NetSuite Q4 net loss increases

NetSuite Inc, a provider of cloud-based financials/ERP software suites, has reported that net loss for the fourth quarter ended December 31, 2012 was $9.62 million, or $0.13 loss per share, compared to a net loss of $7.61 million, or $0.11 loss per share, for the same quarter ended December 31, 2011.

Total revenue for the fourth quarter ended December 31, 2012 was $85.01 million, compared to $64.09 million for the same quarter ended December 31, 2011.

Net loss for the year ended December 31, 2012 was $35.23 million, or $0.5 loss per share, compared to a net loss of $32.01 million, or $0.48 loss per share, for the year ended December 31, 2011.

Total revenue for the year ended December 31, 2012 was $308.82 million, compared to $236.33 million for the year ended December 31, 2011.

"In a year that saw Microsoft once again fail to deliver cloud-native ERP solutions, and in a quarter that saw SAP miss their most recent top- and bottom-line forecast as more large enterprises moved to the cloud, NetSuite delivered its best year ever," said NetSuite CEO Zach Nelson.