Cloud computing business software developer NetSuite reported revenue increases for both 2009 and the fourth quarter.
Total revenue for the year was $166.5 million, a year-over-year increase of 9 percent. Total revenue for the fourth quarter was $43.0 million. Revenue from the Americas for the fourth quarter of 2009 was $35.0 million, while revenue from international regions was $8.0 million. NetSuite added approximately 295 new customers in the fourth quarter.
On a GAAP basis, the net loss for the fourth quarter of 2009 was $6.5 million, or $(0.10) per share, compared to a net loss of $4.5 million, or $(0.07) per share in the fourth quarter of 2008. On a GAAP basis, net loss for the year ended Dec. 31, 2009 was $23.3 million, or $(0.38) per share, compared to a net loss of $15.9 million, or $(0.26) per share in 2008. GAAP operating loss for the year ended Dec. 31, 2009 was $23.5 million, compared to a GAAP operating loss of $18.4 million in 2008.
In a year that saw many of our ERP competitors sales decline, NetSuite achieved record financial results, said NetSuite CEO Zach Nelson in a statement. Our 10-year head start in delivering cloud computing business applications bodes well for us in 2010 as companies continue to move their core business applications from 1990s-style client-server offerings to NetSuite solutions that have cloud computing at their core.
The companys quarterly results were mostly in line with analyst expectations for the fourth quarter, but the companys outlook for the current quarter of between $43 million and $44 million fell a bit short of analyst forecasts.
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