Exhibit 99.1

LOGO

FOR IMMEDIATE RELEASE

     

3PAR U.S. Contact

Adriel Lares

Vice President of Finance and

Chief Financial Officer

(510) 413-5999

3PAR Reports Financial Results for Third Quarter of Fiscal 2010

Fremont, CA, January 28, 2010—3PAR

® (NYSE: PAR), the leading global provider of utility storage, today reported results for the third quarter of fiscal year 2010, which ended December 31 st, 2009. Revenue for the third quarter was $50.1 million, an increase of 4% compared to revenue of $48.2 million for the same period a year ago and an increase of 9% compared to $46.1 million in the prior quarter, which ended September 30th, 2009.

For the third quarter of fiscal 2010, GAAP net loss was $528,000, or ($0.01) per share, compared to GAAP net income of $461,000, or $0.01 per share, for the same period in the prior year. Non-GAAP net income, which excludes the impact of stock-based compensation expense, for the third quarter of fiscal 2010 was $1.9 million, or $0.03 per share, compared to $2.3 million, or $0.04 per share, for the same period in the prior year.

“Through unique hardware and software innovations such as our newly-announced, hardware-accelerated thin software technologies (Thin Conversion, Thin Persistence, and Thin Copy Reclamation), 3PAR has continued to move the goal posts forward, ahead of the incumbents, widening the gap between the value that legacy storage vendors promise and the value that we actually deliver,” said David Scott, President and Chief Executive Officer. “We have continued to stay ahead of the game with first-to-market technologies such as autonomic storage management for clusters, as well as autonomic storage tiering within high-end arrays. This technology leadership has created a strong incentive for customers to choose a best-of-breed approach over the sub-optimal, proprietary, vertical stacks offered by legacy storage vendors.”

Additional Third Quarter Fiscal 2010 Financial Information

3PAR reports operating income (loss), net income (loss), and earnings (loss) per share (EPS) on a GAAP and on a non-GAAP basis, which excludes the impact of stock-based compensation expense. The non-GAAP measures are described in greater detail below and are reconciled to the corresponding GAAP measures in the accompanying financial tables.

 

   

GAAP operating loss for the third quarter of fiscal 2010 was $474,000 compared to $667,000 in the second quarter of fiscal 2010. GAAP operating loss was 1% of revenue in both quarters. Non-GAAP operating income in the third quarter of fiscal 2010 was $2.0 million compared to $1.7 million in the second quarter of fiscal 2010. Non-GAAP operating income was 4% of revenue in both quarters. GAAP net loss for the third quarter of fiscal 2010 was $528,000 compared to $758,000 in the second quarter of fiscal 2010. Non-GAAP net income in the third quarter of fiscal 2010 was $1.9 million, compared to $1.6 million in the second quarter of fiscal 2010.


The following information was filed by 3Par Inc. on Thursday, January 28, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate 3Par Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by 3Par Inc..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account