3Par posts smaller fiscal 4th-quarter loss as revenue improves

3Par posts smaller 4Q loss, higher revenue

FREMONT, Calif. — Data storage company 3Par Inc. posted a smaller net loss for its fiscal fourth quarter Tuesday as revenue rose amid the improving economy.

For the three months ended March 31, the company posted a net loss of $99,000, or less than a penny per share, compared with a loss of $907,000, or a penny per share, in the same period a year earlier.

Adjusted earnings, which exclude stock options costs, were 4 cents per share in the latest quarter.

Revenue rose 11 percent to $53.7 million from $48.5 million.

Analysts, on average, projected profit of 2 cents per share on revenue of $52.6 million, according to a poll by Thomson Reuters.

For the full year, the company posted a loss of $3.2 million, or 5 cents per share, compared with a loss of $959,000, or 2 cents per share, a year earlier.

Revenue rose 5 percent to $194.3 million.

Shares fell 21 cents, or 2.1 percent, to $9.80 in after-hours trading. The stock earlier closed down 12 cents at $10.01