July 30th, 2009
NetSuite's second quarter better than expected
NetSuite on Thursday delivered second quarter financial results that were better than expected. The company also said it garnered higher prices.
The company reported a second quarter net loss of $5 million, or 8 cents a share, on revenue of $40.3 million, up 10 percent from a year ago. In the year ago quarter, NetSuite had a net loss of $3.1 million, or 5 cents a share.
Excluding items, NetSuite reported a second quarter non-GAAP profit of $687,000, or a penny a share. Wall Street was expecting NetSuite to break even.
In a statement, NetSuite CEO Zach Nelson said the company garnered more new customers the quarter at a higher average selling price.
Separately, NetSuite announced that Jollibee, a Filipino fast food chain, will implement the company’s OneWorld Suite. Jollibee’s 1,800 restaurants around the world including the U.S., Vietnam and China. NetSuite said the Jollibee roll-out will be completed in August.
Larry Dignan is Editor in Chief of ZDNet and Editorial Director of ZDNet sister site TechRepublic. See his full profile and disclosure of his industry affiliations.
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