The NetSuite company summed up the results of the first quarter 2008 (ended on March 31). Total income of the company was 34.1 million dollars that corresponds to growth by 47% in comparison with results of the first quarter of last year and for 8% in comparison with the last quarter. Losses of the company (on GAAP) made 2.0 million dollars that is 78% less, than in the I quarter 2007 when losses made 9.3 million dollars.
Revenues of NetSuite on quarters NetSuite Losses on quarters
(one million dollars) (one million dollars)
America (27.8 million dollars) remains the most profitable region. According to the developer, during the first quarter the customer base was replenished on 400 new companies, and to the NetSuite platform more than 1 million unique connections were registered.
Next quarter NetSuite expects to receive from 36.0 to 36.7 million dollars of income, and for all 2008 – from 154 to 157 million dollars. However, according to forecasts of the company, its business will still remain unprofitable.
Judging by falling of share value of the company, its financial progress did not impress investors. The price for an action at the time of closing of the exchange fell to the lowest mark from the moment of the December IPO and was 18.81 dollar.
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