Summary:The fourth quarter of 2014 was NetSuite’s seventh consecutive quarter of more than 30 percent year-over-year revenue growth.
ERP provider NetSuite reported earnings and revenue Thursday after the bell, and the results were slightly higher than analyst expectations.
The company posted a fourth quarter net loss of $25.3 million, or 33 cents a share, on revenue of $157.9 million. Non-GAAP earnings for the fourth quarter were 10 cents per share.
Wall Street was expecting non-GAAP fourth quarter earnings of 10 cents a share on revenue of $155.4 million.
For 2014, NetSuite reported a net loss of $100 million, $1.31 per share, on revenue of $556.3 million, up 34 percent from a year ago.
In prepared remarks, NetSuite CEO Zach Nelson took a moment to brag about the company’s results in light of some less than stellar tech earnings that have come out recently:
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. The fourth quarter of 2014 was our seventh consecutive quarter of more than 30 percent year-over-year recurring revenue growth. In addition, fiscal year 2014 represents a fifth consecutive year of accelerating recurring revenue growth, which, based on public disclosures, we believe is a record unmatched by any publicly-traded on-premise or cloud software company during the last five years.
On a conference call following the earnings release, NetSuite said it expects revenue for the current quarter to be between $160 million and $162 million, below consensus of $162.6 million.
NetSuite also forecasts below consensus for the full year, expecting $715 million to $725 million, rather than the analyst estimate of $722.9 million.