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Thursday, May 30, 2024

Energy Supply Sales Help Qualstar in Q1

Sales of high efficiency power supplies to gaming manufacturers contributed to Qualstar Corp. narrowing its net loss for the first quarter when compared with the previous year. The Simi Valley-based company reported a net loss of $39,000, or $0.00, on revenues of $5.4 million for the quarter ending Sept. 30. For the same period a year ago the company had a net loss of $206,000, or $0.02 per diluted share, on revenues of $5.3 million. The first quarter revenues exceeded the guidance range and were helped by strong sales from the N2Power subsidiary, the maker of high efficiency power supplies, said Qualstar President and CEO Bill Gervais. N2Power brought in $1.6 million in revenues for the quarter. “N2Power is growing in importance as part of Qualstar’s overall business and we believe N2Power products will continue to generate strong demand due to worldwide requirements for smaller and more energy efficient power supplies,” Gervais said. Shares in Qualstar closed up at $2.20.

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