Seventy eight per cent revenue rise narrows annual loss
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Storage clustering specialist 3PAR
decreased its net loss to $10.1m (£5.2m) for the fiscal year ended 31 March
2008, down from $15.5m posted in the previous year. The company saw its annual
revenues total $118m, 78 per cent up on the $66.2m reported in 2007.
Fourth quarter losses were $1.2m, compared to $11.7m in the fourth quarter of
the previous year, with revenues tripling from $11.7m to $35.5m in the same
period.
3PAR targets UK corporates with high-capacity storage appliances and software
that helps IT departments comply with industry rules and regulations on data
protection and corporate governance, competing with storage giants such as
NetApp and
EMC.
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