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Compellent Reports Q1 Profit
Compellent generates profit in third-quarter 2008
October 22, 2008
1 Min Read
EDEN PRAIRIE, Minn. -- Compellent Technologies, Inc. (NYSE Arca: CML) today announced strong financial results for its third quarter ended September 30, 2008. Highlights include:
First ever quarterly profit of $0.01 per share. Adjusting for the non-cash expense of stock compensation, quarterly profit was $0.03 per share.
Revenue of $24.6 million represented the twelfth consecutive quarterly increase. Revenue increased 84 percent from the third quarter of 2007 and 17 percent from the second quarter of 2008.
End users grew to 1,086 at September 30, 2008 compared with 740 at December 31, 2007.
Cash and investments totaled $95.0 million at September 30, 2008.
We reported an excellent third quarter driven by strong demand for our cost-effective, energy-efficient storage,” said Phil Soran, President and CEO of Compellent. “We achieved quarterly profitability one year after completing our IPO, grew revenue 17 percent on a consecutive quarter basis and continued to add to our end user customer base. Users are looking for a more cost-efficient method for storing data, and our feature-rich solution addresses these requirements.”
Compellent Technologies Inc.
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