FREMONT, Calif. -- 3PAR Inc. (NYSE Arca: PAR), a leading global provider of utility storage, today reported results for the third quarter of fiscal year 2008 which ended December 31, 2007. Revenue for the third fiscal quarter was $30.8 million, an increase of 51% compared to revenue of $20.4 million for the same period a year ago and an increase of 10% compared to $28.0 million in the prior quarter, which ended September 30, 2007.
For the third fiscal quarter, GAAP net loss was $1.9 million, or ($0.05) per share compared to GAAP net loss of $45,000, or ($0.00) per share for the same period in the prior year. Non-GAAP net loss, which excludes the impact of stock-based compensation expense, for the third fiscal quarter of 2008 was $664,000, or ($0.02) per share, compared to non-GAAP net income of $381,000, or $0.01 per share for the same period a year ago.
"We are delighted with 3PAR's strong revenue growth and excellent performance," said David Scott, Chief Executive Officer. "We are making significant progress in top tier accounts as we ride the adoption waves of virtualization and utility computing."