SAN FRANCISCO (Thomson Financial) - NetSuite Inc. late Thursday reported a first-quarter net loss of $2.03 million, or 3 cents a share, versus a year-ago net loss of $9.28 million, or $1.24 a share.
Excluding stock-based compensation expense, the loss was $420,000, or a penny a share in the quarter ended March 31.
The mean estimate of analysts polled by Thomson Reuters was for a per-share loss of 2 cents.
The San Mateo, Calif.-based business management software company said revenue rose to $34.1 million from $23.2 million, versus the $34 million consensus estimate.
For the second quarter, NetSuite expects an adjusted loss in the range of breakeven to 2 cents a share on revenue of $36 million to $36.7 million. For 2008, the company forecast an adjusted loss of a penny to 4 cents a share on revenue of $154 million to $157 million.
Analysts are currently looking for a second-quarter loss of a penny a share and a 2008 loss of 2 cents a share.
Shares of Netsuite closed at $22.31 and fell 8% in after-hours trade. Gabriel Madway gm COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.