Utility storage systems 3PAR Inc. (PAR) Thursday reported a loss for the first quarter of fiscal 2011. For the quarter, the company made a net loss of $1.84 million or $0.03 per share compared to loss of $1.80 million or $0.03 per share last year.
Excluding stock-based compensation expense, non-GAAP net income improved to $1 million or $0.02 per share from $41 thousand or breakeven per share in the comparable period a year ago. On average, 14 analysts polled by Thomson Reuters expected the company to earn $0.02 per share. Analysts' estimates exclude special items.
Fremont, California-based 3PAR's total revenue grew 22% to $54.26 million from $44.47 million for the same period in the prior year. Fourteen analysts expected revenue of $54.01 million for the first quarter.
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