Dallas, Texas 02/18/2014 (FINANCIALSTRENDS) – Qualstar Corporation (NASDAQ:QBAK) the data storage solution, which also provides various power supplies announced its second quarter results ending Dec 31, 2013.
The company reported revenue of $3.4 million and flat growth year on year comparison. However, the revenue did show an increase of 57% in the first quarter. The growth was from $2.2 million last year to $3.4 million 2013. The revenues were found to have increased due to high storage sales. The increase was valued at $1.6 million and increase from $1.2 million previously. In terms of percentages this was 29% growth. The Power Supply segment revenue which the company recorded, showed an increase of 93% which attributed to $1.8 million over the earlier $953,000. The gross margin increase was reportedly between 22.9% and 43.9% which was valued at 21.0%.
Qualstar Corporation (NASDAQ:QBAK) also reported that the total operating expenses had fallen by nearly $1.2 million, which was 41% and valued at $1.8 million over the previous $3.0 million. The current restructuring expenses which the country reported were $26,000 over the previous $0. The net loss which the company reported was $251,000.
In comparison to 2012 quarter, ending Dec 31, 2013, Qualstar Corporation (NASDAQ:QBAK) reported that the revenue was $3.4 million. The gross margin increase was 6.1% in comparison to 43.9% from the previous 37.85. The operating expenses for the company were found to have decreased to 29.5% from the earlier $1.7 million. This was well over the $2.5 million, which excluded expenses towards restructuring.
Qualstar Corporation (NASDAQ:QBAK) expenses incurred for restructuring was 95%, moving from $26,000 to $511,000. The net loss for the company was $251,000 valued at $0.2 per share.
Qualstar Corporation(NASDAQ:QBAK) is a Californian company engaged in manufacturing, design as well as developing automated magnetic libraries for storage, management of electronic data and other network computing conditions.