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
“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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