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Home » NetSuite Revenue Grows 9% in 2009

NetSuite Revenue Grows 9% in 2009

By    MDM   Staff 
February 4, 2010 Comment (1)
More about:  Technology
Software company records a net loss for the fourth quarter and full year.
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NetSuite Inc. (NYSE: N), San Mateo, CA, a vendor of cloud computing business management software suites, announced revenue for the year was $166.5 million, an increase of 9% over last year. Revenue in the fourth quarter was $43 million.

Revenue from the Americas for the fourth quarter of 2009 was $35 million, while revenue from international regions was $8 million. NetSuite added 295 new customers in the fourth quarter. 
 
“In a year that saw many of our ERP competitors’ sales declined, NetSuite achieved record financial results,” said Zach Nelson, CEO of NetSuite. “Our 10-year headstart in delivering cloud computing business applications bodes well for us in 2010 as companies continue to move their core business applications from 1990’s style client-server offerings to NetSuite solutions that have cloud computing at their core.”
 
The software company reported a net loss for the fourth quarter of $6.5 million, compared with a net loss of $4.5 million in 2008. For the year ended Dec. 31, 2009, the company recorded a net loss of $23.3 million.
 

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  • Neil February 11, 2010 4:57 AM
    Netsuite Technology was booming in last year.. I think it will grow more in this year as well. The Netsuite SEO is also breaking the past records due to the new e-Commerce technology.
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