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NetSuite's second quarter better than expected; Snags CA Technologies deal

NetSuite delivered better than expected second quarter results and won an implementation for one of CA Technologies' units.
Written by Larry Dignan, Contributor on

NetSuite delivered better-than-expected second quarter results and won an implementation for one of CA Technologies' units.

The on-demand ERP software provider reported a second quarter net loss of $7.2 million, or 11 cents a share, on revenue of $47.1 million, up 17 percent from a year ago. On a non-GAAP basis, NetSuite reported earnings of $1.9 million, or 3 cents a share. Wall Street was expecting earnings of a penny a share on revenue of $45.3 million. In a statement, NetSuite also said it was raising its 2010 outlook "substantially," but no further details were provided until the conference call. Wall Street is looking for non-GAAP earnings of 7 cents a share on revenue of $185 million.

By the numbers:

  • NetSuite had second quarter subscription and support revenue of $39.8 million, up 19 percent from a year ago. Services revenue was $7.31 million, up from $6.81 million a year ago.
  • Bookings were $48.2 million, the company's best tally ever.
  • The company had cash and equivalents of $98.2 million.

Earlier on Thursday, NetSuite said that CA Technologies implemented the company's OneWorld suite for its e-commerce software for recovery management and data modeling. The implementation covers 13,000 partners. NetSuite touted the win as proof that its software is suitable for large enterprises.

NetSuite has worked in the last year to bolster its channel to drive sales and more implementations.

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