In a week when U.S. unemployment figures shot up, prompting yet more talk of recession and nervousness about the economy, storage companies delivered some decidedly bright financial news.
Strong performances from 3PAR and Data Domain, as well as Microsoft's audacious $45 billion bid for Yahoo, all underline the growing demand for storage-related IT wares, including utility storage, virtualization, and de-duplication.
Last night, thin provisioning pioneer specialist 3PAR, which raised $95 million in an IPO last November, posted a strong set of results in its first quarter as a public company.
3PAR's revenues were $30.8 million, a 51 percent increase on the same period last year and well above analyst estimates of $27.6 million. Despite posting a non-GAAP earnings loss of 2 cents per share, this was still much better than analyst estimates of a 6 cents loss.
With storm clouds gathering over the U.S. economy, financials from storage vendors offer at least some silver lining at a time of growing uncertainty. Earlier today, for example, the U.S. Labor Department announced that the country's payrolls have declined for the first time in four years, sending shock waves through the markets.