News

posted on 07 May 2008 14:52

Storage array provider 3PAR is growing fast with annual revenues up nearly 80 percent, quarterly revenue tripling and the quarterly net loss down to a tenth of the year-ago quarter.

In its fourth fiscal 2008 quarter (Q4 fy08) 3PAR earned $35.5 million, up 204 percent from Q4fy07's $11.7 million. The quarterly net loss was $1.2 million ($0.02/share), about a tenth of the year-ago quarter's net loss of $11.7 million ($0.87/share).

For the full year 3PAR revenues came in at $118.0 million, 78 percent up on fy07's $66.2 million. The net loss for fy08 was $10.1 million ($0.30/share) versus fy 07's net loss of $15.5 million ($0.87/share).

CEO David Scott was delighted, especially as 3PAR reached its non-GAAP break-even point ahead of expectations: "We are pleased to see 3PAR deliver another strong revenue growth quarter. We continue to further penetrate key accounts as customers better realize the capital and operational savings benefits of utility storage."

We can reasonably look forward to 3PAR becoming profitable in its fiscal 2009.

^{[Paul Roberts, news editor]}