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Microcap & Penny Stocks : NTWK OTC BB Netsol International Inc (Formerly MGHI)
NTWK 3.315-0.5%3:39 PM EDT

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From: QualityStocks7/14/2010 9:14:43 AM
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NetSol Technologies, Inc. (NTWK) Announces Rebound in North American Sales as Existing Customers Increase Orders

NetSol Technologies, Inc., a worldwide provider of global IT and enterprise application solutions, announced sales in North American related to enhancements to its LeasePak lease management solution have increased significantly from this year’s second quarter into the current quarter.

According to the press release, NetSol Technologies’ North American division has sold additional LeasePak licenses to a number of existing customers, including the finance arm of a large automotive manufacturing company. The company has also experienced a considerable increase in software upgrade revenue, which was credited to new functionality required by North American customers using the LeasePak and Wholesale Finance System.

Najeeb Ghauri, Chairman and CEO of NetSol, stated, “The increase in enhancement-related revenue suggests growing North American demand for our LeasePak product. As our major U.S.-based clients seek to upgrade their existing systems, we look forward to providing them with flexible, modular software solutions to meet their changing needs. We are very upbeat about the long-term outlook for NetSol’s products and services in the U.S. market.”

For more than three decades, LeasePak has been the lease, loan, and asset solution for leading banks, equipment lessors, commercial loan companies, and vehicle lessors throughout North America. LeasePak is a key component of NetSol Financial Suite’s end-to-end lifecycle solution.

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