Estimated reading time: 1 minute, 2 seconds

NETSUITE REVS AND CHANNEL STRONG

Zach Nelson, NetSuiteNetSuite’s results for the second quarter ended June 30 following the same formula we have seen now in several periods – revenue up nicely, a slight increase in GAAP loss and a good increase in non-GAAP earnings. And toss in the usual bashing of the competition. But you might want to add that channel revenue grew by 50 percent.
CEO Zach Nelson said, “The indirect channel is a great story in North America. The indirect channel grew faster than the direct” in producing revenue. As to results, the loss grew to $9.9 million in the most recently ended period, up from $9.8 million in last year’s corresponding period. But it is clear what Wall Street values is the non-GAAP income, which hit $4.8 million for the quarter, up sharply from $1.6 million a year earlier. Revenue rose to $74.7 million, an increase of 29.2 percent from $69.3 million in the second quarter of 2011. Apparently to its surprise, the company had a 29-percent increase in average selling price. That measure had risen so much in 2011 that NetSuite wasn’t looking for a lot. But larger customers and customers who bought more modules pushed the ASP up. Based on the brisk half, the company raised its revenue forecast to $300 million to $305 million from the previous $295 million to $300 million.

Read 1787 times
Rate this item
(0 votes)

Visit other PMG Sites:

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.