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NetSol Technologies posts 1Q loss of $264,000
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CALABASAS, Calif. - Software maker NetSol Technologies Inc. said Thursday it lost $264,000 in the fiscal first quarter as revenue fell by a double-digit percentage.
The company, based in Calabasas, Calif., lost a penny per share in the quarter ended Sept. 30, compared with profit of $1 million, or 4 cents per share, a year earlier.
Revenue fell 18 percent to $7.6 million from $9.3 million.
CEO Najeeb Ghauri said revenue improved over the quarter immediately prior to the first quarter as license fees grew for its NetSol Financial Suite software.
NetSol shares fell 5 cents, or 4.9 percent, to 97 cents in afternoon trading.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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