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November 3, 2009

NetSuite Q3 revenue increases to $41.7m

Posts net loss of $8m, compared to $6.2m in same period last year

By CBR Staff Writer

NetSuite has reported revenues of $41.7m for the third quarter of 2009, compared to $40.4m for the same period last year. Revenue from Americas was $34.7m, while revenue from international regions was $7m.

Gross profit was $27.2m, an increase compared to $26.6m for the third quarter of 2008. Operating loss totalled $7.9m, an increase compared to $6m. Operating expenses for the quarter were $35.17m, an increase compared to $32.7m for the same period last year. General and administrative expenses increased to $8.3m from $6.42m.

For the third quarter ended September 30, 2009, the company has posted a net loss of $8.03m or EPS of $0.13 for the third quarter of 2009, compared to $6.24m or $0.10 for the same period last year.

Zach Nelson, CEO of NetSuite, said: We are very pleased to report record revenue and record cash flow, and to report our highest number of NetSuite OneWorld customer wins in any quarter. Our customer wins and new SuiteCloud partnerships indicate customers are running from legacy applications like SAP and Microsoft Great Plains to NetSuite’s cloud computing offerings.”

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