NetSuite posts smaller quarterly loss

The on-demand business software provider reports a boost in quarterly revenue and a smaller loss compared with the same quarter last year.

by Mike Ricciuti

May 1, 2008 1:45 PM PDT

NetSuite, the on-demand business software provider, on Thursday reported a boost in revenue and a smaller quarterly loss.

The company posted a first-quarter loss of $2 million, or 3 cents per share, compared with a loss of $9.3 million, or $1.24, in the same quarter last year. Revenue rose to $34.1 million from $23.2 million.

NetSuite said its net loss for the period, excluding one-time charges, was a penny a share. Analysts have been estimating NetSuite would post a loss of 2 cents a share for the quarter, and $33.5 million in revenue.

NetSuite CEO Zach Nelson

(Credit: Dan Farber/CNET Networks)

The company last month introduced OneWorld, which adds real-time management and consolidation capabilities for companies that are multinational or have multiple subsidiaries.

The company competes with Salesforce.com, SAP, Microsoft, and other companies in the market for on-demand business applications.