NetSuite posts record Q3 revenue

NetSuite Inc., a provider of Internet-hosted e-commerce and accounting software, posted record third quarter revenue of $79.8 million, the company said today.

“NetSuite again exceeded our stated outlook and delivered record revenue,” CEO Zack Nelson said.

NetSuite reported the following for the quarter ended Sept. 30, 2012:

● Revenue of $79.79 million, up 31% from $60.96 million a year earlier;

● A GAAP net loss of $7.98 million, compared with a year-earlier net loss of $6.93 million. GAAP stands for generally accepted accounting principles, and is the standard used by U.S. companies.

● Non-GAAP net income of $5.74 million, up 48.7% from $3.86 million a year earlier. The non-GAAP figures inQ3 2012 don’t include $12.58 million in stock-based compensation and $1.14 million in other unusual costs.

NetSuite provides the e-commerce platform for four of the retailers in the Internet Retailer Top 500, including Beyond the Rack, No. 174, and 12 in the Second 500(learn more about the Second 500.