February 14th, 2008
NetSuite's earnings on target
In its first earnings report since the IPO, NetSuite came in pretty much on analyst expectations for the final quarter of 2007. Compared to other SaaS providers Salesforce.com, Concur and Taleo, this is a middling performance although it indicates the SaaS market in the SMB space is holding up well. By the numbers:
- Analysts were expecting revenue at $30.5-32.0 million and NetSuite came in at $31.7 million, a 57 per cent increase over the fourth quarter of 2006 and a 13 per cent increase over the third quarter, 2007.
- Total revenue for the year was $108.5 million, a year over year increase of 62 per cent.
- The net loss for the fourth quarter on GAAP basis was $3.3 million or $0.22 per share compared to $8.1 million or $1.25 per share for the same period 2006.
- On a non-GAAP basis, which excludes stock compensation, NetSuite hit its expected $0.01 per share loss ($842,000). This compares with $3.9 million, or $0.07 per share loss in the comparable period of 2006, an improvement of 78 percent.
- Net loss on a non-GAAP basis for the year ended December 31, 2007 was $5.7 million, or $0.10 per share, compared to $20.4 million, or $0.36 per share, in 2006, an improvement of 72 per cent.
More to follow after the earnings call.
Dennis Howlett has been providing comment and analysis on enterprise software since 1991. See his full profile and disclosure of his industry affiliations.
Subscribe to Irregular Enterprise via Email alerts or RSS.
