QualityStocks.net News – NetSol Technologies, Inc. (NTWK) Shares Up after News of Buyback

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We would like to highlight NetSol Technologies, Inc. (NASDAQ: NTWK). The company is a multinational provider of IT services and enterprise solutions to the financial services industry. By utilizing its worldwide IT design, development, quality assurance (QA), and project management resources, NetSol delivers high-quality, cost-effective portfolio management solutions for equipment and vehicle finance, as well as IT services ranging from consulting and application development to systems integration and development outsourcing.

In the Company’s news today,

Shares of NetSol Technologies, Inc. are up 9.80%, climbing 15 cents to close at $1.68 in Monday’s trading. Today, the company announced its board of directors has approved a share repurchase program authorization to buy back up to one million of its issued and outstanding common shares, effective March 24, 2008 through Sept. 24, 2008.

“NetSol’s board of directors’ approval of the new share repurchase program reflects the confidence it has in NetSol’s future and the value it sees in the company’s current share price. While we continue to focus on the strength of our balance sheet to provide financial flexibility to support our global growth initiatives aimed at expanding our IT services and enterprise software offerings, we believe this program offers NetSol the ability to opportunistically repurchase shares when market conditions are favorable,” Najeeb Ghauri, NetSol CEO and chairman stated in the press release.

“We believe that selectively repurchasing NetSol stock is one of the best investments we can make right now and that today’s announcement demonstrates NetSol’s commitment to enhancing long-term value for our shareholders,” he continued.

NetSol is a multinational provider of IT services and enterprise software to the financial services industry, offering cost-effective portfolio management solutions and various IT services. As of March 10, 2008, NetSol had approximately 25,238,818 ordinary shares outstanding.

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