2014 marks record fifth straight year of accelerating growth at Netsuite

InterAksyon.com

MANILA, Philippines — NetSuite Inc., the industry’s leading provider of cloud-based financials / ERP and omnichannel commerce software suites, recently announced operating results for its fourth quarter and fiscal year ended December 31, 2014.

Total revenue for the fourth quarter of 2014 was $157.9 million, representing a 37 percent increase over the prior year. Total revenue for the year was $556.3 million, a year-over-year increase of 34 percent.

Cash flow from operations was $20.9 million in the fourth quarter of 2014, an increase of $3.6 million, or 21 percent, over the same period last year. Cash flow from operations was $74.9 million for the year, an increase of $12.7 million, or 20 percent, over the prior year.

On a GAAP basis, net loss for the fourth quarter of 2014 was $25.3 million, or $(0.33) per share, as compared to a net loss of $20.2 million, or $(0.27) per share, in the fourth quarter of 2013. GAAP net loss for the year ended December 31, 2014 was $100.0 million, or $(1.31) per share, as compared to a GAAP net loss of $70.4 million, or $(0.95) per share, in 2013.

Non-GAAP net income for the fourth quarter of 2014 was $7.5 million, or $0.10 per share, as compared to non-GAAP net income of $6.2 million, or $0.08 per share, in the fourth quarter of 2013. Non-GAAP net income for the year ended December 31, 2014 was $25.0 million, or $0.32 per share, as compared to non- GAAP net income of $19.9 million, or $0.26 per share, in 2013.

“Our record results for the quarter and fiscal year 2014 contrast with the results announced by legacy on premise software companies as the cloud and NetSuite disrupt the business software landscape,” said NetSuite CEO Zach Nelson. “The fourth quarter of 2014 was our seventh consecutive quarter of more than 30% year-over-year recurring revenue growth. In addition, fiscal year 2014 represents a fifth consecutive year of accelerating recurring revenue growth, which, based on public disclosures, we believe is a record unmatched by any publicly-traded on-premise or cloud software company during the last five years.”

InterAksyon.com
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