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.
NetSuite results show $0.13 loss per share
NetSuite show GAAP basis loss but has record take up in a quarter of its package OneWorld
Accountancy Age, 05 Nov 2009
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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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