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THE USUAL: NETSUITE REVS, LOSS UP Featured

Zach Nelson, NetSuiteThe standard NetSuite financial report was issued for the second quarter ended June 30. The net loss was $20.4 million, more than double the $9.9 red ink in last year's corresponding period. Revenue reached $101 million, up 35 percent from $74.7 million a year ago. However, like the first quarter and unlike what has happened for a couple of years, non-GAAP earnings fell, instead of rising.

 

That total was $4 million in the recently ended period, down from $4.8 million. What was normal was that the average selling price of products continued to rise. CEO Zach Nelson said it was more than 20-percent higher than a year earlier. The channel boomed with worldwide sales from that source up by more than 70-percent with the impact of important VARs such as McGladrey and Bytheco hitting the financial results. "Was you are seeing is ramp-up time end and the bookings begin to kick in," Nelson said. He added said NetSuite continues to increase more with SAP, not at enterprise headquarters, but rising sales to divisions and subsidiaries through two-tier implementations. Nelson said the company grew in EMEA, large at the expense of Sage, which he said markets a "Myriad, antiquated, non-cloud products."

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