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Tuesday, Mar 19, 2024

Earnings: Qualstar, Interlink, Sienna Biopharmaceuticals

Qualstar Qualstar Corp. reported on Thursday net income of $671,000 (33 cents a share) for the fourth quarter ended Dec. 31, compared to a net loss of $407,000 (-20 cents) for the same quarter a year earlier. Revenue increased 45.5 percent to $3.2 million. The Simi Valley manufacturer of data storage and power supply equipment credited its sales increases to “new reseller relationships, whose customers have a high demand for tape libraries.” Shares of Qualstar (QBAK) closed Friday up $2.29 cents, or 25 percent, to $11.47 on the Nasdaq. Interlink Electronics Interlink Electronics Inc. reported on Thursday a net loss of $5,000 (0 cents a share) for the fourth quarter ended Dec. 31, compared to net income of $924,000 (12 cents) for the same quarter a year earlier. Revenue fell 15.3 percent to $2.4 million. Westlake Village electronics manufacturer attributed its lower revenue to “the loss of a major customer who implemented a design change in their automotive product.” Shares of Interlink (LINK) closed Friday up 11 cents, or 2 percent, to $5.60 on the Nasdaq. Sienna Biopharmaceuticals Sienna Biopharmaceuticals Inc. reported a fourth-quarter loss of $11.2 million (-56 cents a share) for the fourth quarter ended Dec. 31, as the biotech research company had no revenue. Chief Executive Dr. Frederick Beddingfield III said the company was looking forward to progress with its pipeline drugs, with data from five clinical trials scheduled for the next year. Despite the losses, shares of Sienna (SNNA) closed Friday up $1.07, or 6 percent, to $19.02 on the Nasdaq.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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