NetSuite fourth quarter better than expected

NetSuite, an enterprise software as a service company, reported a fourth quarter profit excluding charges--its first ever.

The company reported a net loss of $4.5 million, or 7 cents a share, on revenue of $41.4 million, up 30 percent from a year ago. Excluding noncash charges, NetSuite had a profit of $534,000, or a penny a share. Wall Street was expecting a loss of a penny a share.

For the year, NetSuite reported revenue of $152.5, up 40 percent from 2007, with a loss of $15.9 million, or 26 cents a share (statement).

By the numbers:

• Revenue from the Americas was $123.4 million with international sales of $29.1 million.
• NetSuite added 350 new customers and ended with 6,600 active companies.
• The company ended the year with $123.6 million, compared to $169.4 million a year ago.
• Accounts receivables were $26.7 million as of Dec. 31, up from $18.7 million at the end of 2007.

In a statement, NetSuite CEO Zach Nelson said the quarter was its "best to date."