Qualstar Corp (QBAK)

[Enterprising Investor]

Qualstar Announces the Departure of Executive and Ongoing Progress With Its Cost Reduction Efforts (11/05/13)

SIMI VALLEY, CA--(Marketwired - Nov 5, 2013) - Qualstar Corporation (NASDAQ: QBAK), a manufacturer of data storage solutions and high-efficiency power supplies, today announced the departure of William J. Lurie the Company's Vice President of Engineering.

In furtherance of the Company's efforts to reduce Qualstar's cost structure, the Company eliminated the position of Vice President of Engineering and terminated the employment of William J. Lurie. Mr. Lurie's duties shall be distributed among other employees of Qualstar. "We believe that the successful turnaround of Qualstar requires that expenses need to be carefully controlled and we reduced a layer of management that is redundant for an organization our size," said Steven N. Bronson, CEO and President. Mr. Bronson continued, "We wish Bill all the success with his future endeavors."

Since July 2013, under the leadership of Steven N. Bronson, as CEO and President, and the new Board of Directors, the Company has made significant progress in reducing its overall expense structure in an effort to achieve the goal of making the Company profitable.

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.

http://www.marketwired.com/press-release/qualstar-announces-departure-executive-ongoing-progress-with-its-cost-reduction-efforts-nasdaq-qbak-1848775.htm