Qualstar Corporation (QBAK) Releases Earnings Results
Qualstar Corporation (NASDAQ:QBAK) released its earnings results on Wednesday. The electronics maker reported ($0.07) EPS for the quarter, Bloomberg Earnings reports. Qualstar Corporation had a negative return on equity of 6.89% and a negative net margin of 3.57%. The firm had revenue of $2.76 million for the quarter.
Qualstar Corporation (NASDAQ QBAK) traded down $0.11 during trading on Thursday, hitting $8.79. The company had a trading volume of 135,924 shares, compared to its average volume of 78,999. Qualstar Corporation has a 12-month low of $2.62 and a 12-month high of $13.20.
In related news, major shareholder William J. Gervais sold 5,000 shares of Qualstar Corporation stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $7.20, for a total transaction of $36,000.00. Following the completion of the sale, the insider now owns 180,558 shares of the company’s stock, valued at $1,300,017.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William J. Gervais sold 30,000 shares of Qualstar Corporation stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $7.65, for a total value of $229,500.00. Following the sale, the insider now directly owns 170,558 shares of the company’s stock, valued at approximately $1,304,768.70. The disclosure for this sale can be found here. Insiders have sold 85,000 shares of company stock valued at $625,000 in the last ninety days. Corporate insiders own 28.20% of the company’s stock.
Qualstar Corporation Company Profile
Qualstar Corporation is a provider of data storage systems marketed under the Qualstar brand and of power solutions marketed under the N2Power brand. The Company’s segments include Power Supplies and Data Storage. Under the Power Supplies segment, it designs, manufactures and sells open frame switching power supplies.
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