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Isilon Bleeds, Vows Profits
Isilon continued to lose money in its first quarter as a public company, but executives say they expect the company to break even later this year. (See Isilon Reports Earnings.)
The clustered NAS vendor went public in December without ever having a profitable quarter. (See Double-Take, Isilon Go Public.) Isilon lost money again last quarter, but it increased sales for the quarter and the full year while decreasing losses.
In its earnings report Wednesday evening, Isilon reported a loss of $3.3 million on revenue of $20.7 million last quarter, compared to a loss of $4.1 million on revenue of $8.7 million in last year's quarter.
For the full year, Isilon lost $16.4 million on $62.3 million in revenue, compared to a loss of $19.1 million on $21.1 million in revenue in 2005.
But CEO Steve Goldman and CFO Stu Fuhlendorf painted a bright picture based on strong momentum this year. They also see hope in a significant rise in digital content and the emerging popularity of clustered systems.
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