3PAR results show storage is still big business

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Utility storage company 3PAR has released its fourth quarter results of the fiscal year 2009, reporting a huge leap in profits.

Revenue for the quarter, which ended on 31 March this year, rose to $48.5 million (£32 million) from $35.5 million in the same period last year. This translates as a 37 per cent increase.

Revenue over the entire year was $184.7 million compared to $118 million in the previous year - again a massive rise of 57 per cent.

David Scott, chief executive at 3PAR, said: “We believe the strong revenue growth we reported for fiscal 2009 reflects not only the ongoing financial discipline of the company, but also the unique value that 3PAR Utility Storage platform brings to the market as a capacity- and energy-efficient means of addressing the need for both CAPEX (capital expenditures) and OPEX (operating expenses) reduction in today's datacenters.”

In a statement, Scott also put this rise down to the company’s use of “enterprise IT as a utility service and [deployment of] cloud computing service delivery models” along with the claim that the firm helped customers reduce their own data costs by up to 50 per cent.

3PAR is one of the few financial success stories of 2009 so far with Sun Microsystems releasing its final figures last week before Oracle officially takes over, showing a net loss of $201 million.

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