NetSol Posts Profit, Sales Gains in Q3

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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