On demand enterprise resource planning company NetSuite (N) reported fourth quarter results that were in line with expectations.
NetSuite reported a fourth quarter net loss of $6.4 million, or 10 cents a share, on revenue of $52.1 million, up 21 percent from a year ago. Non-GAAP earnings were $2.8 million, or 4 cents a share. Wall Street was expecting earnings of 4 cents a share on revenue of $51 million.
For 2010, NetSuite reported a loss of $27.5 million, or 43 cents a share, on revenue of $193.1 million, up 16 percent.
Separately, NetSuite announced a customer win. ClearChoice Management Services, a dental practice management company, has moved to NetSuite’s OneWorld ERP software from 92 instances of Microsoft Dynamics GP. NetSuite has been targeting the likes of Microsoft and Sage to poach customers.
NetSuite CEO Zach Nelson said that enterprises are increasingly evaluating the company’s on-demand ERP systems. Earlier this year, NetSuite bolstered its channel networks to better target businesses.