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Qualstar Corp (QBAK) SEC Filing 10-K Annual report for the fiscal year ending Saturday, June 30, 2012

Qualstar Corp

CIK: 758938 Ticker: QBAK
 
Exhibit 99.1



FOR IMMEDIATE RELEASE

For more information, contact:
 
Nicki Andalon
Annie Leschin/Vanessa Lehr
Vice-President & CFO
Investor Relations
Qualstar Corporation
StreetSmart Investor Relations
(805) 583-7744
(415) 775-1788
nandalon@qualstar.com
 
 
 
 
QUALSTAR REPORTS FISCAL 2012 FOURTH QUARTER AND FULL YEAR RESULTS

SIMI VALLEY, Calif., August 16, 2012
— Qualstar® Corporation (Nasdaq: QBAK), a manufacturer of data storage solutions and high-efficiency power supplies, today reported financial results for the fourth quarter and the fiscal year ended June 30, 2012.

Fiscal 2012 Fourth Quarter Financial Results
Revenues for the fourth quarter of fiscal 2012 were $4.3 million, compared to $4.7 million for the fourth quarter of fiscal 2011, a decrease of $0.4 million or 8.8%. Revenue was impacted by uncertainty related to the proxy contest, discounted sales of legacy library equipment and product mix. Loss from operations was $2.5 million compared to $96,000 in the fourth quarter of fiscal 2011. GAAP net loss was $2.6 million or $(0.22) per basic and diluted share. Excluding one-time charges of $1.0 million in inventory reserves, $0.3 million in legal fees and settlement costs and $0.4 million in proxy fees, pro forma non-GAAP net loss was $0.9 million or $(0.08) per share. This compares to a GAAP net loss of $37,000, or $0.00 per basic and diluted share for the fourth quarter of fiscal 2011.
 
 
 

The following information was filed by Qualstar Corp (QBAK) on Friday, August 17, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Definitive Proxy Statement (Form DEF 14A)
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Qualstar Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2012 10-K Annual Report includes:

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Balance Sheets
Balance Sheets (parentheticals)
Statements Of Cash Flows
Statements Of Operations
Statements Of Shareholders’ Equity
Accounting Policies, By Policy (policies)
Document And Entity Information
Note 1 - Accounting Policies
Note 1 - Accounting Policies (detail)
Note 1 - Accounting Policies (detail) - Allowance For Doubtful Accounts
Note 1 - Accounting Policies (detail) - Assets And Liabilities Measured At Fair Value On A Recurring Basis
Note 1 - Accounting Policies (detail) - Property Plant And Equipment Estimated Useful Lives
Note 1 - Accounting Policies (detail) - Summary Calculation For Basic And Diluted Loss Per Share
Note 1 - Accounting Policies (detail) - Summary Of Activity In The Liability For Product Warranty
Note 1 - Accounting Policies (tables)
Note 10 - Commitments
Note 10 - Commitments (detail)
Note 10 - Commitments (detail) - Future Minimum Lease Payments
Note 10 - Commitments (tables)
Note 11 - Segment Information
Note 11 - Segment Information (detail)
Note 11 - Segment Information (detail) - Revenue By Primary Geographic Operating Region
Note 11 - Segment Information (detail) - Schedule Of Segment Assets
Note 11 - Segment Information (detail) - Segment Revenue, Loss Before Income Taxes And Total Assets
Note 11 - Segment Information (tables)
Note 12 - Legal Proceedings
Note 12 - Legal Proceedings (detail)
Note 13 - Benefit Plans
Note 13 - Benefit Plans (detail)
Note 14 - Related Party Transactions
Note 14 - Related Party Transactions (detail)
Note 15 - Quarterly Results Of Operations (unaudited)
Note 15 - Quarterly Results Of Operations (unaudited) (detail) - Quarterly Results Of Operations (unaudited)
Note 15 - Quarterly Results Of Operations (unaudited) (tables)
Note 16 - Subsequent Event
Note 16 - Subsequent Event (detail)
Note 16 - Subsequent Event (detail) - Restructuring Costs
Note 16 - Subsequent Event (tables)
Note 2 - Marketable Securities
Note 2 - Marketable Securities (detail) - Summary Of Gross Unrealized Losses And Fair Value Of The Company’s Investments:
Note 2 - Marketable Securities (detail) - Summary Of The Contractual Maturities Of The Company’s Fixed Maturity Securities:
Note 2 - Marketable Securities (detail) - The Following Table Summarizes Marketable Securities By Security Type:
Note 2 - Marketable Securities (tables)
Note 3 - Inventories
Note 3 - Inventories (detail)
Note 3 - Inventories (detail) - Inventories Consist Of The Following:
Note 3 - Inventories (tables)
Note 4 - Property And Equipment
Note 4 - Property And Equipment (detail) - Components Of Property And Equipment
Note 4 - Property And Equipment (tables)
Note 5 - Accrued Payroll And Related Liabilities
Note 5 - Accrued Payroll And Related Liabilities (detail) - The Components Of Accrued Payroll And Related Liabilities Are As Follows:
Note 5 - Accrued Payroll And Related Liabilities (tables)
Note 6 - Other Accrued Liabilities
Note 6 - Other Accrued Liabilities (detail) - The Components Of Other Liabilities Are As Follows:
Note 6 - Other Accrued Liabilities (tables)
Note 7 - Income Taxes
Note 7 - Income Taxes (detail)
Note 7 - Income Taxes (detail) - Deferred Income Tax Assets (liabilities):
Note 7 - Income Taxes (detail) - Summary Of Company's Uncertain Tax Positions:
Note 7 - Income Taxes (detail) - The Following Is A Reconciliation Of The Statutory Federal Income Tax Rate To Qualstar’s Effective Rate:
Note 7 - Income Taxes (detail) - The Provision For (benefit From) Income Taxes Is Comprised Of The Following:
Note 7 - Income Taxes (tables)
Note 8 - Preferred Stock
Note 8 - Preferred Stock (detail)
Note 9 - Share Based Stock Option Plans
Note 9 - Share Based Stock Option Plans (detail)
Note 9 - Share Based Stock Option Plans (detail) - Summary Of All Stock Option Activity
Note 9 - Share Based Stock Option Plans (detail) - Summary Of Fair Value Assumptions For Each Option Award:
Note 9 - Share Based Stock Option Plans (tables)
Ticker: QBAK
CIK: 758938
Form Type: 10-K Annual Report
Accession Number: 0001437749-12-009683
Submitted to the SEC: Fri Sep 21 2012 4:52:34 PM EST
Accepted by the SEC: Fri Sep 21 2012
Period: Saturday, June 30, 2012
Industry: Magnetic And Optical Recording Media

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