The standard NetSuite financial report was issued for the second quarter ended June 30. The net loss was $20.4 million, more than double the $9.9 red ink in last year's corresponding period. Revenue reached $101 million, up 35 percent from $74.7 million a year ago. However, like the first quarter and unlike what has happened for a couple of years, non-GAAP earnings fell, instead of rising.
Intuit's top executives have been given executives, something that most have not seen in three years. Both CEO Brad Smith and CFO Neil Williams received bonuses for the year ended July 30. Neither received bonuses in fiscal 2011 or 2012. Smith got a bonus of $1.12 million while his base salary moved to $1 million for the current fiscal year.
Accounting firms in the channel fared well with this year's selection of the Intacct's Presidents' Club. Three of the eight firms selected were accounting firms including Armanino, CliftonLarsonAllen and LBMC Technologies. For Armanino, it was another award in what looks like a very good year. Earlier this month, the San Ramon, Calif.-based firm was named to the Microsoft Dynamics Inner Circle, the only U.S. accounting firm to make that group.
Infor has kicked off its annual partner summit in San Diego. But I'm sitting here in New Jersey writing about it. Because after an unexpected invitation to last year's show, this year's is a media blackout. (Not that I could have made it since we're heading for Alaska tomorrow.) In fact, Infor did not respond to questions about whether there was a show and official notification only arrived yesterday.