Thursday, business management software services provider NetSuite Inc. (N) reported a wider loss in the fourth quarter due to an increase in expenses.
Net loss attributable to the company widened to $6.54 million or $0.10 per share from $4.46 million or $0.07 per share a year-ago. Non-GAAP net income attributable to the company increased to $1.33 million or $0.02 per share from $0.534 million or $0.01 per share a year-ago.
On average, 17 analysts polled by Thomson Reuters expected the company to earn $0.02 per share. Analysts' estimates typically exclude special items.
According to the San Mateo, California-based company, revenue for the quarter increased to $42.96 million from $41.40 million a year-ago. Sixteen Wall Street analysts estimated a revenue of $43.03 million for the quarter.
Cost of revenue increased to $15.02 million from $13.06 million in the year-ago period.
Total operating expenses including expenses towards product development, sales and marketing and general and administrative expenses increased to $34.54 million from $33.20 million in the year-ago period.
For the full year, net loss attributable to the company widened to $23.30 million or $0.38 per share from $15.86 million or $0.26 per share in the prior year period.
The non-GAAP net income attributable to the company improved to $3.38 million or $0.05 per share from $2.48 million or $0.04 per share a year-ago. Year-to-date revenue increased to $166.54 million from $152.47 million in the year-ago period.
Street estimated earnings of $0.06 per share on revenues of $166.58 million for the full year.
N closed Thursday's last trade at $14.51, down $0.96 or 6.21%, on a volume of 351 thousand shares on the New York Stock Exchange. In the afterhours the stock traded down $0.06 or 0.41%.
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