NetSol Technologies: Hits 18-month low after posting quarterly loss

Netsol Technologies

12/11/2019 16:47

** Financial software solution provider's shares  NTWK.O 
drop ~19% to hit an 18-month low of $4.63 
    ** Set for its worst day in six years, if losses hold; stock
third biggest pct loser on Nasdaq 
    ** Co posts Q1 loss of 16 cents/shr vs. a profit of 8
cents/shr a year ago
    ** Total revenue fell ~17% to $13.6 mln, dragged down by
licence fees and services revenue
    ** "The company's sales outlook remains under pressure due
to a slowdown in the general finance and leasing industry as
well as additional headwinds from the U.S. and China trade
discussions and their effect on the overall auto industry" -
NTWK
    ** Stock down ~24% YTD 

 (Reporting by C Nivedita in Bengaluru)
 ((C.Nivedita@thomsonreuters.com))