Web-based accounting software developer NetSuite cut its net loss for the second quarter of 2008 and grew its revenue 43 percent compared to the year-ago quarter.
Total revenue for the second quarter was $36.6 million. Net loss for the second quarter was $3.1 million, or $0.05 a share, on a GAAP basis, compared to $9.6 million, or $1.22 per share, in the second quarter of 2007, a 67 percent improvement.
Revenue from the Americas for the second quarter of 2008 was $29.2 million, while revenue from outside the Americas was $7.4 million. NetSuite added more than 400 new customers in the second quarter.
For the third quarter of 2008, NetSuite expects total revenue in the range of $40.0 million to $40.7 million. For the full year, NetSuite anticipates between $156 million and $159 million in revenue.
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