Qualstar Corporation (QBAK) Issues Quarterly Earnings Results
Qualstar Corporation (NASDAQ:QBAK) released its earnings results on Wednesday. The electronics maker reported ($0.07) earnings per share (EPS) for the quarter, Bloomberg Earnings reports. The firm had revenue of $2.76 million during the quarter. Qualstar Corporation had a negative return on equity of 8.96% and a negative net margin of 4.52%.
Qualstar Corporation (QBAK) traded up $0.75 during trading on Friday, reaching $9.54. 307,622 shares of the company traded hands, compared to its average volume of 80,047. Qualstar Corporation has a one year low of $2.62 and a one year high of $13.20.
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In related news, insider William J. Gervais sold 30,000 shares of the stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $7.65, for a total value of $229,500.00. Following the completion of the sale, the insider now directly owns 170,558 shares of the company’s stock, valued at approximately $1,304,768.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder William J. Gervais sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $7.05, for a total transaction of $70,500.00. Following the completion of the sale, the insider now directly owns 220,558 shares of the company’s stock, valued at $1,554,933.90. The disclosure for this sale can be found here. Insiders sold a total of 85,000 shares of company stock valued at $625,000 over the last three months. 28.20% of the stock is currently owned by insiders.
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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