Management Toolkit

NetSuite reports profitable fourth quarter

Elinor Mills CNET News

Published: 11 Feb 2009 08:36 GMT

Business management on-demand software provider NetSuite on Tuesday reported that its fourth-quarter revenue rose 30 percent from a year ago and its net loss shrank.

Excluding stock-related and other expenses, the company would have posted a profit of one cent per share for the quarter — its first profitable quarter on that basis, the San Mateo, California-based company said in a statement.

Analysts had estimated that the company would post a loss of one cent per share, excluding items, according to Reuters Estimates. Total revenue for the fourth quarter was $41.4m (£28.7m) and the net loss was seven cents per share, an improvement over the 22 cents-per-share loss a year earlier.

For the full year 2008, total revenue was $152.5m, up 40 percent from 2007 and the net loss was 26 cents per share, excluding items, compared to a loss of $2.45 a share the previous year. Including items, the net loss for the full year was four cents a share, down from 10 cents a share in 2007.

Credit: NetSuite bucks economic trends with profitable quarter from CNET News