Skip to main content

3PAR Reports Financial Results for Third Quarter of Fiscal 2008

Fremont, Calif. – January 31, 2008 – 3PAR Inc. (NYSE Arca: PAR), a leading global provider of utility storage, today reported results for the third quarter of fiscal year 2008 which ended December 31, 2007. Revenue for the third fiscal quarter was $30.8 million, an increase of 51% compared to revenue of $20.4 million for the same period a year ago and an increase of 10% compared to $28.0 million in the prior quarter, which ended September 30, 2007.

For the third fiscal quarter, GAAP net loss was $1.9 million, or ($0.05) per share compared to GAAP net loss of $45,000, or ($0.00) per share for the same period in the prior year. Non-GAAP net loss, which excludes the impact of stock-based compensation expense, for the third fiscal quarter of 2008 was $664,000, or ($0.02) per share, compared to non-GAAP net income of $381,000, or $0.01 per share for the same period a year ago.

“We are delighted with 3PAR’s strong revenue growth and excellent performance,” said David Scott, Chief Executive Officer. “We are making significant progress in top tier accounts as we ride the adoption waves of virtualization and utility computing.”

Additional Third Quarter Fiscal 2008 Financial Information

3PAR reports operating loss, net loss, and earnings (loss) per share (EPS) on a GAAP and on a non-GAAP basis, which excludes the impact of stock-based compensation expense. The non-GAAP measures are described in greater detail below and are reconciled to the corresponding GAAP measures in the accompanying financial tables.

  • GAAP operating loss for the third quarter of fiscal 2008 was $2.3 million, or 8% of revenue. This compares to GAAP operating loss of $2.4 million, or 9% of revenue, in the second quarter of fiscal 2008. Non-GAAP operating loss in the third quarter of fiscal 2008 was $1.1 million, or 4% of revenue. This compares to non-GAAP operating loss of $1.8 million, or 6% of revenue, in the second quarter of fiscal 2008. GAAP net loss for the third quarter of fiscal 2008 was $1.9 million as compared to $2.4 million in the second quarter of fiscal 2008. Non-GAAP net loss in the third quarter of fiscal 2008 was $664,000, compared to $1.7 million in the second quarter of fiscal 2008.
  • GAAP basic and diluted EPS for the third quarter of fiscal 2008 was ($0.05) on 39.8 million weighted average shares outstanding, compared to ($0.13) for the second quarter of fiscal 2008 on 18.5 million weighted average shares outstanding. Non-GAAP basic and diluted EPS in the third quarter of fiscal 2008 was ($0.02), compared to ($0.09) in the second quarter of fiscal 2008.
  • Non-GAAP operating loss, non-GAAP net loss, and non-GAAP EPS are computed net of stock-based compensation (SBC). In the third quarter of fiscal 2008, the charge related to SBC was $1.2 million as compared to $639,000 in the second quarter of fiscal 2008.

Reconciliations of Non-GAAP measures to GAAP operating income, net income, and EPS are included at the end of this release.

Labels:

Comments

Post a Comment

Popular posts from this blog

Security: VMware Workstation 6 vulnerability

vulnerable software: VMware Workstation 6.0 for Windows, possible some other VMware products as well type of vulnerability: DoS, potential privilege escalation I found a vulnerability in VMware Workstation 6.0 which allows an unprivileged user in the host OS to crash the system and potentially run arbitrary code with kernel privileges. The issue is in the vmstor-60 driver, which is supposed to mount VMware images within the host OS. When sending the IOCTL code FsSetVoleInformation with subcode FsSetFileInformation with a large buffer and underreporting its size to at max 1024 bytes, it will underrun and potentially execute arbitrary code. Security focus
Post a Comment
Read more

Our frozen chi's and the Workfloor

I left home when I was 20. I had studied Physics(Major) and had no idea what to do next. I took to the seas, I think looking back it was more like a refuge, an asylum. Seeking to get away from all that peer pressure, myself and what not. 1991 June 7, around midnight I arrive in Lagos, Nigeria. Company agent ships me to the nearby hotel to wait for my first “boat”. That's the first time in my life I saw a lot of people , a race totally different from ours. I was warned to be careful, protect my wallet, but they came across as just about any other regular folk. That was my “first encounter”. Funny, since then I have worked with all kinds of nationalities (Japanese, Chinese, Malaysians, Indonesians, Dutch, Scandinavians, Thai, Americans, Spanish, Argentinians,..I can go on and on). What I have learned in all that is that we are all so much alike. But on board a ship it is “ really ” different. Your job is crucial and you must work together. That makes you accept each other realistica...
8 comments
Read more

A Collection of Threnodies : Part 1

Whale Fall ----------------- Dress me up in my new threads clasp my greasy palms grease my hair I'm ready for the fall Watch at all the decadence watching the avalanche I'm slipping down losing my buoyancy What's become of us where have we come this far, this close close to the doors I hear them, sublimal chants I'm on the run I race through the human sea I am the king! I'm the slave to my own undoings I'm the jester in my courtyard We jest as we run We're strolling on that thin rope we grope as we rope we're true heros we're the survivors we're the scavengers we're the friends we're the lovers we're the unbred Soon awaiting the fall we're lurking on us we're osedaxing us we're soon going to be done we'll soon be arrested *osedax(bone devourer, newly discovered marine genus) feeds on a fallen(sunken) whale carcass(which is also called a whale fall). Read more here
9 comments
Read more