3PAR edges towards profit

Seventy eight per cent revenue rise narrows annual loss

3PAR saw utility storage sales revenue triple in Q4 2008

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.