NETSUITE ANNOUNCES THIRD QUARTER 2009 RESULTS
Posts Fourth Consecutive Quarter of Non-GAAP Operating Income and Non-GAAP Net Income Generates Operating Cash Flow of $2.0 million, an Improvement of $5.4 Million Versus the Third Quarter of 2008 Highest Number of Sales of NetSuite OneWorld in a Single Quarter
SAN MATEO, Calif. (November 04, 2009) – NetSuite Inc. (NYSE: N), a leading vendor of cloud computing business management software suites, today announced operating results for its third quarter ended September 30, 2009.
Total revenue for the third quarter of 2009 was $41.7 million. Revenue from the Americas for the third quarter of 2009 was $34.7 million, while revenue from international regions was $7.0 million.
On a GAAP basis, net loss for the third quarter of 2009 was $8.0 million, or $(0.13) per share, as compared to a net loss of $6.2 million, or $(0.10) per share, for the third quarter of 2008.
Non-GAAP net income for the third quarter of 2009 was $348,000, or $0.01 per share, as compared to a non-GAAP net loss of $1.7 million, or $(0.03) per share, for the third quarter of 2008.
Items presented on a non-GAAP basis exclude expenses related to stock-based compensation, the amortization of intangible assets, and transaction costs for business combinations. A reconciliation of GAAP net income/(loss) to non-GAAP net income/(loss) is provided below in a table immediately following the Condensed Consolidated Statements of Operations, along with an explanation of why these non-GAAP financial measures are useful to investors and how they are used by management.
“We are very pleased to report record revenue and record cash flow, and to report our highest number of NetSuite OneWorld customer wins in any quarter,” said NetSuite CEO Zach Nelson. “Our customer wins and new SuiteCloud partnerships indicate customers are running from legacy applications like SAP and Microsoft Great Plains to NetSuite’s cloud computing offerings.”
NetSuite’s Third Quarter 2009 Highlights Include:
Announced that three technology companies that recently completed IPOs have chosen NetSuite to run key business processes: LogMeIn, OpenTable and SolarWinds.
Announced that Jollibee, one of the world’s largest fast-food chains, chose NetSuite OneWorld to manage subsidiaries and divisions across China, Vietnam and the U.S.
Partnered with Fujitsu to distribute, resell, and support NetSuite Release J, Japan’s first and only fully-localized, Software as a Service business management suite.
Launched NetSuite on the iPhone with support for dashboards, sales order records, customer records, click-to-call and more.
Integrated United States Postal Service shipping services with NetSuite, providing instant access to key USPS services, including price quotes, shipping label generation, package tracking numbers and customs documentation.
Source: NetSuite
