QBAK - Qualstar Corporation Reports Second Quarter 2023 Financial Results

August, 10 2023 09:00 AM Qualstar Corp

PR Newswire

IRVINE, Calif. , Aug. 10, 2023 /PRNewswire/ -- Qualstar Corporation (OTC Markets: QBAK), a leading manufacturer of data storage solutions and high-efficiency power supplies, today announced its financial results for the quarter ended June 30, 2023 .

Consolidated Financial Highlights











































(Amounts in thousands except per share data and percentages)



















































Three Months Ended June 30,

Six Months Ended June 30,
Consolidated Financial Results

2023


2022



?

% ?



2023

2022


?

% ?





























Net revenue

$
1,878


$
1,863


$
15

0.8
%

$
4,070

$
4,273


$
(203)

(4.8)
%
Gross profit

$
432


$
481


$
(49)

(10.2)
%

$
1,086

$
1,204


$
(118)

(9.8)
%
Gross margin


23.0
%


25.8
%








26.7
%

28.2
%


































(Loss) from operations

$
(271)


$
(321)








$
(328)

$
(283)



































Net (loss)

$
(277)


$
(389)








$
(290)

$
(350)



































(Loss) per share

$
(0.17)


$
(0.21)








$
(0.18)

$
(0.19)

Qualstar makes available its annual financial statements, quarterly financial statements, and other significant reports and amendments to such reports, free of charge, on its website as soon as reasonably practicable after such reports are prepared. Please visit www.qualstar.com to view the Company's financial results in more detail.

About Qualstar Corporation

Qualstar Corporation, founded in 1984, manufactures and markets data storage system products and compact, high efficiency power solutions.

Our data storage systems are marketed under the Qualstar™ brand and include highly scalable automated magnetic tape libraries used to store, retrieve and manage electronic data primarily in the network computing environment. Our products, sold through resellers, system integrators and OEMs, range from entry-level to enterprise and are a cost-effective solution for organizations requiring backup, recovery and archival storage of critical electronic information.

Our power solutions, marketed under the N2Power™ brand, include standard, semi-custom and custom versions and provide OEM designers with increased functionality while reducing thermal loads and cooling requirements and lowering operating costs. These products are sold to OEMs in a wide range of markets, including telecom/networking equipment, audio/visual, industrial, gaming and medical.

More information is available at www.qualstar.com and www.n2power.com or by phone at 805-583-7744.

Contact Information:

Steven N. Bronson
Chief Executive Officer
Qualstar Corporation
805-617-4419
IR@Qualstar.com

SOURCE Qualstar Corporation

Company Name:	Qualstar Corp
Stock Symbol:	QBAK
Market:	NASDAQ
Website:	qualstar.com

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