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Tuesday, Jan 31, 2023
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Earnings Roundup



– Magnetek Inc.

, an L.A.-based power control products and systems supplier, reported a net loss of $3.8 million (13 cents per diluted share) for the fourth quarter ended July 3, compared with a loss of $5.5 million (19 cents) for the like period a year ago. Revenues fell to $57.1 million from $66 million in the year-ago period.


Excluding income tax charges, Magnetek reported income from continuing operations of $300,000 (1 cent per diluted share) for the fourth quarter, compared with $1.7 million (6 cents) for the like period a year ago.



– Qualstar Corp.

, a Simi Valley-based automated magnetic tape libraries manufacturer, reported a net loss of $429,000 (4 cents per diluted share) for the fourth quarter ended June 30, compared with a loss of $16,000 (breakeven) for the like period a year ago. Revenues fell to $6.7 million from $7.7 million in the year-ago period.



– Peerless Systems Corp.

, an El Segundo-based digital imaging and networking company, reported net income of $1.1 (6 cents per diluted share) for the second quarter ended July 31, compared with a loss of $1.5 million (9 cents) for the like period a year ago. Revenues rose to $9.7 million from $6.3 million in the year-ago period.


The company expects third-quarter net income to exceed $500,000 and for revenue to range between $8.5 million and $9 million. Full-year net income is anticipated to exceed $4 million, up from previous guidance of being more than $2 million. Full-year revenue is expected to exceed $34 million.

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