NetSuite Posts First Profitable Non-GAAP Quarter
10 Febrero 2009 - 6:23PM
Noticias Dow Jones
NetSuite Inc. (N), which makes Web-based business software
tools, posted its first quarterly profit Tuesday.
The company posted net income for the quarter ended Dec. 31,
2008, of $534,000, or 1 cent per share, on a non-GAAP basis,
compared with a net loss of $842,000, or 1 cent per share in the
fourth quarter of 2007.
Wall Street was forecasting a loss per share of 1 cent,
according to data from Thomson Reuters.
Revenues rose 30.5% to $41.4 million.
On a GAAP basis, NetSuite posted a loss for the fourth quarter
of $4.5 million, or 7 cents per share.
San Mateo, Calif.-based NetSuite, which makes software that
enables small and mid-sized businesses to manage finance, competes
in the growing market for Web-based business applications, or
software-as-a-service, alongside San Francisco-based Salesforce.com
Inc. (CRM).
Larry Ellison, Chief Executive Officer of database and
applications giant Oracle Corp. (ORCL) is a major stockholder in
the company.
Netsuite's shares slumped in 2008 after its initial public
offering in December 2007, after launching at $26. On a
year-to-date basis shares are down 65%. They closed Tuesday up
0.25% at $7.89.
-By Jessica Hodgson, Dow Jones Newswires; 415-439-6455;
jessica.hodgson@dowjones.com