NetSol Technologies Inc. posted increases in both sales and profit for its third quarter, sending shares up nearly 10 percent Tuesday.


NetSol posted net income of $2.3 million (9 cents per share) a big turnaround from a loss of $229,000 (-1 cent per share) in the same period a year earlier.


Sales for the Calabasas-based software company increased 19 percent to $9.1 million.


The company credited the increased performance to additions to the management and sales teams "as well as investments in infrastructure," during the quarter, NetSol said in a statement.


Shares in NetSol gained 8 percent to $2.95 in early trading Tuesday.

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