Qualstar Corporation (QBAK) saw its loss narrow to $0.05 million, or $0.03 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $1.46 million, or $0.71 a share. Revenue during the quarter grew 15.06 percent to $2.67 million from $2.32 million in the previous year period. Gross margin for the quarter period stood at positive 28.54 percent as compared to a negative 1.51 percent for the previous year period. Operating margin for the quarter stood at negative 1.99 percent as compared to a negative 62.88 percent for the previous year period.
Operating loss for the quarter was $0.05 million, compared with an operating loss of $1.46 million in the previous year period.
"We are encouraged by our financial results and excited about future prospects,” stated Steven N. Bronson, chief executive officer and president of Qualstar Corporation. Mr. Bronson continued, "The expansion and revamping of our product line and investment in key aspects of the business have allowed us to build a stronger foundation which in turn has enabled us to be competitive. Additionally, the prudent financial controls that have been implemented during the last few years are delivering improved financial margins reinforcing the success of our turnaround strategy. We are also continuing to explore external opportunities to accelerate our top and bottom line numbers."
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