We can agree that last year's revenue total of $414.5 million, coming in at 34 percent more than $308.8 million a year earlier, was awfully good, good enough the company raised the 2014 revenue guidance from the prior range of $525 million to $535 million to a range of $535 million to $540 million. Nelson said all regions were cooking, including a pleasing upturn in EMEA, double the prior year. Channel revenue rose by 40 percent with the growth rate accelerating over the prior year. In the fourth quarter, NetSuite added 430 customers, the best quarterly total since the company went public in 2007. The company's march upstream also continued. The average selling price grew by 20 percent with OneWorld producing the most customer adds. Asked if customers of one billion dollars represented a limit, Nelson replied, "I don't see a billion dollars as a limit. We continue to move up. I don't see that stopping over size." To support growth, NetSuite will continue hiring in sales, engineering and marketing. And it is opening a data center in Europe in 2015.
NETSUITE SALES BOOM; LOSS DOUBLES Featured
NetSuite CEO Zach Nelson is a generous guy. While reporting his company's results for the year ended December 31, he thanked those he said were responsible. In this week's earnings webcast, Nelson commented, "I feel I must thank our legacy EPP competitors as well. SAP and Microsoft, thank you for creating all this demand. Keep it up. Our data centers are standing by." That being said, the loss for 2013 was $70.4 million, compared to red ink of $35.2 million for 2012. Yes, yes, we know that's a GAAP loss and the company reported non-GAAP earnings of $19.9 million for the most recently ended year, up 4.2 percent from $19.1 million for the prior year.
