NetSuite Beats On Q4 Revenue, EPS Meets Expectations
NetSuite Inc (NYSE: N) announced operating results Thursday for its fourth quarter and fiscal year ended December 31, 2014.
Total revenue for the fourth quarter of 2014 was $157.9 million, above estimates of $155.37, a 37 percent increase over the prior year.
Cash flow from operations was $20.9 million in the fourth quarter of 2014, an increase of $3.6 million, or 21 percent, over the same period last year.
Non-GAAP net income for the fourth quarter of 2014 was $7.5 million, or $0.10 per share, inline with estimates and above the $6.2 million, or $0.08 per share, reported in the fourth quarter of 2013.
On a GAAP basis, net loss for the fourth quarter of 2014 was $25.3 million, or $(0.33) per share, as compared to a net loss of $20.2 million, or $(0.27) per share, in the fourth quarter of 2013.
Total revenue for the full year of 2014 was $556.3 million, a year-over-year increase of 34 percent.
Cash flow from operations was $74.9 million for 2014, an increase of $12.7 million, or 20 percent, over the prior year.
Non-GAAP net income for 2014 was $25.0 million, or $0.32 per share, as compared to non-GAAP net income of $19.9 million, or $0.26 per share, in 2013.
GAAP net loss for 2014 was $100.0 million, or $(1.31) per share, as compared to a GAAP net loss of $70.4 million, or $(0.95) per share, in 2013.
"Our record results for the quarter and fiscal year 2014 contrast with the results announced by legacy on-premise software companies as the cloud and NetSuite disrupt the business software landscape," said NetSuite CEO Zach Nelson.
NetSuite Inc traded at $106.96 in the after hours session, up 0.01 percent.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.