TechnologyNetsuite revenues climb 62% to $108.5m

Netsuite revenues climb 62% to $108.5m

Online business software group shows strong growth in first set of post-IPO numbers

Netsuite, the online business software group, grew by 62% as revenues climbed
to $108.5m (£55.2m) for the year ended 31 December 2007.

The results, the first released by the online vendor since its New York
listing last year, also showed 13% growth in the fourth quarter to hit $31.7m.

‘We head into 2008 with tremendous market, customer and product momentum, not
just in the U.S. but around the world,’ said Netsuite chief executive Zach
Nelson.

The group is predicting similar growth rates in 2008. First quarter revenues
are forecast to be around $33m and the group hopes to end 2008 with annual
revenues in the $153m to $156m range.

Further reading:

See
the full results here

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