. It’s a fundamental strategy that allows the company to better penetrate new geographical markets and industries, and to grow technologically.

As parts of the world economy start to improve, NetSol’s well planned and long cultivated mix of attributes, the same qualities that have kept it going while so many others have been buried by the recession, should allow it to flourish.

All of this is backed up by the most recent financial results, covering the company’s third quarter ended March 31, 2010. Quarterly revenues were reported as $8.9 million, up 77.8% from the $5 million reported for the same period last year, headed by a 100% sequential growth in core NetSol Financial Suite (NFS) TM license sales. Total net revenue from license fees was $3.64 million, an increase of 1,022% over the same period last year. Operating income increased to $2.58 million, compared to an operating loss of $4.26 million for the same period last year. EBITA totaled $1.9 million, or $.05 per diluted share, versus an EBITA loss of $3.5 million, or a loss of ($.013) per diluted share for the same period last year. Net income per share totaled $.02, versus a loss ($.19) for the same period a year ago. In addition, revenues for the nine months ended March 31, 2010, were up 33%, to $26.1 million, over the same nine-month period last year.

NetSol Chairman and CEO, Najeeb Ghauri, commented on the impressive numbers. “We are very pleased with our performance in the third fiscal quarter, highlighted by a 78% increase in our sales versus the same period a year ago and a return to quarterly profitability for the first time in six quarters. It is our aim to finish the year completely profitable on the fiscal year analysis. Our financial results continue to deliver material improvements in every major metric of financial health, and we are optimistic about future outlook.”

He concluded, “Our efforts to invest in our core NetSol Financial Suite (NFS)TM throughout the global economic downturn has well positioned the company to leverage the upturn in customer activity that we continue to see, particularly in China and APAC region in general. We enter the end of our fiscal year 2010 with the most positive momentum in the company’s recent history and we see increased interest among our major customers as well as new potential partners in the sector. Additionally, we see excellent opportunities for collaboration and strategic initiatives as we head to the conclusion of the fiscal year 2010.”

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NetSol Technologies, Inc.’s (NTWK) Announces SAP Certification for Its smartOCI(TM) Search Engine

Thursday, June 10th, 2010

NetSol Technologies, Inc., a worldwide provider of global IT and enterprise application solutions, announced this morning that the Company’s eProcurement catalog search engine, smartOCI(TM), has been certified by SAP for integration with SAP applications.

According to the press release, smartOCI(TM) achieved the highest level of certification with the B2B-OCI catalog interface, allowing buying organizations to use smartOCI(TM) to search and exchange catalog content from suppliers worldwide and transfer these purchasing requests to the SAP and SRM backend systems. Launched only a month ago, smartOCI(TM) is designed to provide corporate buyers and shoppers a simple and intuitive user interface to search multiple supplier catalogs simultaneously within the SAP SRM application.

Najeeb Ghauri, NetSol Technologies Chairman and CEO, stated, “Achieving SAP certification with our smartOCI(TM) product is an important milestone for our organization and provides our SAP customers and prospects with the confidence that the smartOCI(TM) product properly integrates with the SAP product line.”

NetSol is currently partnered with SAP in its PartnerEdge program, which allows the company to work closely with SAP to develop and certify the technical integration of its products with SAP software. Integrated partner applications extend, complement and add value to SAP solutions, thus helping mutual customers more successfully meet business needs and drive stronger results.

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NetSol Technologies, Inc. (NTWK) Receives “Strong Buy” Rating and $3.00 Price Target from RedChip Visibility

Tuesday, June 8th, 2010

RedChip Visibility, a division of RedChip Companies, Inc., yesterday announced its initiation of coverage on NetSol Technologies Inc., a developer and implementer of global business services and enterprise application solutions.

Bill Matson, CFA, RedChip Research Analyst, stated, “NetSol’s global footprint, low labor costs, proven quality, and software with the ability to consolidate an unprecedented variety of global IT functions in one location for credit-based businesses have allowed the Company to build a diversified blue chip client base.”

“While approximately 60% of NetSol’s revenues are currently derived from its NetSol Financial Suite(TM), it must be noted that the Company is involved in varying degrees with several initiatives that could ultimately surpass the scale of its business with credit-based businesses. These opportunities include defense, health care, land records management, property and casualty insurance, and SAP-compatible software.”

Matson added, “Trading close to its GAAP book value and at what we believe is an unreasonably low 6.3x projected fiscal 2011 earnings, we are initiating coverage of NTWK with a Strong Buy rating and a price target of $3.00.”

Investors interested in receiving a complimentary copy of the RedChip Visibility Initial Research Report for NTWK should visit: http://www.redchip.com/about/aboutmain.asp?rid=252

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NetSol Technologies, Inc. (NTWK) Offers Full Credit Bureau Capabilities with Web-Based Product

Wednesday, June 2nd, 2010

NetSol Technologies Inc., a leading global enterprise software company, offers among its many products and services one of the most advanced credit automation systems available anywhere in the world. Its name is Electronic Credit Information Bureau (e-CIB) and it allows any commercial or governmental operation to fully automate the functionalities of a credit bureau. Completely web-based, the system provides the user direct and immediate online access to borrower financial data. It’s an end-to-end solution for credit bureaus, banks, and other commercial and government users.

e-CIB is state-of-the-art, incorporating Oracle and Java, with a secure interface made possible through the use of the latest SSL and VPN networking technologies, and also includes XML based integration. It’s a highly scalable system, able to handle an estimated increase from around 100,000 to 3 million credit information requests per month, and can easily grow with the user.

System capabilities are divided into three major components:

• Data Capture (data collection) – e-CIB greatly reduces the data entry and consolidation burden, decreasing associated errors, and is designed to minimize data upload time for fast operation.
• Back Office (credit profile generation) – The system provides easy and secure data storage and tracking, and can easily deal with large transaction volumes.
• Data Inquiry (customer service) – It can handle many concurrent users, with consistently quick and reliable credit application processing.

The bottom line is that e-CIB is a unique product, allowing users to more efficiently identify and monitor credit risk, and thus helps the user better approach potential customers by providing fast and accurate information regarding their credit rating and debt burden.

It’s a good example of why NetSol is always able to stay ahead of the crowd with leading edge offerings. The fact that the company is also one of only 100 companies around the world to have achieved ISO 9001, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, dramatically backs up e-CIB and all of their other products.

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NetSol Technologies, Inc. (NTWK) Announces Over $3 Million in New Contracts as Major Automotive Finance Company Implements NetSol Financial Suite(TM)

Thursday, May 27th, 2010

NetSol Technologies, Inc., a worldwide provider of global IT and enterprise application solutions, announced this morning that it has secured two major projects worth more than $3 million to implement its NetSol Financial Suite (NFS)(TM) Contract Management System (CMS) with a major international automotive manufacturer’s captive finance company in the Asia-Pacific Region.

NetSol’s solution will fully automate the customer’s financing business, providing improved operational efficiencies, enhanced contract lifecycle management, increased financial visibility, and quick return on investment. The contract has been skillfully structured for significant upfront as well as recurring revenue components.

Naeem Ghauri, Head of Global Sales of NetSol and President of NetSol Technologies Europe, Ltd., stated, “Emerging and mature markets in Asia Pacific are driving our recovery with these new contract wins. Our visibility in this dynamic region continues to grow and we see our access to the market increasing with each new win. Currently, NetSol is positioned ahead of its competitors to benefit from the growth in the APAC Automotive Finance sector.”

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NetSol Technologies, Inc.’s (NTWK) Web of Global Alliances and Joint Ventures

Wednesday, May 26th, 2010

NetSol Technologies Inc. is a worldwide provider of global IT and enterprise application solutions. The company serves the global financial, healthcare, insurance, energy and technology markets. One of the key approaches of NetSol has been to develop strategic global alliances with different types of partners. The aim is to establish credibility for the customers, enhance knowledge on different technologies and industries, and penetration into new geographical markets.

Currently, the company is focused on two joint ventures. The first joint venture, called Extended Innovation, was formed in 2005 with Britain’s Innovation Group PLC. This venture has shown tremendous growth since its formation and is centered on the insurance industry. It services leading global insurance companies including Allstate, Hertz, Avis, Aviva and Norwich Union.

In 2009, NetSol formed another joint venture, called Atheeb NetSol, with Atheeb Group of Saudi Arabia – a Saudi conglomerate. Atheeb NetSol is to form a “software engineering center of excellence” in Riyadh, Saudi Arabia. The joint venture will target the huge potential existing in IT markets in the Middle East, Africa and Asia, particularly in Saudi Arabia and the Gulf region. The venture’s major focus will be on government projects, defense, finance and telecom sectors in the region.

In addition to these two important joint ventures, NetSol is affiliated with the biggest names in the global IT industry. These affiliations have allowed NetSol to develop its expertise across a wide spectrum which helps in providing a comprehensive, organization-wide IT solution for clients. The following list of companies partnered with NetSol is quite impressive:

• Oracle certified partner – NetSol has won Oracle certification for its products including NFS, HMIS, MTMIS, Legislation system and other products.
• Microsoft gold certified partner – NetSol received competencies (from customer references) in five different areas of the Microsoft gold partnership.
• SAP – NetSol is a SAP services partner, and delivers superior SAP solutions to Fortune 1000 companies across many industries.
• Hewlett Packard-DSPP partner – HP developer and solution provider portal allows NetSol quick and easy web access to HP hardware, support and software.
• IBM-Internet Security Systems – NetSol is a tier 1 partner of IBM-ISS in Pakistan. It is licensed to provide the hardware, software and services to clients in Pakistan.
• Thales Raytheon Systems – Netsol, as a technology partner, represents Raytheon Defense Solutions in Pakistan.
• Kaspersky Lab – NetSol, an enterprise partner of Kaspersky Labs Russia, provides end point security solutions to clients in the telecom, finance, defense, health and public sectors.
• Real Consulting – The companies have a collaboration to introduce NetSol’s IT services and enterprise solutions into Greece and adjacent markets.
• Neptune Software PLC – There is a non-exclusive and non-competitive reseller agreement between the companies for South Africa, Ghana, Kenya, Nigeria, Uganda and other nations on the African continent.

For more information on NetSol Technologies, please visit www.netsoltech.com.

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Founders Acquire Over 1 Million Shares of NetSol Technologies, Inc. (NTWK)

Tuesday, May 18th, 2010

NetSol Technologies, Inc., a worldwide provider of global IT and enterprise application solutions, announced today that its three founding officers acquired over 1 million shares in the company through a private transaction. Purchased at the price of $0.87 on May 14, 2010, Najeeb Ghauri, CEO and Chairman, acquired 375,000 shares of stock, Salim Ghauri, President APAC, acquired 350,000 shares, and Naeem Ghauri, President NTE, acquired 309,383 shares. Each founder filed an SEC Form 4 to report the acquisition.

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.

Serving the global financial, healthcare, insurance, energy, and technology markets, NetSol has operations, offices, and joint ventures in Adelaide, Bangkok, Beijing, 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.

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NetSol Technologies, Inc. (NTWK) Reports Strong Q3 FY 2010 Financial Results

Wednesday, May 12th, 2010

NetSol Technologies, Inc., a worldwide provider of global IT and enterprise application solutions, this morning reported its consolidated financial results for the third quarter ended March 31, 2010. The results included an remarkable increase in sales and a return to profitability.

The company highlighted the following results:

•Revenues for the fiscal year 2010 third quarter totaled $8.9 million, an increase of $3.9 million, or 77.8%, over the same period a year earlier.

•Net income per share totaled $0.02 versus a loss ($0.19) for the same period a year ago.

•Net revenues from license fees totaled $3.64 million, an increase of 1,022% versus the same period a year ago.

•100% sequential growth in the core NetSol Financial Suite(TM) license sales.

•Gross margin increased to 61.3% compared to 10.7% in the same period a year ago.

•Operating income increased to $2.58 million as compared to an operating loss of $4.26 million in the same period a year ago.

•EBITDA totaled $1.9 million or $0.05 per diluted share, versus an EBITDA loss of $3.5 million, or a loss of ($0.13) per diluted share, in the year-ago period.

In the press release, the company also reiterated its previous guidance for fiscal year 2010 projecting revenues in the range of $33.0 million and $35.0 million, representing full-year revenue growth of between 25% and 32% over fiscal year 2009. The Company projects a return to GAAP net income for fiscal year 2010, versus a GAAP net loss of $0.30 per diluted share for fiscal year 2009. License revenues for fiscal year 2010 are projected to increase more than 100% over fiscal year 2009.

In addition to the results for the three month period, the company also reported financial results for the nine-months ended March 31, 2010:

•Revenues for the nine months ended March 31, 2010 totaled $26.1 million up from $19.6 million for the same period year-over-year representing an increase of $6.5 million or 33%.

•Net revenues from license fees totaled $9.52 million, up from $3.50 million for the same period year-over-year, representing an increase of $6.01 million, or 171.6%.

•Gross margin increased to 59.3% compared to 34.1% in the same period a year ago.

•Operating income increased to $5.42 million as compared to an operating loss of $5.95 million in the same period a year ago.

•EBITDA totaled $4.07 million, or $0.12 per diluted share, versus an EBITDA loss of $3.04 million, or a loss of ($0.11) per diluted share, in the same period a year-ago.

Najeeb Ghauri, NetSol Technologies chairman and chief executive officer, commented: “We are very pleased with our performance in the third fiscal quarter, highlighted by a 78% increase in our sales versus the same period a year ago and a return to quarterly profitability for the first time in six quarters. It is our aim to finish the year completely profitable on the fiscal year analysis. Our financial results continue to deliver material improvements in every major metric of financial health, and we are optimistic about future outlook.”

He continued, “Our efforts to invest in our core NetSol Financial Suite (NFS)(TM) throughout the global economic downturn has well positioned the company to leverage the upturn in customer activity that we continue to see, particularly in China and APAC region in general. We enter the end of our fiscal year 2010 with the most positive momentum in the company’s recent history and we see increased interest among our major customers as well as new potential partners in the sector. Additionally, we see excellent opportunities for collaboration and strategic initiatives as we head to the conclusion of the fiscal year 2010.”

Recent Business Highlights include:

•NetSol Technologies North America announced the formal launch of smartOCI(TM), a SAP-Compatible Multiple-Catalog Search Engine. The launch will be on May 17, 2010, at the SAP SAPPHIRE Conference in Orlando, Florida, targeting approximately 1,000 SAP SRM platform customers. smartOCI(TM) will be sold on subscription basis with the software delivered as a Software as a Service (SaaS) model.

•NetSol Technologies and Atheeb Group formally launched Atheeb NetSol Limited, a new entity joint venture in the Kingdom of Saudi Arabia. The Atheeb NetSol limited joint venture is focused on market development opportunities around penetrating the software engineering arena in key business sectors such as telecommunications, defense, public sectors and finance, among others.

•NetSol Technologies signed a new agreement with a Chinese finance company that has a major European bank and a multi-billion dollar Chinese financial services group as partners. The client selected NetSol’s NFS BI Module, a unique end-to-end Business Intelligence offering.

•A FORTUNE 50 client upgraded the NetSol Technologies LeasePak License. The highly scalable LeasePak solution offers North American clients the ability to scale from a core platform via modular components.

•NetSol Technologies Thailand won a major contract for the NetSol Financial Suite(TM).

•NetSol Technologies, Ltd. Pakistan has parlayed its reputation as a quality IT company into participation in three new pre-qualified bids in the public sector.

•NetSol Technologies North America downsized its office space from Emeryville to Alameda in California, saving an estimated $5.0 million over the next five years.

NetSol will host a conference call today at 11:00 a.m. ET (8:00 a.m. PT) to review the quarterly financial and operational performance. Najeeb Ghauri, NetSol Technologies chairman and chief executive officer, will host the call.

Investors and prospective investors are invited to participate in the call by dailing (877) 941-1429, or (480) 629-9666 for international calls, approximately 10 minutes prior to the scheduled start time. Interested parties can also listen via a live Internet webcast, which can be found at the Company’s website at http://www.netsoltech.com.

A replay of the call will be available for two weeks from 2:00 p.m. May 12, 2010, EDT until 11:59 p.m. EDT on May 26, 2010. The number for the replay is (800) 406-7325, or (303) 590-3030 for international calls; the pass code for the replay is 4294953. A recording of the call will also be available via the Company’s website at http://www.netsoltech.com for one year.

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