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NetSuite Reports 34% Revenue Increase In 2013

netsuite logoNetSuite achieved a 35% year-over-year growth in revenue for Q4 2013 and a 34% increase in overall revenue compared to the previous year.

Furthermore, the company reports its operating cash flow increased by 29% in Q4 2013, finishing at $17.3 million. The operating cash flow for the fiscal year increased by 15% over the previous year, ending at $62.2 million.

"2013 was a record year for NetSuite, and the fourth year in a row that NetSuite delivered accelerating revenue growth,” saidZach Nelson, CEO of NetSuite. “Our continued execution and growth bear witness to the fact, that as companies move their core business applications to the cloud they are moving to NetSuite and leaving the pre-cloud solutions of Microsoft, Sage and SAP behind."