- Record Q3 Revenue of $106.9 Million, a 34% Year-over-Year Increase
- Quarterly Operating Cash Flows of $14.6 Million
SAN MATEO, Calif. -- NetSuite Inc. (NYSE: N), the industry's leading provider of cloud -based financials / ERP software and omnichannel commerce software suites, today announced results for its third quarter ended September 30, 2013.
Total revenue for the third quarter of 2013 was $106.9 million, representing a 34% increase over the same period in the prior year.
Cash flows from operations were $14.6 million in the third quarter of 2013, down from $15.2 million in the same period in the prior year.
On a GAAP basis, net loss for the third quarter of 2013 was $16.8 million, or $(0.23) per share, as compared to a net loss of $8.0 million, or $(0.11) per share, in the third quarter of 2012.
Non-GAAP net income for the third quarter of 2013 was $6.9 million, or $0.09 per share, as compared to non-GAAP net income of $5.7 million, or $0.08 per share, in the third quarter of 2012.
"This week has been a tale of two companies as NetSuite's Q3 revenue set a new record, while SAP effectively exited the business of providing software for mid-sized companies as they scale back their Business By Design product, which they once hyped as a NetSuite killer," said Zach Nelson, CEO of NetSuite. "These two divergent results show that as mission-critical software moves to the Cloud, it is far safer for customers to turn to committed leaders like NetSuite rather than bet on the PowerPoint presentations of last-generation providers like SAP, Microsoft and Sage."
In conjunction with this announcement, NetSuite will host a conference call at 2:00 p.m. PDT (5:00 p.m. EDT) today to discuss our third quarter 2013 financial results and our outlook for the fourth quarter of 2013 and full year 2013. A live audio webcast and replay of the call, together with detailed financial information, will be available in the Investor Relations section of NetSuite's website at www.netsuite.com/investors . The live call can be accessed by dialing 855-812-1881 (U.S.) or 817-385-7868 (outside the U.S.) and referencing passcode: 85770631. A replay of the call can also be accessed by dialing 855-859-2056 (U.S.) or 404-537-3406 (outside the U.S.), and referencing passcode: 85770631.
NetSuite Inc. is the industry's leading provider of cloud-based financials / Enterprise Resource Planning (ERP) and omnichannel commerce software suites. In addition to financials/ERP software suites, NetSuite offers a broad suite of applications, including accounting, Customer Relationship Management (CRM), Professional Services Automation (PSA) and Ecommerce that enables companies to manage most of their core business operations in its single integrated suite. NetSuite software allows businesses to automate operations, streamline processes and access real-time business information anytime, anywhere. For more information about NetSuite, please visit www.netsuite.com .