NetSuite delivered a solid fourth quarter with revenue handily topping expectations.
The cloud enterprise resource planning software company reported a fourth quarter loss of $7.6 million, or 11 cents a share, on revenue of $64.1 million, up 23 percent from a year ago. Non-GAAP earnings were 5 cents a share. Wall Street was expecting non-GAAP earnings of 4 cents a share on revenue of $63.4 million.
For 2011, NetSuite reported a loss of $32 million, or 48 cents a share, on revenue of $263.3 million.
In a statement, NetSuite CEO Zach Nelson said that the company was well positioned for 2012 as enterprise resource planning applications move to cloud computing.
By the numbers:
- NetSuite's fourth quarter subscription and support revenue was $54.2 million, up 23 percent from a year ago.
- Calculated billings in the fourth quarter were $78.7 million, up 36 percent from a year ago.
- The company delivered 2011 cash flow from operations of $36.3 million, up 99 percent from a year ago.
- NetSuite ended the year with $141.4 million in cash and equivalents.