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Monday, May 20, 2024

Qualstar Loses Financial Power

High sales of its power supply products was not enough to make a positive fourth quarter for Qualstar Corp. The Simi Valley-based manufacturer of power supplies and automated tape storage products reported a net loss of $166,000, or $0.01 per diluted share, on revenues of $4.9 million for the quarter ending June 30. For the same period in 2007, the company reported net income of $245,000, or $0.02 per diluted share, on revenues of $5.8 million. For the full fiscal year, Quastar reported a net loss of $753,000, or $0.06 per diluted share, on revenues of $21.5 million. For the prior fiscal year, the company had a net loss of $1.4 million, or $0.12 per diluted share, on revenues of $20.6 million. For the quarter, sales in the power supply segment were $1.2 million, a 100 percent jump from the $560,000 in sales from the previous quarter. For the year, the power products brought in $4 million in sales. “We believe that N2Power products should continue to generate increasing revenues due to worldwide requirements for more efficient electronic devices,” said Qualstar President and CEO Bill Gervais.

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