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These forward-looking statements are not guarantees of future performance and speak only as of the date hereof and as except as required by law, Compellent disclaims any obligation to update these forward-looking statements to reflect future events or circumstances. In addition, during today’s discussion, management will comment on both actual results and certain non-GAAP results. Reconciliation of actual results with these non-GAAP results is provided in today’s earnings release, which is available on our website at compellent.com.And now, I’d like to turn the call over to Phil Soran, President and CEO of Compellent. Phil? Phil Soran Well thank you, Jenifer, and thanks everyone for joining us today on our second quarter 2010 earnings call. With me is Jack Judd, our Chief Financial Officer. I’m excited to announce that this quarter Compellent demonstrated a return to our growth trajectory. Highlights include, our highest quarterly revenue of $36.5 million representing a 15% sequential increase from the first quarter and a 27% increase from one year ago. GAAP net loss of $172,000 or $0.01 per share loss and non-GAAP net income, which excludes stock-based compensation expense, was $1.5 million or a $0.04 per share profit. We added 182 new end-users for a total of 2,124. With this customer growth milestone and perspective it took us 4.5 years to reach 1,000 end-users. It took less than half that time during the next 1,000 Compellent customers. We did this by selling 100% through our all-channel model while achieving the highest levels of customer satisfaction in the industry. The last quarter, I talked about the commitment, energy and focus of our employees and our channel partners and I’m proud of our team’s execution in bringing this back on our growth track. This growth is fueled by enterprises adopting Compellent Fluid Data storage as the intelligent, easily-managed core of a virtualized data center. Our efficient technology offers significant advantages over incumbent storage vendors. When other vendors launch products with new promised capabilities, they can insert a customer decision point on whether they do a forklift upgrade in the new model. Well that represents the sales opportunity for Compellent.
And in the last three months, 182 new enterprises chose Compellent over competitive systems. Some of these new end-users include, Playboy Enterprises, one of the most recognized brands in the world select to Compellent Fluid Data because of our ease-of-use and scalability.VeriFone, a global leader in secure electronic payment services went with Compellent for our strong product feature set and apprehends this in strong relationship with our business partner Extensis. Starkey Laboratories, a leading global supplier of hearing aids and protection equipment shows Compellent due to the ease-of-use and economic benefits of our automated tiered storage. Wonderlic, which develops the standardized absolute test used by organizations like the National Football League drafted Compellent because our storage easily scales of that require and (inaudible) replace upgrades in future years. Other new customers chose Compellent for reasons such as performance, support, improved disaster recovery capabilities and the total cost of ownership. Customers like Advantage Sales & Marketing, KAVA which is the Royal Pharmaceutical Society of Antwerp, Belgium, and Sheffield Hallam University, in the United Kingdom. In each of these new end-user environments Compellent either beat or displaced larger legacy storage vendors. Now, let me talk a bit about market trends that are helping fuel our growth. One, our wider recognition of the benefits of our two automated storage – tiered storage. Two, our persistent storage architecture, three, the continuity for integrated block and file storage solutions and four the enterprise drive for its virtualization from the data center to the desktop. First, automated tiered storage. During this past few months, there has been a lot of talk about great automated tiered storage is. We agree and we feel we will stake our leadership in automated tiered storage. We invented our data progression technology years ago. Our customers are using it every single day and they’re saving money. For instance, Graves-Gilbert Healthcare Clinic saved $500,000 with data progression integrated with storage virtualization, snapshots and thin provisioning. Read the rest of this transcript for free on seekingalpha.com