News

posted on 13 February 2008 18:29

EDEN PRAIRIE, Minn.--(BUSINESS WIRE)--Compellent Technologies, Inc. (NYSE Arca:CML) announced today its financial results for the fourth quarter and full year ended December 31, 2007. Revenue for the fourth quarter of 2007 was $16.9 million, an increase of 124 percent from $7.5 million a year ago, and up 26 percent from the third quarter. Gross margin was 51.4 percent, up 6.8 percentage points from the fourth quarter of 2006 and 1.5 percentage points from the third quarter of 2007.

“Our strong finish in 2007 is evidence of our team’s execution and delivery of a game-changing storage solution to a fast-expanding group of passionate end users,” said Phil Soran, president and CEO of Compellent. “The growing demand for our scalable, virtualized storage solution is the result of our ability to lower storage costs for midsized enterprises.”

Financial highlights include:

For 2007, revenue increased 119 percent to $51.2 million from $23.3 million in 2006.
As of December 31, 2007, the number of end users totaled 740, up 107 percent from December 31, 2006.
Excluding the effect of stock-based compensation, net loss was $(1.5) million for the fourth quarter of 2007 compared to $(2.0) million for the fourth quarter of 2006.
For 2007, net loss excluding the effect of stock-based compensation, was reduced to $(7.1) million from $(13.1) million in 2006.
The company ended 2007 with cash and short-term investments totaling $93.7 million.

“The industry is continuing to recognize Compellent’s leadership in driving out costs and energy consumption from the data center,” said Mr. Soran. “Businesses and the channel alike are turning to energy-efficient networked storage systems and a clear product strategy that can deliver on the promise of the new, virtual data center.”

Key industry awards recently won by Compellent include “Best SAN” by InfoWorld for the second consecutive time. Compellent’s UK channel partners Fordway and JCom earned the top two honors in the European IT Excellence Awards, in the Data and Information Management category, for “green” Compellent SAN deployments.

Find out more here.