According to its earnings conference call, it looks like NetSuite Inc. (NYSE: N) isn't being harmed by the slow economic environment. Then again, the company provides a cost-effective enterprise resource planning (ERP) solution. Plus, the competition -- including SAP (NYSE: SAP) and Microsoft Corp. (Nasdaq: MSFT) -- has been lackluster.

In Q2, NetSuite's revenues surged 43% to $36.6 million, a 7% sequential increase. In fact, NetSuite added more than 400 customers in the quarter. Although there was a net loss of $3.1 million, or $0.05 per share, SAP has made recent moves to increase its pricing.

Essentially, NetSuite focuses on the mid-market customer. Keep in mind that there are more than five million of them in the U.S. And, for the most part, the market is fragmented and unpenetrated.

To expand its lead, NetSuite has continued to innovate. For example, by using customization systems, customers can develop industry-specific applications. And NetSuite is building out a sophisticated professional service arm, which should help to streamline the integration process for customers.

Going forward, NetSuite forecast full-year revenues of $156 million to $159 million, with a net loss of $2.5 million to $3.5 million.

So far in today's trading, NetSuite's shares are down 4.52% to $15.85.

Tom Taulli is the author of various books, including The Complete M&A Handbook and The Edgar Online Guide to Decoding Financial Statements. He also operates MergerBook.com.