Qualstar Corp. said it recorded a lower net loss in its fiscal fourth quarter compared to a year ago on improved operating efficiencies.
After Tuesday's market close, the Simi Valley-based manufacturer of automated tape storage solutions and high-efficiency power supplies reported net loss of $166,000 (-1 cent per share), compared with a net loss of $245,000 (-2 cents) in the prior year. Revenues fell 16 percent to $4.9 million.
For the year, the company recorded a net loss for fiscal 2008 of $753,000 (-6 cents) compared with a net loss of $1.4 million (-12 cents) in the prior year. Revenues increased 4 percent to $21.5 million. The company's N2Power product had record revenues of $4 million, a 34 percent improvement.
Chief Executive Bill Gervais noted in a conference call with investors that the company's gross margin over the year increased to 35 percent from 32 percent due to improvements in its manufacturing operations.
"It's too early to know if recent turmoil in the financial markets will impact our business," Gervais said. "However, none of the affected big-name companies are on our current sales pipeline list."
Qualstar shares were unchanged at $2.94 in Wednesday morning trading on the Nasdaq.
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