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Thursday, Mar 28, 2024

Loss Mounts Up at Qualstar

Automated tape storage and power products supplier Qualstar Corp. widened its net loss in the fourth quarter when compared with the previous year. The Simi Valley-based company had a net loss of $1.2 million, or $0.10 per diluted share, on revenues of $3.8 million for the quarter ending June 30. For the same period in 2008, the company had a net loss of $166,000, or $0.01 per diluted share, on revenues of $4.9 million. For fiscal 2009, Qualstar had a net loss of $2.6 million, or $0.21 per diluted share, on revenues of $17.9 million. For the previous fiscal year, the company had a net loss of $800,000, or $0.06 per diluted share, on revenues of $21.5 million. The quarterly revenues were within the company’s guidance guidelines although a decrease in sales was due to customers delaying on making purchases, said Qualstar President and CEO Bill Gervais. Mark R. Madler

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