NetSuite bucks economic trends with profitable quarter
Business management software provider reports its fourth-quarter revenue rose 30 percent from a year ago and its net loss shrank.
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 1 cent per share for the quarter--its first profitable quarter on that basis, the San Mateo, Calif.-based company said in a statement.
Analysts had estimated that the company would post a loss of 1 cent per share, excluding items, according to Reuters Estimates. Total revenue for the fourth quarter was $41.4 million and the net loss was 7 cents per share, an improvement over the 22 cents per share loss a year earlier.
For the full year 2008, total revenue was $152.5 million, 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 4 cents a share, down from 10 cents a share in 2007.