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Netsuite Announces Fourth Quarter and Fiscal 2012 Financial Results - NetSuite Inc. (NYSE: N), the industry's leading vendor of cloud-based financials / ERP software suites, today announced operating results for its fourth quarter and fiscal year ended December 31, 2012 - NetSuite.com
Netsuite Announces Fourth Quarter and Fiscal 2012 Financial Results

 

NewswireToday - /newswire/ - San Mateo, CA, United States, 2013/01/31 - NetSuite Inc. (NYSE: N), the industry's leading vendor of cloud-based financials / ERP software suites, today announced operating results for its fourth quarter and fiscal year ended December 31, 2012 - NetSuite.com. NYSE: N; ORCL

   
 
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• Record Q4 Revenue of $85.0 Million, a 33% Year-over-Year Increase;
• Record 2012 Revenue of $308.8 Million, 31% Growth over Prior Year;
• 2012 Operating Cash Flow of $54.3 Million, 50% Growth over Prior Year.

Total revenue for the fourth quarter of 2012 was $85.0 million, representing a 33% increase over the prior year. Total revenue for the year was $308.8 million, a year-over-year increase of 31%.

Cash flow from operations was $13.4 million in the fourth quarter of 2012, an increase of $1.7 million, or 15%, over the same period last year. Cash flow from operations was $54.3 million for the year, an increase of $18.0 million, or 50%, over the prior year.

On a GAAP basis, net loss for the fourth quarter of 2012 was $9.6 million, or $(0.13) per share, as compared to a net loss of $7.6 million, or $(0.11) per share, in the fourth quarter of 2011. GAAP net loss for the year ended December 31, 2012 was $35.2 million, or $(0.50) per share, as compared to a GAAP net loss of $32.0 million, or $(0.48) per share, in 2011.

Non-GAAP net income for the fourth quarter of 2012 was $4.6 million, or $0.06 per share, as compared to non-GAAP net income of $3.4 million, or $0.05 per share, in the fourth quarter of 2011. Non-GAAP net income for the year ended December 31, 2012 was $19.1 million, or $0.26 per share, as compared to non-GAAP net income of $10.8 million, or $0.15 per share, in 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. "And we continue to put even more distance between us and our competitors with the introduction of new capabilities like NetSuite SuiteCommerce which transforms operational business systems into customer-facing commerce solutions."

Conference Call
In conjunction with this announcement, NetSuite will host a conference call at 2:00 pm. PST (5:00 pm. EST) today to discuss the Company's fourth quarter and fiscal 2012 financial results, and our outlook for the first quarter and fiscal 2013. A live audio webcast and replay of the call, together with detailed financial information, will be available in the Investor Relations section of NetSuite's website at netsuite.com/investors. The live call can be accessed by dialing 888-663-2241 (U.S.) or 913-312-1486 (outside the U.S.) and referencing passcode: 4228229. A replay of the call can also be accessed by dialing 888-203-1112 (U.S.) or 719-457-0820 (outside the U.S.), and referencing passcode: 4228229.

About NetSuite
NetSuite, Inc. (netsuite.com) is the industry's leading provider of cloud-based financials / Enterprise Resource Planning (ERP) software suites. In addition to financials/ERP software suites, NetSuite offers a broad suite of applications, including accounting, Customer Relationship Management (CRM), Professional Services Automation (PSA) and Ecommerce that enables companies to manage most of their core business operations in its single integrated suite. NetSuite's "real-time dashboard" technology provides an easy-to-use view into up-to-date, role-specific business information.

Cautionary Note Regarding Forward-Looking Statements
This press release and NetSuite's scheduled conference call contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 relating to, among other things, expectations, plans, prospects and financial results for NetSuite, including, but not limited to, our expectations regarding our products, market demand, future earnings, revenue and market share growth. These forward-looking statements are based upon the current expectations and beliefs of NetSuite's management as of the date of this press release and conference call, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. All forward-looking statements made in this press release and during the conference call are based on information available to us as of the date thereof, and NetSuite disclaims any obligation to update these forward-looking statements.

In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: the market for on-demand services may develop more slowly than expected or than it has in the past; continued adverse and unpredictable macro-economic conditions or reduced investments in on-demand applications and information technology spending; quarterly operating results may fluctuate more than expected; unexpected disruptions of service at one or more of our data centers may occur; a security breach may impact operations; risks associated with material defects or errors in our software or the effect of undetected computer viruses could impact operations; the risk of technological developments and innovations by others; our ability to successfully identify other businesses and technologies for acquisition that will complement our business and the ability to successfully acquire and integrate those businesses and technologies; the risk of loss of power or disruption in Internet service; failure to manage growth and effectively scale the organization; failure to protect and enforce our intellectual property rights; assertions by third parties that we infringe their intellectual property rights; the ability to manage operations when faced with competitive pricing and marketing strategies by competitors or changing macro-economic conditions; the risk of losing key employees; evolving government regulation of the Internet and Ecommerce; changes to current accounting rules; changes in foreign exchange rates, and general political or destabilizing events, including war, conflict or acts of terrorism; and other risks and uncertainties.

Customers who purchase our services should make sure the decisions are based on features that are currently available. Please be advised that any unreleased services or features from NetSuite referenced in today's discussion or other public statements are not currently available and may not be delivered on time or at all.

For a detailed discussion of these and other cautionary statements, please refer to the risk factors discussed in filings with the U.S. Securities and Exchange Commission ("SEC"), including but not limited to our Annual Report on Form 10-K filed on February 28, 2012, and any subsequently filed reports on Forms 10-Q and 8-K. All documents are available through the SEC's Electronic Data Gathering Analysis and Retrieval system ("EDGAR") at sec.gov or NetSuite's website.

Non-GAAP Financial Measures
Our stated results include certain non-GAAP financial measures, including non-GAAP operating income, net income, weighted average shares outstanding, and net income per share. Non-GAAP operating income and non-GAAP net income exclude expenses related to stock-based compensation expense, amortization of intangible assets, transaction costs for business combinations and costs associated with the settlement of a patent dispute. Non-GAAP operating income and non-GAAP net income exclude these expenses as they are often excluded by other companies to help investors understand the operational performance of their business, and in the case of stock-based compensation, can be difficult to predict. We believe these adjustments provide useful comparative information to investors.

We consider these non-GAAP financial measures to be important because they provide useful measures of our operating performance and are used by our management for that purpose. In addition, investors often use measures such as these to evaluate the operating performance of a company. Non-GAAP results are presented for supplemental informational purposes only for understanding our operating results. The non-GAAP results should not be considered a substitute for financial information presented in accordance with generally accepted accounting principles, and may be different from non-GAAP measures used by other companies.

A copy of this press release can be found on our Investor Relations website at netsuite.com/investors. The contents of the website are not incorporated by reference into this press release.

NetSuite and the NetSuite logo are service marks of NetSuite Inc.

 
 
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Netsuite Announces Fourth Quarter and Fiscal 2012 Financial Results

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NetSuite |
Publisher Contact: Mei Li - NetSuite.com 
650-627-1063 meili[.]netsuite.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any NetSuite, Inc. securities in any jurisdiction including any other companies listed or named in this release.

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