Ladies & gents the buy for this June month is PAR. I just sent in the request. It fired out of the gate today and settled in at $9.75. This is an 07 storage ipo that has not fared well despite nice numbers, it had good high quality backers at it's IPO; the stk is way down and just late last week on the charts started to look real peppy... over $10 and we can begin to acquire some more mutual fund love... Seven years ago, 3PAR was founded around a new idea: that distributed storage should go the way of the dinosaur. The company wanted to show customers how to buy storage in a more efficient way, as a utility, and in the process lower their total cost of ownership. At first, 3PARâs message was hard to hear above the fray in a market dominated by huge players like EMC. But by focusing on building a strong sales strategy, getting repeat business from existing customers and targeting new business in the financial and Internet space, CEO David Scott says 3PARâs reputation has grown. It wasnât always easy. At first, there was a lot of âtrial and errorâ over how to move sales beyond the early adopter market. Then came the Internet bust, which 3PAR weathered due to a $100 million investment it received shortly before the market crashed. By 2003, the market brightened as businesses began moving away from distributed storage methods toward virtualization and specialized IT infrastructure. Companies clearly wanted to improve efficiency and gain better control over their data and increase their utilization to deal with new regulations surrounding government compliance. Thatâs when 3PARâs business truly took off. âEach successive quarter we gained one or two significant customers,â Scott says. âIt reached a point where it got easier to sell the value proposition.â Today, 3PARâs technology has won the confidence of high profile customers like MySpace, which used 3PAR Utility Storage to help the company handle an eye-popping jump from 13 million to 100 million users over the past nine months. As 3PAR edges toward profitability, the corporate need for storage is getting bigger than ever, driven by compliance and the increasing use of video and online photos. here is some info from the co from their initial ipo offering... all sales figures can assume to be HIGHER than this point.... All quotations are from the company's S-1 3PAR Inc. (PAR) Business Overview (from prospectus) We are the leading global provider of utility storage solutions for large to medium enterprises, business-oriented service providers, consumer-oriented Internet/Web 2.0 companies and government entities. Utility storage is a segment of the larger, global market for Fibre Channel and iSCSI open storage area networks, or SANs, a market in which we compete with larger, more established companies. Our utility storage products offer simple, efficient and massively scalable tiered storage arrays designed to dramatically enhance the economics and performance of storage. Our utility storage solution is designed to provision storage services rapidly and simply, reduce administrative costs, improve server and storage utilization, lower power requirements and scale efficiently to support the continuous growth of data. Offering: 7.5 million shares at $11.00 - $13.00 per share. Net proceeds of approximately $81,000,000 will be used for working capital and other general corporate purposes, including the development of new products, capital expenditures and repayment of debt. Lead Underwriters: Goldman Sachs, Credit Suisse Financial Highlights: Our total revenue increased by $17.7 million, or 52%, to $51.8 million in the first six months of fiscal 2008 from $34.1 million in the first six months of fiscal 2007... Cost of revenue increased by $4.8 million, or 37%, to $17.7 million in the first six months of fiscal 2008 from $12.9 million in the first six months of fiscal 2007... Gross margin increased to 65.8% in the first six months of fiscal 2008 from 62.1% in the first six months of fiscal 2007... Research and development expense increased by $6.5 million, or 64%, to $16.7 million in the first six months of fiscal 2008 from $10.2 million in the first six months of fiscal 2007... Some of their earlier financing gives god clues about the co- Investor Integral Capital Partners and Alliance Bernstein approached 3Par to invest, even though 3Par didn't need the cash, says CEO Scott. "They put an offer on the table we couldn't refuse," he says. The Alliance Bernstein investment is significant because it is only the second private investment the firm has ever made, according to Scott. The company made "eight digit" revenues in the first quarter, on an annual basis, but had only a "six digit" burn rate for the quarter, says Scott. So 3Par is at least break even, and turning profitable. And it is selling its services to some big names, including Merrill Lynch, Verizon, Priceline.com, MySpace.com and eHarmony. Sun invested in this company, but then Sun realized it had a competitor on its hands when 3Par stole a customer or two, and so Sun stopped investing in the company. Cisco and Veritas (since bought by Symantec) both invested earlier into 3Par too, but also passed this time around. ~stoney
NOW FOLKS! REVERSAL! TAKING OUT MONDAYS RALLY HIGH ! STONEY IS IN A GOOD MOOD I THINK I PICKED THE RIGHT STOCK TO GET ALL YOUR FEET WET AGAIN> fasten dem seatbelts! PAR PAR PAR PAR..... 75 cents off the low now up 50 cents... GRAPHSTERS WAKE UP!!!!!! ~stoney
oh 50_ bip you &5%67&&*** It just EXPLODED FOR A DOLLAR WHERE THE HELL IS TOPDOWN!!!! WHEN STONEY GIVES A MID DAY CALL DON'T EVEN WASTE A MOMENT DOING ANY DUE DILIGENCE!!!!!!!!! Chooo Choooo !!!!! ~ stoney
Folks use market weakness to pick up strong names. I believe Par qualifies... right on support good for $4 bucks here 40%..... Another strong name on the tape as of late has been ADSK... ~ si