NetSuite see record Q1 revenue of USD123.0m

NetSuite Inc. (NYSE: N) said its total revenue for the first quarter of 2014 was USD123.0m, representing a 34 percent increase over the same period in the prior year.

Cash flows from operations were USD19.1m in the first quarter of 2014, up from USD14.7m in the same period in the prior year.

On a GAAP basis, net loss for the first quarter of 2014 was USD22.2m, or USD(0.29) per share, as compared to a net loss of USD13.0m, or USD(0.18) per share, in the first quarter of 2013.

Non-GAAP net income for the first quarter of 2014 was USD4.4m, or USD0.06 per share, as compared to non-GAAP net income of USD2.8m, or USD0.04 per share, in the first quarter of 2013.

NetSuite Inc. is the industry´s provider of cloud-based financials / enterprise resource planning and omnichannel commerce software suites. Its website is at www.netsuite.com.

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