Wednesday, March 30, 2016
Qualstar Seeks Strategic Alternatives, Hints At Layoffs
Weestlake Village-based data storage and high efficiency power supply maker Qualstar said Wednesday that it is looking at "strategic alternatives", including "mergers, acquisitions and divestures", and also will make "personnel adjustments" to help it reduce operating expenses. Qualstar also said it will be consolidating its administrative and data storage team into its Simi Valley facility, and sublease its Westlake Village office, in order to reduce rent expenses. The move came as it announced a significant drop in its revenues for the quarter ended December 31st, 2015. Qualstar said had $2.6 million in revenues, compared with $3.5M in revenues for the same quarter in 2014. The company blamed a drop in data storage segment revenues on one-time international orders in the prior year, and a slow down by manufacturers during 2015 for its power supply segment.