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NetSuite Announces First Quarter 2012 Financial Results

SAN MATEO, Calif. April 26, 2012 cloud financials ERP software March 31

$69.3 million $58.0 million

$77.9 million

$10.6 million $3.9 million

$7.7 million $(0.11) $7.7 million $(0.12)

$4.1 million $0.06 $1.9 million $0.03

Zach Nelson

Conference Call
2:00 p.m. PDT 5:00 p.m. EDT www.netsuite.com/investors

About NetSuite
www.netsuite.com

Cautionary Note Regarding Forward-Looking Statements

In particular, the following factors, among others, could cause results to differ materially from those expressed or implied by such forward-looking statements: the market for on-demand services may develop more slowly than expected or than it has in the past; continued adverse and unpredictable macro-economic conditions or reduced investments in on-demand applications and information technology spending; quarterly operating results may fluctuate more than expected; unexpected disruptions of service at the Company’s data center may occur; a security breach may impact operations; risks associated with material defects or errors in the Company’s software or the effect of undetected computer viruses could impact operations; the risk of technological developments and innovations by others; our ability to successfully identify other businesses and technologies for acquisition that will complement our business and the ability to successfully acquire and integrate those businesses and technologies; the risk of loss of power or disruption in Internet service; failure to manage growth and effectively scale the organization; failure to protect and enforce our intellectual property rights; assertions by third parties that we infringe their intellectual property rights; the ability to manage operations when faced with competitive pricing and marketing strategies by competitors or changing macro-economic conditions; the risk of losing key employees; evolving government regulation of the Internet and Ecommerce; changes to current accounting rules; changes in foreign exchange rates, and general political or destabilizing events, including war, conflict or acts of terrorism; and other risks and uncertainties.

Customers who purchase our services should make sure the decisions are based on features that are currently available. Please be advised that any unreleased services or features from NetSuite referenced in today’s discussion or other public statements are not currently available and may not be delivered on time or at all.

February 28, 2012 www.sec.gov www.netsuite.com

Non-GAAP Financial Measures

The Company considers these non-GAAP financial measures to be important because they provide useful measures of the operating performance of the Company and are used by the Company’s management for that purpose. In addition, investors often use measures such as these to evaluate the operating performance of a company. Non-GAAP results are presented for supplemental informational purposes only for understanding the Company’s operating results. The non-GAAP results should not be considered a substitute for financial information presented in accordance with generally accepted accounting principles, and may be different from non-GAAP measures used by other companies.

www.netsuite.com/investors

NOTE: NetSuite and the NetSuite logo are service marks of NetSuite Inc.

NetSuite Inc.

Condensed Consolidated Balance Sheets 
(dollars in thousands) 
(unaudited)

March 31, 2012

December 31, 2011

Assets

Current assets:

Cash and cash equivalents

$

154,160

$

141,448

Accounts receivable, net of allowances of $392 and $396 as of

         March 31, 2012 and December 31, 2011, respectively

40,395

39,105

Deferred commissions

21,774

22,968

Other current assets

9,444

8,693

Total current assets

225,773

212,214

Property and equipment, net

22,447

21,823

Deferred commissions, non-current

3,721

3,585

Goodwill

27,564

27,564

Other intangible assets, net

11,274

12,162

Other assets

4,043

3,832

Total assets

$

294,822

$

281,180

Liabilities and total equity

Current liabilities:

Accounts payable

$

2,777

$

1,905

Deferred revenue

114,406

105,800

Accrued compensation

13,616

17,748

Accrued expenses

8,404

8,285

Other current liabilities

8,156

7,829

Total current liabilities

147,359

141,567

Long-term liabilities:

Deferred revenue, non-current

5,829

5,898

Other long-term liabilities

4,926

5,705

Total long-term liabilities

10,755

11,603

Total liabilities

158,114

153,170

Total equity:

Common stock

700

688

Additional paid-in capital

486,668

470,485

Accumulated other comprehensive income

582

369

Accumulated deficit

(351,242)

(343,532)

Total equity

136,708

128,010

Total liabilities and total equity

$

294,822

$

281,180




(unaudited)

Three months ended

March 31,

2012

December 31,

2011

September 30,

2011

June 30,

2011

March 31,

2011

Revenue:

Subscription and support

$

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