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NetSuite Announces Fourth Quarter and Fiscal 2010 Financial Results

SAN MATEO, Calif. Feb. 3, 2011 cloud financials ERP software December 31, 2010

$52.1 million $44.2 million $193.1 million

$5.7 million $6.6 million December 31, 2010 $25.6 million $23.5 million

$6.4 million $(0.10) $6.5 million $(0.10) December 31, 2010 $27.5 million $(0.43) $23.3 million $(0.38)

$3.5 million $1.3 million December 31, 2010 $10.4 million $3.2 million December 31, 2009

$2.8 million $0.04 $1.3 million $0.02 December 31, 2010 $8.5 million $0.13 $3.4 million $0.05

Zach Nelson

Conference Call

2:00 p.m. PST 5:00 p.m. EST www.netsuite.com/investors

The live call can be accessed by dialing 800-263-8506 (U.S.) or 719-325-2327 (outside the U.S.) and referencing passcode: 864-0226. A replay of the call can also be accessed by dialing 888-203-1112 (U.S.) or 719-457-0820 (outside the U.S.), and referencing passcode: 864-0226.

About NetSuite

www.netsuite.com

Cautionary Note Regarding Forward-Looking Statements

This press release and NetSuite’s scheduled conference call contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 relating to, among other things, expectations, plans, prospects and financial results for NetSuite, including, but not limited to, our expectations regarding our products, market demand, future earnings, revenue and market share growth. These forward-looking statements are based upon the current expectations and beliefs of NetSuite’s management as of the date of this press release and conference call, and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. All forward-looking statements made in this press release and during the conference call are based on information available to the Company as of the date thereof, and NetSuite disclaims any obligation to update these 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; failure to protect and enforce our 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; increased demands on employees and costs associated with operating as a public company; evolving government regulation of the Internet and Ecommerce; changes to current accounting rules; 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.

November 5, 2010 www.sec.gov www.netsuite.com

Non-GAAP Financial Measures

The Company’s stated results include certain non-GAAP financial measures, including non- GAAP operating income/(loss), net income/(loss), weighted average shares outstanding, and net income/(loss) per share. Non-GAAP operating income/(loss) and Non-GAAP net income/(loss) excludes expenses related to stock-based compensation expense, amortization of intangible assets and transaction costs for business combinations. Non-GAAP operating income/(loss) and Non-GAAP net income/(loss) excludes these expenses as they are often excluded by other companies to help investors understand the operational performance of their business, and in the case of stock-based compensation, can be difficult to predict. The Company believes these adjustments provide useful comparative information to investors.

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

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

NetSuite Inc.

Condensed Consolidated Balance Sheets

(dollars in thousands)

(unaudited)

December 31,

2010

2009

Assets

Current assets:

Cash and cash equivalents

$        104,298

$          96,355

Accounts receivable, net of allowances of $456 and $921 as of

December 31, 2010 and 2009, respectively

27,235

25,776

Deferred commissions

15,401

11,726

Other current assets

7,190

4,922

Total current assets

154,124

138,779

Property and equipment, net

19,847

14,731

Deferred commissions, non-current

1,389

1,040

Goodwill

27,340

28,095

Other intangible assets, net

12,507

17,073

Other assets

2,086

2,506

Total assets

$        217,293

$        202,224

Liabilities and equity

Current liabilities:

Accounts payable

$            1,489

$            1,147

Deferred revenue

75,827

66,360

Accrued compensation

12,048

10,562

Accrued expenses

5,144

5,154

Other current liabilities

5,599

5,716

Total current liabilities

100,107

88,939

Long-term liabilities:

Deferred revenue, non-current

5,312

6,361

Other long-term liabilities

5,590

2,217

Total long-term liabilities

10,902

8,578

Total liabilities

111,009

97,517

Equity:

NetSuite Inc. stockholders’ equity:

Common stock

649

629

Additional paid-in capital

416,582

387,507

Accumulated other comprehensive income

578

756

Accumulated deficit

(311,525)

(284,059)

Total NetSuite Inc. stockholders’ equity

106,284

104,833

Noncontrolling interest

(126)

Total equity

106,284

104,707

Total liabilities and equity

$        217,293

$        202,224

NetSuite Inc.

Condensed Consolidated Statements of Operations

(dollars and shares in thousands, except per share amounts)

(unaudited)

Three months ended

Twelve months ended

December 31,

December 31,

2010

2009

2010

2009

With

adoption

of ASU

2009-13

With

adoption

of ASU

2009-13

Revenue:

Subscription and support

$   44,229

$   36,660

$ 163,964

$ 139,121

Professional services and other

7,838

6,304

29,185

27,419

Total revenue

52,067

42,964

193,149

166,540

Cost of revenue:

Subscription and support (1)

6,870

6,587

26,908

24,570

Professional services and other (1)

8,651

8,434

34,741

31,535

Total cost of revenue

15,521

15,021

61,649

56,105

Gross profit

36,546

27,943

131,500

110,435

Operating expenses:

Product development (1)

8,568

7,650

35,019

28,577

Sales and marketing (1)

26,191

19,626

92,814

76,165

General and administrative (1)

7,459

7,265

29,232

29,215

Total operating expenses

42,218

34,541

157,065

133,957

Operating loss

(5,672)

(6,598)

(25,565)

(23,522)

Other income / (expenses) and income taxes, net

(773)

(120)

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