NetSol Technologies, Inc. (NTWK) Reports Q1 Loss of $0.03, Announces Buyback Plan & Q2 Guidance

November 8, 2011 9:01 AM EST
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NetSol Technologies, Inc. (NASDAQ: NTWK) reported Q1 EPS of ($0.03), versus $0.04 reported last year. Revenue for the quarter came in at $6.2 million, versus $8.4 million reported last year.

NetSol also announced today that its Board of Directors has approved a program authorizing the repurchase of up to 2.5 million shares of the company's common stock over a period of up to six months.

NetSol expects sequential revenue growth of 15 to 20 percent between the first and second quarter of fiscal 2012. The company also anticipates improvement in its bottom line for the second quarter and providing quarterly guidance once the global economic environment improves.

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