Qualstar reports FY 2018 Q3 results

Qualstar Corporation (NASDAQ: QBAK), a manufacturer of data storage solutions and high-efficiency power supplies, has announced its financial results for the three and nine months ended September 30, 2018, the company said.

(All amounts are in thousands, except per share data):

Results for the Three Months Ended September 30, 2018 vs. 2017

Net revenue increased 14.5% to USD 3,154 from USD 2,755, total operating expenses decreased 29.7% to USD 848 from USD 1,206, and net income of USD 405 or USD 0.20 per basic and diluted share vs. net loss of USD 148 or USD (0.07) per basic and diluted share.

Results for the Nine Months Ended September 30, 2018 vs. 2017

Net revenue increased 24.9% to USD 9,320 from USD 7,461, total operating expenses decreased 8.4% to USD 2,634 from USD 2,876, and net income of USD 1,469 from a loss of USD 31, or USD 0.72 per basic and USD 0.70 per diluted share vs. (USD 0.02) per basic and diluted share

Qualstar, founded in 1984, 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 N2Powerâ„¢ brand, and of data storage systems marketed under the Qualstarâ„¢ brand. More information is available at www.qualstar.com or www.n2power.com.