Qualstar: Fiscal 4Q23 Financial Results
Third consecutive year of revenue growth with CAGR of 9.5% since 2020
This is a Press Release edited by StorageNewsletter.com on February 15, 2024 at 2:03 pm| (in $ million) | 4Q22 | 4Q23 | FY22 | FY23 |
| Revenue | 2.8 | 3.4 | 9.8 | 10.6 |
| Growth | 21% | 8% | ||
| Net income (loss) | 0.2 | 0.3 | 0.1 | 0.1 |
Qualstar Corporation announced certain preliminary unaudited financial results for the quarter and year ended December 31, 2023.
Key Highlights:
• Third consecutive year of revenue growth, with a CAGR of 9.5% since 2020
• In 2023, repurchased 182,570 shares of its common stock at an average price of $2.86, in addition to 325,940 shares repurchased from 2021 to 2022
• Has no debt and a net book value of $3.46 per common share
• Committed to organic growth through ongoing product and sales expansion
• Seeking strategic acquisitions
“We are pleased with our preliminary 2023 financial results and believe we are well-poised for future success,” said Mr. Steven N. Bronson, CEO, “We also have recently engaged an independent auditor to perform audits of our 2022 and 2023 financial statements as part of our consideration to list our common stock on a securities exchange and to provide better access to the capital markets.”
Qualstar plans to release its complete 4FQ23 and FY23 audited financial results in April 2024.
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