Saugatuck recently listened in to the hour-long NetSuite (NYSE: N) earnings call for 1Q2012. While not a huge part of our research process, monitoring vendor financial performance and Wall Street perspectives are an important additional input to our research process – beyond our ongoing client interactions, deep-dive vendor briefings, and primary buyer-demand research.
Overall, NetSuite reported strong 1Q2012 results, and well ahead of consensus estimates – with revenues advancing 29.7 percent (to $69.3 million), billings growing 26 percent, and earnings reaching $0.06 EPS. More impressive is the fact that year-over-year and quarter-to-quarter comparisons were particularly challenging, given strong performance in 1Q2011 and 4Q2012. NetSuite’s CFO guided the Wall Street analysts on the call toward full-year revenues of $295-$300 million, which would represent 25-27 percent growth, with operating margins approaching 6.0 percent (up from 5.3 percent in 2011).
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