NetSuite reports on reduction of losses

Total income of NetSuite in the fourth quarter was 2007 31.7 million dollars, is 57% higher, than for the same period of 2006 and 13% above, than in the III quarter 2007. The company in the IV quarter suffered losses in the amount of 3.3 million dollars (GAAP) that it is less, than losses of the last quarter 2006, which sostavyal of 8.1 million dollars.

Revenues of NetSuite in the IV quarter 2007

($ million)

Source: data of company NetSuite

The total revenues of 2007 were 108.5 million dollars that, according to the developer, is 62% higher than result for 2006. Losses of 2007 in general (on GAAP) made 23.9 million dollars whereas losses of 2006 made 35.7 million dollars.

Revenues of NetSuite in 2007

($ million)

Source: data of company NetSuite

Nevertheless, even with such results, according to Zach Nelson, the CEO of NetSuite company, this year became the best for all history of the company on all indicators. According to him, the company successfully wins the market and purchases new clients not only in America which provided the companies of 89.3 million dollars of a full-year income, but also beyond its limits (19.2 million dollars). According to the management, in the fourth quarter NetSuite filled up the customer base on 430 companies, and by the end of the year her clients are 5,600 companies.

In the first quarter 2008 the company expects to gain income in the amount of 33-34 million dollars, and losses should be reduced to 1.5, and at successful business development and to 0.5 million dollars. In general for 2008 NetSuite expects to receive 153-156 million dollars, and losses are predicted in the amount of 2.5 to 0.5 million dollars.