Intraday Mover: Qualstar Corporation (NASDAQ:QBAK)

On 16 May Thursday, Qualstar Corporation (NASDAQ:QBAK) oscillated between $5.14 and $5.60 before concluding trading period lower/higher +13.36% at $5.60. The stock recorded total trading quantity of 9,674 shares as compared to its average volume of 6,259 shares. The firm has a total market worth of $6.26k and $10.971M shares remain outstanding.

Qualstar Corporation (QBAK) recently reported its financial results for the three and twelve-month periods ended December 31, 2018.

Year Ended December 31, 2018 Financial Results

Qualstar stated revenues of $12.2M for the year ended December 31, 2018, an raise of 15.1% contrast with $10.6M for the year ended December 31, 2017. Net income for the year ended December 31, 2018, was $1.5M or $0.73 per basic and $0.72 per diluted share. This compares with a net income for the year ended December 31, 2017, of $0.6M, or $0.31 per basic and diluted share.

Data Storage section revenues were $6.3M for the year ended December 31, 2018, contrast with $4.3M for the same period last year, an raise of $2.0M or 46.5%, primarily Because of new reseller relationships, whose consumers have a high demand for tape libraries and our joint venture with Sony Imaging Products & Solutions Inc. to develop an enterprise-class optical disk archive library. Power supply section revenues were $5.9M for the year ended December 31, 2018, contrast with $6.3M in the year ended December 31, 2017, a decrease of $(0.4)M, or (6.3)%, primarily Because of the variable life cycles of our consumer’s production.

Gross margin was 41.0% of revenues, or $5.0M, for the year ended December 31, 2018, an raise from the gross margin of 39.6% of revenues, or $4.2M, for the year ended December 31, 2017.

Quarter Ended December 31, 2018 Financial Results

Revenues for the quarter ended December 31, 2018, were $2.9M, contrast with $3.2M for the quarter ended December 31, 2017, a decrease of $(0.3)M or (9.4)%. Income from operations for the quarter ended December 31, 2018, was $0.02M contrast with $0.7M for the quarter ended December 31, 2017. Basic and diluted net income per share was $0.01 for the quarter ended December 31, 2018, contrast to per share of $0.33 for the quarter ended December 31, 2017.

Data Storage section revenues were $1.6M for the quarter ended December 31, 2018, contrast with $1.5M for the same period last year, an raise of $0.1M or 6.7%, primarily Because of new reseller relationships, whose consumers have a high demand for tape libraries. Power supply section revenues were $1.3M for the quarter, contrast with $1.6M in the quarter ended December 31, 2017, a decrease of $(0.3)M, or (18.8)%,Because of the production cycles of our consumers.

Gross margin was 31.0% of revenues or $0.9M for the quarter ended December 31, 2018, a decrease from the gross margin of 43.8% of revenues or $1.4M for the quarter ended December 31, 2017.

The company jumped 16.82% in past week and declined -3.43% in one month. During the past three month period the stock dropped -14.80% and increased 0.67% in past six month. During the twelve month it lost -41.71% and year to date performance of 6.14%.

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