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05 Nov 2009
Online financial software company, NetSuite, has posted a net loss of $8m (£4.8m) on a GAAP basis.
The decline in the third quarter of 2009 equates to $0.13 per share compared to a net loss of $6.2m or $0.10 per share for Q3 2008.
On a non-GAAP basis the net income for Q3 2009 was $348,000 or $0.01 per share compared to a non-GAAP net loss of $1.7m or $0.03 per share for the third quarter of 2008.
NetSuite did show record take in any quarter up of its software package NetSuite OneWorld.
"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.
He added: “Our customer wins and new SuiteCloud partnerships indicate customers are running from legacy applications."
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Briefings
By looking at the reasons supplier statements became unfashionable, and the reasons why it is different today, this paper delves into the many benefits that can be obtained by automating the process.
Having a real and true view of your organisation’s current financial position, and having the right systems and processes in place, will ensure that you can make strong choices and are ready to capitalise on opportunities
AccountancyAgeInsight is a frequently updated resource centre for finance professionals, offering a free and easy-to-use digital library of briefings, white papers and other information resources. 
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