NetSuite continues quarterly growth streak with solid Q4

The fourth quarter of 2014 was NetSuite's seventh consecutive quarter of more than 30 percent year-over-year revenue growth.
Written by Natalie Gagliordi, Contributor

ERP provider NetSuite reported earnings and revenue Thursday after the bell, and the results were slightly higher than analyst expectations.

The company posted a fourth quarter net loss of $25.3 million, or 33 cents a share, on revenue of $157.9 million. Non-GAAP earnings for the fourth quarter were 10 cents per share.

Wall Street was expecting non-GAAP fourth quarter earnings of 10 cents a share on revenue of $155.4 million.

For 2014, NetSuite reported a net loss of $100 million, $1.31 per share, on revenue of $556.3 million, up 34 percent from a year ago.

In prepared remarks, NetSuite CEO Zach Nelson took a moment to brag about the company's results in light of some less than stellar tech earnings that have come out recently:

Our record results for the quarter and fiscal year 2014 contrast with the results announced by legacy on-premise software companies as the cloud and NetSuite disrupt the business software landscape. The fourth quarter of 2014 was our seventh consecutive quarter of more than 30 percent year-over-year recurring revenue growth. In addition, fiscal year 2014 represents a fifth consecutive year of accelerating recurring revenue growth, which, based on public disclosures, we believe is a record unmatched by any publicly-traded on-premise or cloud software company during the last five years.

On a conference call following the earnings release, NetSuite said it expects revenue for the current quarter to be between $160 million and $162 million, below consensus of $162.6 million.

NetSuite also forecasts below consensus for the full year, expecting $715 million to $725 million, rather than the analyst estimate of $722.9 million.

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