Feeds

3PAR reverts to a loss

OPEX increase offsets sales rise

The Essential Guide to IT Transformation

Beating Wall Street earnings estimates, 3PAR grew revenues 61 per cent in its second fiscal quarter of 2009, although it reported a net loss compared to a profit in the previous quarter.

Q2 fiscal year 2009 revenues were $45.1m, a satisfying increase from the year-ago quarter's $28m, but the company had a GAAP net loss of $1.2m (-$0.02/share). This was a 50 per cent improvement on Q2 fiscal year 2008 with its net loss of $2.4m (-$0.13/share), but a $1.8m turn for the worse from the previous quarter's $678,000 net profit, 3PAR's first profit.

There was a sequential 11 per cent increase in operating expenses in the quarter, due to R&D, and sales and marketing spending rises, and this offset the revenue increase. Quarterly revenue rose only 5 per cent sequentially and we may be seeing an order slow-down. Cash and short term equivalents rose to $128.4m, up from the previous quarter's $115.6m, so the company has no cash shortage. 3PAR may make a profit for the full fiscal 2009 but this very much depends upon the severity of the recession.

The company has announced the hiring of a new VP for direct EMEA sales, Tim Pitcher, who joins from Acopia which he left around the time of the F5 takeover. He was previously at NetApp. ®

The Essential Guide to IT Transformation

More from The Register

next story
Sysadmin Day 2014: Quick, there's still time to get the beers in
He walked over the broken glass, killed the thugs... and er... reconnected the cables*
Auntie remains MYSTIFIED by that weekend BBC iPlayer and website outage
Still doing 'forensics' on the caching layer – Beeb digi wonk
Microsoft says 'weird things' can happen during Windows Server 2003 migrations
Fix coming for bug that makes Kerberos croak when you run two domain controllers
Cisco says network virtualisation won't pay off everywhere
Another sign of strain in the Borg/VMware relationship?
VVOL update: Are any vendors NOT leaping into bed with VMware?
It's not yet been released but everyone thinks it's the dog's danglies
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.