NetSuite posts record profits in Q4 2008

NetSuite posts record profits in Q4 2008

NetSuite grows 30% in comparison to Q4 2007

Business management software vendors, Netsuite, posted its final quarter
figures for 2008 showing 30% growth in comparison to Q4 2007.

NetSuite revealed its first non-GAAP profit in Q4 2008, revealing total
revenue for the business was $152.2m (£106m).

Zach Nelson, chief executive officer at NetSuite said: ‘I’m delighted that
NetSuite delivered one of our best quarters to date in what has been a very
difficult economic environment. I am especially excited that we posted the first
non-GAAP profitable quarter in the company’s history even against the headwinds
of global economic challenges.

‘This is a strong performance in any quarter, and is especially impressive
with business spending on equipment and software falling 27.8%, the worst in a
half century’ he added.

On a GAAP basis there was a net loss in 2008 of $0.07 per share compared to
$0.22 per share in 2007.

Revenue from the Americas for 2008 totalled $123.4m while international
revenue accounted for $29.1m.

Further reading:

nFlow sees revenue boost from accountants

Related Articles

How the use of digital information exchange can revolutionise your practice

How the use of digital information exchange can revolutionise your practice

9h
An insight into working at EY

Career An insight into working at EY

12h Lucy Skoulding, Reporter
New technology advisory services partner at MHA MacIntyre Hudson

People In Practice New technology advisory services partner at MHA MacIntyre Hudson

12h Emma Smith, Managing Editor
FRC reports an “unacceptable deterioration” in KPMG audit quality

Audit FRC reports an “unacceptable deterioration” in KPMG audit quality

16h Alia Shoaib, Reporter
PwC bans all-male job shortlists in bid to tackle gender pay gap

Career PwC bans all-male job shortlists in bid to tackle gender pay gap

1d Lucy Skoulding, Reporter
It’s not just the potential of women at stake, it’s the potential of accountancy

Accounting Firms It’s not just the potential of women at stake, it’s the potential of accountancy

2d Jean Stephens, RSM International
Inclusive work experience at KPMG

Career Inclusive work experience at KPMG

2d Emily Sexton-Brown, HRD Connect
Four things we learned from AAT Annual Conference

Making Tax Digital Four things we learned from AAT Annual Conference

5d Emma Smith, Managing Editor