Qualstar Corp (QBAK) 10-Q Quarterly Report November 2017

SIMI VALLEY, Calif., November 8, 2017 — Qualstar Corporation (Nasdaq: QBAK), manufactures and markets data storage solutions and high-efficiency power supplies, today announced its financial results for the third fiscal quarter ended September 30, 2017.

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

Results for the Three Months Ended September 30, 2017 vs. 2016

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Net revenue increased 3.3% to $2,755 from $2,666

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Total operating expenses increased 48.2% to $1,206 from $814

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Net loss of $148 or ($0.07) per basic and diluted share vs. net loss of $53 or ($0.03) per basic and diluted share

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Non-GAAP net income of $265 or $0.13 per basic and diluted share vs. net loss of $53 or ($0.03) per basic and diluted share

Results for the Nine Months Ended September 30, 2017 vs. 2016

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Net revenue increased 3.8% to $7,461 from $7,186

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Total operating expenses decreased 3.4% to $2,876 from $2,977

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Net loss of $31 or ($0.02) per basic and diluted share vs. net loss of $803 or ($0.39) per basic and diluted share

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Non-GAAP net income of $382 or $0.19 per basic and diluted share vs. net loss of $801 or ($0.39) per basic and diluted share

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Cash provided by operations of $982 vs. cash used by operations of $285

Highlights for the Three and Nine Months Ended September 30, 2017

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Solid balance statement, no debt and cash, restricted cash & cash equivalents increased by $972 to $4,763 from $3,791 as of December 31, 2016

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Increased gross profit margins for the three months ended September 30, 2017 from the same period last year by 9.9% and for the nine months ended September 30, 2017 by 7.7% from the same period last year

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Non-GAAP financial measures exclude the impact of stock-based compensation

“We continue to make substantial progress in driving profitability and positioning our business for long term success. We expect to finish the year with revenue growth in both business units and solid bottom line results” said Steven N. Bronson, CEO and President of Qualstar.

The following information was filed by Qualstar Corp (QBAK) on Wednesday, November 8, 2017 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Qualstar Corp provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: QBAK
CIK: 758938
Form Type: 10-Q Quarterly Report
Accession Number: 0001437749-17-018697
Submitted to the SEC: Wed Nov 08 2017 4:21:20 PM EST
Accepted by the SEC: Wed Nov 08 2017
Period: Saturday, September 30, 2017
Industry: Magnetic And Optical Recording Media