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.