NetSuite reported a better-than-expected fourth quarter as the company continues to land cloud ERP deals.
The company reported a fourth quarter loss of $9.6 million, or 13 cents a share, on revenue of $85 million, up 33 percent from a year ago. Non-GAAP earnings for the fourth quarter were 6 cents a share.
Wall Street was expecting fourth quarter earnings of 4 cents a share on revenue of $83.04 million.
For 2012, NetSuite reported a net loss of $35.2 million, or 50 cents a share, on revenue of $308.8 million, up 31 percent from a year ago. Non-GAAP earnings for 2012 were 26 cents a share.
In a statement, NetSuite CEO Zach Nelson took aim at rivals Microsoft and SAP and noted "more large enterprises moved to the cloud."
For 2013, NetSuite projected revenue of $397 million to $402 million, but noted it would be expanding aggressively. Earnings for 2013 will be between 2 cents a share to 3 cents a share on a non-GAAP basis. Nelson noted that NetSuite will be adding salespeople and offices.
Wall Street was expecting earnings of 31 cents a share on revenue of $396.4 million.
Key points from NetSuite's conference call and Nelson: