Qualstar Corporation (NASDAQ: QBAK) board of directors has authorized a stock repurchase program to acquire up to USD750,000 of the company´s outstanding common stock, the company said.
Repurchases will be conducted through open market purchases, or through privately negotiated transactions. The repurchase program will terminate upon the completion of the purchase of USD750,000 of its shares or through November 21, 2017, if not all shares have been purchased by that date.
Qualstar is a diversified electronics manufacturer specializing in data storage and power supplies. Qualstar is a provider of high efficiency and high density power supplies marketed under the N2Power brand, and of data storage systems marketed under the Qualstar brand. N2Power power supply products provide compact and efficient power conversion for a wide variety of industries and applications. Qualstar data storage products are used to provide highly scalable and reliable solutions to store and retrieve very large quantities of electronic data.