News

posted on 01 May 2008 09:43

Compellent more than doubled its quarterly revenues to $18.3 million in its first fiscal 2008 quarter. The net loss declined by over 25 percent.

The Q1 fy08 revenue was up 107 percent from the $8.9 million in Q1 fy07. The net loss was $1.6 million ($0.05/share), compared with a net loss of $2.1 million ($0.51/share) in Q1 fy07.

This was a consequence of an increase in gross margin to 52.2 percent, an increase of 6.0 percentage points from the first quarter of 2007 and 0.8 percentage points above the fourth quarter of 2007.

Phil Soran, Compellent's president and CEO, said: “Our industry is at a unique point where organizations everywhere are realizing they need to be both fiscally responsible and environmentally conscious to remain competitive. Compellent’s first quarter results highlight the strong demand for our virtualized storage offerings as the foundation for energy-efficient, virtual data centers.”

Quarterly highlights included:-

- The number of end users totaled 829 at quarter end, compared with 740 at the end of Q4 fy07,
- Product revenue totaled $14.9 million, an increase of 100 percent from Q1 fy07,
- Product support and services revenue totaled $3.4 million, an increase of 140 percent from Q1 fy07,
- Revenue from new customers represented 47 percent of product revenue during the quarter.

Compellent's IPO was in 2007. The company has cash and investments of $93.1 million, giving it headroom to grow its revenues and move into profit.

^{[Paul Roberts, news editor.]}