Company: NTWK
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010127
Chunk: 67

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 67
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.5%

    Net
    income before income taxes 
     1,578,698  
     3.3% 
     2,008,265  
     4.5%
  
    Income
    tax provision 
     (712,765) 
     -1.5% 
     (418,517) 
     -0.9%
  
    Net
    income 
     865,933  
     1.8% 
     1,589,748  
     3.5%
  
    Non-controlling
    interest 
     (518,212) 
     -1.1% 
     (822,993) 
     -1.8%
  
    Net
    income attributable to NetSol 
    $347,721  
     0.7% 
    $766,755  
     1.7%

    Net
    income per share: 

    Net
    income per common share 

    Basic 
    $0.03  
        
    $0.07  

    Diluted 
    $0.03  
        
    $0.07  

    Weighted
    average number of shares outstanding 

    Basic 
     11,531,365  
        
     11,369,778  

    Diluted 
     11,531,365  
        
     11,409,383  

Page 44

A
significant portion of our business is conducted in currencies other than the U.S. dollar. We operate in several geographical regions
as described in Note 15 “Operating Segments” within the Notes to the Condensed Consolidated Financial Statements. Weakening
of the value of the U.S. dollar compared to foreign currency exchange rates generally has the effect of increasing our revenues but also
increasing our expenses denominated in currencies other than the U.S. dollar. Similarly, strengthening of the U.S. dollar compared to
foreign currency exchange rates generally has the effect of reducing our revenues but also reducing our expenses denominated in currencies
other than the U.S. dollar. We plan our business accordingly by deploying additional resources to areas of expansion, while continuing
to monitor our overall expenditures given the economic uncertainties of our target markets. In order to provide a framework for assessing
how our underlying businesses performed excluding the effect of foreign currency fluctuations, we