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If You Squint, NetSuite Made Money

One has to take comfort where one can these days
By Maureen O'Gara
Article Rating:
February 11, 2009 11:15 PM EST
Reads:
 2,976

One has to take comfort where one can these days.

NetSuite, the Larry Ellison SaaS company competing with Salesforce.com, managed to eke out its first profitable quarter ever, up a penny a share in Q4 if you ignore the write-offs.

This development is apparently due to demand from multinationals for its NetSuite OneWorld, introduced last April to take on SAP.



Looked at from a GAAP perspective, NetSuite lost $4.5 million, seven cents a share, on revenue up 30.5% to $41.4 million, roughly about what it expects to do this quarter.

CEO Zach Nelson said new customers have started asking to pay their subscriptions monthly or quarterly to conserve cash but prices are also up 20% because users are adding more seats.

The company has 6,600 customers, up a thousand in 2008.

Published February 11, 2009 – Reads 2,976
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Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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