NetSuite 3Q revenues up 34%

NetSuite, Inc. (NYSE: N), the industry's leading provider of cloud-based financials/ERP and omnichannel commerce software suites, today announced results for its third quarter ended September 30, 2015.

Total revenue for the third quarter of 2015 was $192.8 million, representing a 34% increase over the same period in the prior year.

Cash flows from operations were $27.5 million in the third quarter of 2015, up from $16.3 million in the same period in the prior year.

On a GAAP basis, net loss for the third quarter of 2015 was $37.3 million, or $(0.47) per share, as compared to a net loss of $29.3 million, or $(0.38) per share, in the third quarter of 2014.

Non-GAAP net income for the third quarter of 2015 was $2.6 million, or $0.03 per share, as compared to non-GAAP net income of $8.3 million, or $0.11 per share, in the third quarter of 2014.

"NetSuite posted another great quarter following years of great quarters as we grew revenue year-over-year by 34 percent, our 13th consecutive quarter of more than 30 percent year-overyear revenue growth. Looking across all technology sectors – hardware, software and platforms – if you are a tech company that wasn't born on the Cloud as NetSuite was, you are in a world of trouble," said NetSuite CEO Zach Nelson.

NetSuite, Inc. is the industry's leading provider of cloud-based financials/ Enterprise Resource Planning (ERP) andomnichannel commerce software suites. In addition to financials/ERP and omnichannel commerce software suites, NetSuite offers a broad suite of applications, including financial management, ecommerce and retail management, commerce marketing automation, Professional Services Automation (PSA) and Human Capital Management (HCM) that enable companies to manage most of their core business operations in its single integrated suite. NetSuite software allows businesses to automate operations, streamline processes and access realtime business information anytime, anywhere.