11% Sequential Quarterly Revenue Growth With All-Time Record
Operating Cash Flows; Ness Expands Scope of Previously Announced Q4
Restructuring of Selected Operations; Company Poised for Growth in
2010 HACKENSACK, New Jersey, February 3 /PRNewswire-FirstCall/ --
Ness Technologies, Inc.
(NASDAQ:NSTCNASDAQ:andNASDAQ:TASE:NASDAQ:NSTC), a global provider
of IT services and solutions, today announced financial results for
the quarter and full year ended December 31, 2009. Fourth Quarter
and Full Year 2009 Highlights: - The company delivered sequential
revenue growth in all segments, supported by sequential bookings
growth. - The company significantly expanded the scope of its
previously announced fourth quarter restructuring activities,
recording a charge for restructuring, severance and related project
costs of $17.5 million compared to its previously stated
expectations of $7 to $9 million, as it reorganized, reduced, sold
or closed selected smaller operations that were unprofitable or
that it determined were not strategic to its planned future
operations and growth; and it also wrote off a deferred tax asset
of $4.1 million. - Results are not comparable to previously
provided guidance, as they exclude $7 million of 2009 revenues and
$0.02 of 2009 diluted net earnings per share, which were
reclassified as discontinued operations following the sale of the
company's operations in the Netherlands. - On a GAAP basis: -
Quarterly revenues were $145.9 million, up 11% sequentially and
down 13% year-over-year; and full year revenues were $547.4
million, down 17%, about one third of which was due to foreign
exchange re-measurement effects on non-dollar revenues. - Quarterly
operating loss was $16.5 million, compared to income of $5.3
million in the fourth quarter of 2008; and full year operating loss
was $9.4 million, compared to income of $49.2 million in 2008. -
Quarterly net loss from continuing operations was $23.4 million,
compared to income of $4.2 million in the fourth quarter of 2008;
and full year net loss from continuing operations was $20.4
million, compared to income of $34.9 million in 2008. - Quarterly
diluted net loss per share from continuing operations was $0.61,
compared to earnings of $0.11 in the fourth quarter of 2008; and
full year 2009 diluted net loss per share was $0.53, compared to
earnings of $0.88 in 2008. - On a non-GAAP basis [1]: - Quarterly
operating income from continuing operations was $5.7 million, up
15% sequentially and down 52% year-over-year; while full year
operating income was $21.8 million, down 56% year-over-year. -
Quarterly net income from continuing operations was $3.4 million,
up 7% sequentially and down 63% year-over-year; while full year net
income was $13.6 million, down 63% year-over-year. - Quarterly
diluted net earnings per share from continuing operations were
$0.09, compared to $0.23 in the fourth quarter of 2008; while full
year diluted earnings per share were $0.35, compared to $0.93 in
2008. - Operating cash flows for the quarter and the full year were
all-time records of $25.8 million and $60.2 million, respectively.
- Cash, cash equivalents and short-term bank deposits reached $71.9
million as of December 31, 2009, up $13.2 million from December 31,
2008. - Backlog as of December 31, 2009 was $650 million, up 1%
sequentially in constant currencies, net of discontinued
operations, and down 12% year-over-year. - Headcount was
approximately 7,835 as of December 31, 2009. "2009 was not an easy
year for Ness, but we emerged from it strengthened in several
important ways," said Sachi Gerlitz, president and chief executive
officer of Ness Technologies. "First, we delivered sequentially
higher revenues in all operating segments in the quarter,
indicating that we are back on a growth path. Second, excluding the
cost of the restructuring, we showed sequential improvement in
operating margins in all segments. And third, we are better
prepared for 2010, having undertaken an important restructuring
effort in the fourth quarter in which we dealt with several
unprofitable or non-strategic delivery operations - thereby
removing a drag on our performance. Our optimism for 2010 is
supported by our improved book-to-bill ratio and by our resumption
of backlog growth." - Results by operating segment: - The company's
Software Product Engineering segment, which provides outsourced
software product research and development services to companies who
build or rely on software to generate revenues, continued to
perform well in the fourth quarter, with solid operating margins on
revenues that are beginning to ramp up again. - The company's
System Integration and Application Development segment showed
sequential improvement in revenues and non-GAAP operating margins,
as bookings increased and the pipeline grew. On a GAAP basis,
segment results were affected by the restructuring charges. - The
company's Software Distribution segment, which resells third-party
enterprise software licenses, was expected to perform well in its
seasonally strong fourth quarter. Although revenues and non-GAAP
operating margins increased sequentially, the results were below
expectations as large license deals in this economically sensitive
segme nt continued to be deferred. The company took action in the
fourth quarter to adjust fixed costs, and, as a result, incurred
restructuring charges in this segment as well. "We continued to
deliver excellent operating cash flows, despite the tough economic
climate, thanks to strong customer relationships and effective
collections efforts," said Ofer Segev, executive vice president and
chief financial officer. "The strength of our balance sheet and
cash flows allowed us to reduce our short-term debt, bringing our
net debt to essentially zero. With the restructuring largely behind
us, our strong balance sheet positions us well for growth going
forward." Business Outlook The company believes the overall
economic outlook is improving, though some uncertainties remain.
Ness expects top line growth and margin expansion in 2010, with a
trend of sequentially increasing quarterly revenues and operating
margins, except for the third quarter, which is expected to be
similar to the second quarter due to the effect of holiday and
vacation seasonality. Ness is establishing full year 2010 guidance
for revenues in the range of $575 million to $585 million and
diluted net earnings per share in the range shown in the
reconciliation table below: Full year diluted net earnings per
share ($) Low High GAAP
basis..............................................$ 0.21 $ 0.25
Stock-based compensation; amortization of intangible assets;
earn-out related to prior-year acquisition........0.22 0.22
Non-GAAP basis..........................................$.0.43 $
0.47 The company's 2010 GAAP guidance excludes any future
acquisitions or stock-based compensation grants; and the company's
GAAP and non-GAAP guidance further assumes that outstanding diluted
shares will average approximately 39.5 million in 2010 and that
foreign currency exchange rates will remain at their average levels
for January 2010. For the reasons set forth elsewhere in this
release, Ness' management believes that non-GAAP earnings per share
financial guidance provides the best comparative basis for
investors to understand and assess the company's on-going
operations and prospects for the future. Goodwill Impairment Test
At the end of each calendar year, the company is required to
perform an impairment test on its goodwill. The 2009 test is under
way, and the company expects it will be completed by mid-March. If
the company determines any portion of goodwill is impaired, it
would recognize a non-cash charge that would impact GAAP earnings
and earnings per share for the quarter and year ended December 31,
2009. Such a charge would not impact the non-GAAP financial
information presented in this press release. Conference Call
Details Sachi Gerlitz, president and chief executive officer of
Ness Technologies, and Ofer Segev, executive vice president and
chief financial officer, will conduct a conference call to discuss
the fourth quarter and full year 2009 results. The call, which will
be simultaneously webcast, will begin at 8:30 AM Eastern Time /
5:30 AM Pacific Time on Wednesday, February 3, 2010. To access the
Ness Technologies fourth quarter and full year 2009 earnings
conference call, participants in North America should dial
1-800-399-0427 and international participants should dial
+1-973-200-3375. A live audio webcast of the conference call will
be available on the investor relations page of the Ness
Technologies corporate web site at http://investor.ness.com/.
Please visit the web site at least 15 minutes early to register for
the teleconference webcast and download any necessary audio
software. A replay of the call will be available on the web site
approximately two hours after the conference call is completed.
About Ness Technologies Ness Technologies
(NASDAQ:NSTCNASDAQ:andNASDAQ:TASE:NSTC) is a global provider of IT
and business services and solutions with specialized expertise in
software product engineering; system integration, application
development and consulting; and software distribution. Ness
delivers its portfolio of solutions and services using a global
delivery model combining offshore, near-shore and local teams. With
about 7,800 employees, Ness maintains operations in 18 countries,
and partners with numerous software and hardware vendors worldwide.
For more information about Ness Technologies, visit
http://www.ness.com/. Use of Non-GAAP Financial Information In
addition to reporting financial results in accordance with
generally accepted accounting principles, or GAAP, Ness uses
various non-GAAP measures of net income and earnings per share,
including adjustments from results based on GAAP to exclude (a)
non-cash stock-based compensation expenses in accordance with
Financial Accounting Standards Board (FASB) Accounting Standards
Codification Topic 718, Stock Compensation (formerly, FASB
Statement 123R) and amortization of intangible assets, net of
taxes; (b) a gain related to the sale of the company's Israeli SAP
sales and distribution operations in the third quarter of 2008, net
of related expenses and other charges, net of taxes; (c) a
write-down of the company's Israeli severance pay fund assets in
the fourth quarter of 2008, net of taxes; (d) an insurance
settlement in the first quarter of 2009 related to a 2007
arbitration expense, net of related expenses, net of taxes; (e)
severance expenses in the first quarter of 2009, net of taxes; (f)
an earn-out in the fourth quarter of 2009 related to a prior-year
acquisition; and (g) a charge in the fourth quarter of 2009 for
restructuring, severance and related project costs, net of taxes.
Ness' management believes the non-GAAP financial information
provided in this release is useful to investors' understanding and
assessment of Ness' on-going core operations and prospects for the
future. The presentation of this non-GAAP financial information is
not intended to be considered in isolation or as a substitute for
results prepared in accordance with GAAP. Management uses both GAAP
and non-GAAP information in evaluating and operating the business
internally and as such has determined that it is important to
provide this information to investors. Ness uses these non-GAAP
measures also in the formulation of its financial guidance. This
requires Ness management to make assumptions regarding certain
factors that could affect future net income and earnings per share,
such as the timing and size of future potential acquisitions (which
could result in additional non-cash amortization of intangibles),
the timing and size of future potential stock-based compensation
grants (which could result in additional non-cash stock-based
compensation expense), and the timing and size of any one-time
income or expenses. The company discloses such assumptions in
conjunction with its financial guidance. Forward Looking Statement
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements often are preceded by words such as
"believes," "expects," "may," "anticipates," "plans," "intends,"
"assumes," "will" or similar expressions. Forward-looking
statements reflect management's current expectations, as of the
date of this press release, and involve certain risks and
uncertainties. Ness' actual results could differ materially from
those anticipated in these forward looking statements as a result
of various factors. Some of the factors that could cause future
results to materially differ from the recent results or those
projected in forward-looking statements include the "Risk Factors"
described in Ness' Annual Report of Form 10-K filed with the
Securities and Exchange Commission on March 16, 2009. Ness is under
no obligation, and expressly disclaims any obligation, to update or
alter its forward-looking statements, whether as a result of such
changes, new information, subsequent events or otherwise. NESS
TECHNOLOGIES, INC. AND ITS SUBSIDIARIES CONDENSED CONSOLIDATED
STATEMENTS OF INCOME U.S. dollars in thousands (except per share
data) Three months ended Year ended December 31, December 31, 2008
2009 2008 2009 (Unaudited) (Unaudited) (Unaudited)
Revenues....................... $168,605 $145,907 $657,384 $547,352
Cost of revenues................ 120,604 116,009 470,009 410,794
Gross profit......................48,001 29,898 187,375 136,558
Selling and marketing.............15,184 14,781 55,806 49,323
General and administrative........27,498 31,652 100,706 101,750
Gain from sale of Israeli SAP sales and distribution operations,
net..... - - (18,366) - Insurance settlement related to 2007
arbitration expense, net of related expenses........... - - -
(2,610) Commissions related to the sale of Israeli SAP sales and
distribution operations........... - - - (2,534) Total operating
expenses..........42,682 46,433 138,146 145,929 Operating income
(loss)............5,319 (16,535) 49,229 (9,371) Financial expenses,
net...........(2,026) (884) (5,745) (3,404) Other expenses,
net.................. - - (392) - Income (loss) before taxes on
income.............................3,293 (17,419) 43,092 (12,775)
Taxes on income (tax benefit). .... (894) 6,024 8,147 7,633 Net
income (loss) from continuing operations.......................
$4,187 $(23,443) $34,945 $(20,408) Income (loss) from discontinued
operations (1)...................... 141 (1,560) 514 (1,183) Net
income (loss)................ $4,328 $(25,003) $35,459 $(21,591)
Basic net earnings (loss) per share from continuing operations.
$0.11 $(0.61) $0.89 $(0.53) Diluted net earnings (loss) per share
from continuing operations. $0.11 $(0.61) $0.88 $(0.53) Basic net
earnings (loss) per share............................. $0.11
$(0.65) $0.90 $(0.56) Diluted net earnings (loss) per
share............................. $0.11 $(0.65) $0.89 $(0.56)
Weighted average number of shares (in thousands) used in computing
basic net earnings (loss) per share..................39,429 38,436
39,321 38,598 Weighted average number of shares (in thousands) used
in computing diluted net earnings (loss) per
share..................39,543 38,838 39,674 39,100 (1) Includes
write-off of goodwill associated with discontinued operations in
the three months ended December 31, 2009. NESS TECHNOLOGIES, INC.
AND ITS SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME
U.S. dollars in thousands Three months ended Year ended December
31, December 31, 2008 2009 2008 2009 Segment Data (1) (2):
(Unaudited) (Unaudited) (Unaudited) Revenues from continuing
operations: Software Product Engineering $26,111 $26,248 $97,471
$102,523 System Integration and Application
Development.......128,273 110,521 500,295 413,328 Software
Distribution......... 14,221 9,138 59,618 31,501
________________________________________________________________________
$168,605 $145,907 $657,384 $547,352
________________________________________________________________________
Operating income (loss) from continuing operations: Software
Product Engineering. $3,915 $3,569 $10,358 $15,388 System
Integration and Application Development.........2,807 (9,951)
31,142 (3,585) Software Distribution....................3,105
(4,411) 21,422 (3,483) Unallocated
Expenses.......................(4,508) (5,742) (13,693) (17,691)
________________________________________________________________________
$5,319 $(16,535) $49,229 $(9,371)
________________________________________________________________________
Geographic Data (2): Revenues from continuing operations:
Israel....................... $53,529 $45,254 228,865 $174,800
Europe.........................64,259 49,435 222,300 174,767 North
America........................44,653 44,676 178,113 172,814 Asia
and the Far East............................6,164 6,542 28,106
24,971
________________________________________________________________________
$168,605 $145,907 $657,384 $547,352
________________________________________________________________________
(1) Effective October 1, 2008, the company reorganized its
reportable segments to correspond to its three primary service
lines. Prior period segment data has been reclassified to reflect
the current organization of the segments. (2) All periods have been
reclassified to exclude revenues and operating income (loss) from
operations discontinued during the three months ended December 31,
2009. Quarterly segment data for prior periods is shown below:
Three months ended March 31, June 30, September 30, Segment Data:
2008 2009 2008 2009 2008 2009 (Unaudited) (Unaudited) (Unaudited)
Revenues from continuing operations: Software Product
Engineering..... $20,529 $24,966 $24,739 $25,688 $26,092 $25,621
System Integration and Application Development....... 122,815
101,797 124,581 102,520 124,626 98,490 Software
Distribution.........14,630 8,043 19,300 7,410 11,467 6,910
_________________________________________________________________________
$157,974 $134,806 $168,620 $135,618 $162,185 $131,021
_________________________________________________________________________
Operating income (loss) from continuing operations: Software
Product Engineering..... $1,201 $4,114 $2,061 $4,096 $3,181 $3,609
System Integration and Application Development....... 10,054 2,073
8,230 2,302 10,051 1,991 Software Distribution............967 2,220
4,082 (510) 13,268 (782) Unallocated Expenses............ (2,246)
(5,156) (3,316) (3,893)(3,623) (2,900) $9,976 $3,251 $11,057
$1,995$22,877 $1,918 NESS TECHNOLOGIES, INC. AND ITS SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS U.S. dollars in
thousands Year ended December 31, 2008 2009 (Unaudited) Cash flows
from operating activities: Net income
(loss).......................................$35,459 $(21,591)
Adjustments required to reconcile net income (loss) to net cash
provided by operating activities: Stock-based compensation-related
expenses.......................................3,034 4,073 Currency
fluctuation of long-term
debt..............................................62 - Depreciation
and amortization..................................18,528 20,246
Arbitration settlement and related
charges...................................... (9,452) - Loss on
sale of property and equipment and impairment and sale of cost
investments........... 262 23 Gain from sale of Israeli SAP sales
and distribution operations,net........... (18,366) - Commissions
related to the sale of Israeli SAP sales and distribution
operations..................... - (2,534) Excess tax benefits
related to exercise of
options.........................................(296) - Impairment
of cost investment.......................................304 75
Decrease (increase) in trade receivables,
net..........................................(13,048) 43,988
Decrease in unbilled receivables...................................
6,769 12,324 Increase in other accounts receivable and prepaid
expenses......................................(1,942) (3,188)
Increase in work-in-progress.................................(84)
(3,286) Decrease in long-term prepaid
expenses.......................................1,793 631 Deferred
income taxes, net............................................4,384
2,116 Decrease in trade
payables......................................(8,501) (6,931)
Increase in advances from customers and deferred
revenues......................................10,601 13,868
Increase in other long-term
liabilities....................................1,581 492 Increase
in other accounts payable and accrued
expenses...............................1,847 3,381 Increase
(decrease) in accrued severance pay,
net............................................ 964 (3,466) Net
cash provided by operating
activities................................... 33,899 60,221 Cash
flows from investing activities: Net cash paid for acquisition of a
consolidated subsidiary..................... (29,039) - Proceeds
from sale of investment at
cost.............................................219 - Proceeds
from sale of Israeli SAP sales and distribution operations,
net........................................ 14,863 - Additional
payments in connection with acquisitions of subsidiaries in prior
periods................. (7,627) (18,526) Investment in short-term
bank deposits, net..........................................
(6,584) (19,257) Proceeds from sale of property and
equipment....................................... 346 819 Purchase
of property and equipment and capitalization of software developed
for internal use. (15,995) (12,287) Net cash used in investing
activities...................................(43,817) (49,251) Cash
flows from financing activities: Exercise of
options........................................4,317 - Repurchase
of shares........................................(2,389) (2,299)
Acquired subsidiary's dividend to its former
shareholder....................(10,048) (1,430) Excess tax benefits
related to exercise of
options......................................... 296 - Short-term
bank loans and credit,
net...........................................14,278 (17,480)
Proceeds from long-term
debt..........................................25,483 15,085
Principal payments of long-term
debt..........................................(3,134) (12,254) Net
cash provided by (used in) financing
activities....................................28,803 (18,378)
Effect of exchange rate changes on cash and cash
equivalents.........................(11,323) 100 Increase
(decrease) in cash and cash
equivalents....................................7,562 (7,308) Cash
and cash equivalents at the beginning of the
period.......................43,097 50,659 Cash and cash
equivalents at the end of the
period............................$50,659 $43,351 NESS
TECHNOLOGIES, INC. AND ITS SUBSIDIARIES CONDENSED CONSOLIDATED
BALANCE SHEETS U.S. dollars in thousands December December 31, 2008
31, 2009 (Unaudited) CURRENT ASSETS: Cash and cash
equivalents..................$50,659 $43,351 Restricted
cash...........................2,331 2,613 Short-term bank
deposits................... 5,703 25,939 Trade receivables, net of
allowance for doubtful accounts.................... 200,118 155,175
Unbilled receivables................. 35,585 28,414 Other accounts
receivable and prepaid expenses......... 31,344 36,442 Work in
progress.......................1,532 5,710 Total current
assets.......................327,272 297,644 LONG-TERM ASSETS:
Long-term prepaid expenses and other
assets.........................6,806 6,294 Unbilled
receivables................... 9,220 4,654 Deferred income taxes,
net........................... 8,356 6,174 Severance pay
fund..........................46,478 53,145 Property and equipment,
net.......................... 36,733 37,196 Intangible assets,
net...........................22,073 14,005
Goodwill.................... 290,055 299,557 Total long-term
assets.......................419,721 421,025 Total
assets..................... $746,993 $718,669 CURRENT LIABILITIES:
Short-term bank credit.......................$18,072 $500 Current
maturities of long-term debt.................7,089 21,332 Trade
payables......................47,072 36,897 Advances from customers
and deferred revenues.............33,280 47,023 Other accounts
payable and accrued expenses.............124,697 112,312 Total
current liabilities..................230,210 218,064 LONG-TERM
LIABILITIES: Long-term debt, net of current
maturities............60,973 50,836 Other long-term
liabilities....................6,444 6,689 Deferred income
taxes......................... 2,673 3,057 Accrued severance
pay...........................55,014 58,035 Total long-term
liabilities...... 125,104 118,617 Total stockholders'
equity.......................391,679 381,988 Total liabilities and
stockholders'equity.........$746,993 $718,669 NESS TECHNOLOGIES,
INC. AND ITS SUBSIDIARIES RECONCILIATION OF SUPPLEMENTAL NON-GAAP
FINANCIAL INFORMATION EXCLUDING STOCK-BASED COMPENSATION;
AMORTIZATION OF INTANGIBLE ASSETS; GAIN FROM SALE OF ISRAELI SAP
SALES AND DISTRIBUTION OPERATIONS, NET OF RELATED EXPENSES AND
OTHER CHARGES; WRITE-DOWN OF ISRAELI SEVERANCE PAY FUND
ASSETS;INSURANCE SETTLEMENT RELATED TO 2007 ARBITRATION EXPENSE,
NET OF RELATED EXPENSES; SEVERANCE EXPENSES; EARN-OUT RELATED TO
PRIOR-YEAR ACQUISITION; RESTRUCTURING AND RELATED PROJECT COSTS;
ALL NET OF TAXES U.S. dollars in thousands (except per share data)
Three months ended Year ended December 31, December 31, 2008 2009
2008 2009 (Unaudited) (Unaudited) (Unaudited) (Unaudited) GAAP
revenues.................. $168,605 $145,907 $657,384 $547,352
Write-off of trade receivables resulting from sale of Israeli SAP
sales and distribution operations...................... - - 3,155 -
Non-GAAP revenues................... $168,605 $145,907 $660,539
$547,352 GAAP gross profit...................... $48,001 $29,898
$187,375 $136,558 Stock-based compensation......................64
20 273 203 Amortization of intangible
assets...........................438 210 1,105 791 Write-off of
trade receivables resulting from sale of Israeli SAP sales and
distribution operations........................ - - 3,155 -
Severance expenses...........................- 380 - 1,346
Restructuring and related project
costs..............................- 11,058 - 11,058 Non-GAAP gross
profit.......................$48,503 $41,566 $191,908 $149,956 GAAP
operating income (loss)........................$5,319 $(16,535)
$49,229 $(9,371) Stock-based compensation.....................807
1,454 3,034 4,073 Amortization of intangible
assets.........................2,941 2,259 7,263 8,499 Earn-out
related to prior-year acquisition................. - 1,032 - 1,032
Gain from sale of Israeli SAP sales and distribution operations,
net............... - - (18,366) - Costs and expenses resulting from
sale of Israeli SAP sales and distribution operations and other
charges............................- - 5,631 - Write-down of
Israeli severance pay fund assets.........................2,929 -
2,929 - Insurance settlement related to 2007 arbitration expense,
net of related expenses....................... - - - (2,610)
Severance expenses...........................- 5,513 - 8,159
Restructuring and related project
costs..............................- 12,003 - 12,003 Non-GAAP
operating income.......................$11,996 $5,726 $49,720
$21,785 GAAP operating margin (loss)..........................3.2%
-11.3% 7.5% -1.7% Non-GAAP operating
margin..........................7.1% 3.9% 7.5% 4.0% GAAP net income
(loss) from continuing operations....................$4,187
$(23,443) $34,945 $(20,408) Stock-based compensation; amortization
of intangible assets; gain from sale of Israeli SAP sales and
distribution operations, net of related expenses and other charges;
insurance settlement in respect of 2007 arbitration expense, net of
related expenses; severance expenses; earn-out related to
prior-year acquisition; restructuring and related project costs;
all net of taxes......................... 5,018 26,833 1,773 34,055
Non-GAAP net income from continuing operations...................
$9,205 $3,390 $36,718 $13,647 GAAP diluted net earnings (loss) per
share from continuing operations.........$0.11 $(0.61) $0.88
$(0.53) Stock-based compensation; amortization of intangible
assets; gain from sale of Israeli SAP sales and distribution
operations, net of related expenses and other charges; insurance
settlement in respect of 2007 arbitration expense, net of related
expenses; severance expenses; earn-out related to prior-year
acquisition; restructuring and related project costs; all net of
taxes......................... 0.12 0.70 0.05 0.88 Non-GAAP diluted
net earnings per share from continuing operations.........$0.23
$0.09 $0.93 $0.35 [1] See "Use of Non-GAAP Financial Information"
below for more information regarding the company's use of non-GAAP
financial measures. Media Contact: David Kanaan Intl:
+972-54-425-5307 Email: Investor Relations Contact: Drew Wright
USA: +1-201-488-3262 Email: DATASOURCE: Ness Technologies Inc
CONTACT: Media Contact: David Kanaan, Intl: +972-54-425-5307,
Email: ; Investor Relations Contact: Drew Wright, USA:
+1-201-488-3262, Email:
Copyright
Ness (NASDAQ:NSTC)
Historical Stock Chart
From May 2024 to Jun 2024
Ness (NASDAQ:NSTC)
Historical Stock Chart
From Jun 2023 to Jun 2024