NetSuite Q1 Loss Widens - Quick Facts

(RTTNews) - NetSuite Inc. (N) reported that its first-quarter net loss widened to $22.2 million, or $0.29 per share, from a loss of $13.0 million, or $0.18 per share, prior year. Non-GAAP net income was $4.4 million, or $0.06 per share, for the quarter.

On average, 23 analysts polled by Thomson Reuters expected the company to report profit per share of $0.02 for the quarter. Analysts' estimates typically exclude special items.

Total revenue was $123.0 million, representing a 34% increase over the same period in the prior year. Analysts expected revenue of $120.92 million for the quarter.

"NetSuite's fiscal year 2014 started strong with record first quarter results, as we grew year-over-year revenue by more than 30 percent for our seventh consecutive quarter, beat our outlook on revenue, operating cash flow and non-GAAP earnings per share, and are raising our revenue outlook for the full year," said NetSuite CEO Zach Nelson.