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Isilon: The Honeymoon's Over

Clustering vendor reports revenue hike and narrows losses, but eludes profitability

Clustering specialist Isilon announced its first full quarter of results as a public company last night, with a major revenue hike offset by ongoing losses. (See Isilon Announces Results.)

Isilon reported solid first-quarter revenues of $21.6 million, below analyst estimates of $22.37 million, but 107 percent more than the same period last year. Execs on a conference call attributed the boost in part to recent customer wins. (See Discovery Chooses Isilon, Isilon, NBC Universal Sign, and XM Radio Uses Isilon.)

Isilon, which went public in a blaze of publicity late last year, has continued to lose money in recent months, prompting analysts to urge the company to seek out larger deals. (See Isilon Reports Earnings, The Slings & Arrows of IPOs, and Isilon Bleeds, Vows Profits.)

The losses do seem to be narrowing. On a GAAP basis, Isilon reported a first-quarter net loss of $3.8 million, or 6 cents per share, compared to a net loss of $4.5 million and 79 cents per share in the same period last year.

On a non-GAAP basis, net loss for the quarter was $3.3 million, or 5 cents per share, compared to a loss of $4.3 million, or 9 cents per share, in the first quarter of 2006. Analysts had anticipated a loss of 3 cents per share.

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