Qualstar Corporation to Initiate Stock Repurchase Program
November 22 2016 - 11:10AM
Business Wire
Qualstar® Corporation (NASDAQ: QBAK) announced today that
the Company’s board of directors has authorized a stock repurchase
program to acquire up to $750,000 of the Qualstar’s outstanding
common stock. Repurchases will be conducted through open market
purchases, which may include purchases under a trading plan adopted
pursuant to Securities and Exchange Commission Rule 10b5-1, or
through privately negotiated transactions. Repurchases will be made
from time to time depending on market conditions and other factors.
There is no guarantee as to the exact number of shares to be
repurchased by the Company. The Company’s repurchase program will
terminate upon the completion of the purchase of $750,000 of its
shares or through November 21, 2017, if not all shares have been
purchased by that date.
About Qualstar Corporation
Qualstar, founded in 1984, is a diversified electronics
manufacturer specializing in data storage and power supplies.
Qualstar is a leading provider of high efficiency and high density
power supplies marketed under the N2Power™ brand, and of data
storage systems marketed under the Qualstar™ brand. Our N2Power
power supply products provide compact and efficient power
conversion for a wide variety of industries and applications
including, but not limited to, telecom, networking, broadcast,
industrial, lighting, gaming and test equipment. Our Qualstar data
storage products are used to provide highly scalable and reliable
solutions to store and retrieve very large quantities of electronic
data. Qualstar’s products are known throughout the world for high
quality and Simply Reliable™ designs that provide years of
trouble-free service. More information is available at
www.qualstar.com or www.n2power.com or by phone at
805-583-7744.
Cautionary Statement Concerning Forward-Looking
Statements
Statements used in this press release that relate to future
plans, events, financial results, prospects or performance are
forward-looking statements as defined under the Private Securities
Litigation Reform Act of 1995. All statements, other than
statements of historical fact, are statements that could be deemed
forward-looking statements. These forward-looking statements are
based upon the current expectations and beliefs of Qualstar's
management and are subject to certain risks and uncertainties that
could cause actual results to differ materially from those
expressed or implied by such forward-looking statements. The
information contained in this press release is as of the date of
this press release. Notwithstanding changes that may occur with
respect to matters relating to any forward looking statements,
Qualstar does not expect to, and disclaims any obligation to,
publicly update any forward-looking statements whether as a result
of new information, future events or otherwise. Qualstar, however,
reserves the right to update such statements or any portion thereof
at any time for any reason. Please refer to the risk factors
discussed in Qualstar’s filings with the U.S. Securities and
Exchange Commission including, but not limited to, Qualstar’s
Transition Report on Form 10-KT for the transition period July 1,
2015 to December 31, 2015, the “Management’s Discussion and
Analysis of Financial Condition and Results of Operations” section
of such Form 10-KT, and any subsequently filed reports. All of
Qualstar’s filings are available without charge through the SEC’s
website (www.sec.gov) or from Qualstar’s website
(www.qualstar.com).
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161122005782/en/
Qualstar CorporationSteven N. BronsonChief Executive Officer and
President805.617.4419
Qualstar (NASDAQ:QBAK)
Historical Stock Chart
From Aug 2024 to Sep 2024
Qualstar (NASDAQ:QBAK)
Historical Stock Chart
From Sep 2023 to Sep 2024