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Compellent Reports Q1 Profit

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.