NETSUITE ANNOUNCES SECOND QUARTER 2016 FINANCIAL RESULTS
| · Q2 Revenue of $230.8 Million, a 30% Year-over-Year Increase |
| · Q2 Operating Cash Flows of $36.7 Million, a 53% Year-over-Year Increase |
Singapore – August 1, 2016—NetSuite Inc. (NYSE: N), the industry’s leading provider of cloud-based financials / ERP and omnichannel commerce software suites, today announced results for its second quarter ended June 30, 2016.
Total revenue for the second quarter of 2016 was $230.8 million, representing a 30% increase over the same period in the prior year.
Cash flows from operations were $36.7 million in the second quarter of 2016, a 53% increase over the same period in the prior year.
On a GAAP basis, net loss for the second quarter of 2016 was $37.7 million, or $(0.47) per share, as compared to a net loss of $32.3 million, or $(0.41) per share, in the second quarter of 2015.
Non-GAAP net income for the second quarter of 2016 was $6.6 million, or $0.08 per share, as compared to a non-GAAP net income of $1.7 million or $0.02 per share, in the second quarter of 2015.
Conference Call Details
As a result of the earlier announcement that Oracle plans to purchase NetSuite, the conference call previously scheduled to discuss NetSuite’s financial results has been canceled.
About NetSuite
NetSuite Inc. is the industry’s leading provider of cloud-based financials / Enterprise Resource Planning (ERP) and omnichannel 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 and Professional Services Automation (PSA) 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 real-time business information anytime, anywhere. For more information about NetSuite, please visit www.netsuite.com.sg.
