Boston, MA 02/18/2014 (wallstreetpr) – Qualstar Corporation (NASDAQ:QBAK), which provides data storage solutions, reported consecutive tremendous improvement in its second quarter as compared to the first quarter of 2014. Some of the key achievements include a substantial increase in revenue by 57%, that is, from $2.2 million in the previous quarter to $3.4 million in the recent one. Power Supply revenues grew by as much as 93% to $1.8 million, while the storage revenue grew 29% to $1.6 million in the reported quarter. The company’s effort to align its cost structure could also be seen as the total operating expenses climbed down by $1.2 million, that is, 41% from the previous quarter’s expenses of $3 million to $1.8 million. The company has effectively been able to bring down the net loss from $0.21 per share to $(0.02) per share. Qualstar Corporation (NASDAQ:QBAK)’s CEO and President, Steven N. Bronson, expressed content with the company’s progress during the last six months and mentioned that it is looking over to expand to international locations like Europe and Asia.
Synthesis Energy Systems, Inc. (NASDAQ:SYMX) formed a joint-venture with Zhangjiagang Chemical Machinery in order to take a leading position in China in clean coal gasification. Under the deal, Zhangjiagang will infuse $16.5 million capital to acquire 65% stake in the venture, while Symx will contribute through allowing the exclusive use of its gasification technology in China as well as other emerging Asian markets, while retaining a share of 35%. However, lower gross profit margins of Synthesis Energy Systems, Inc. (NASDAQ:SYMX) have prompted the analysts to put a Sell rating to it for now.
Cray Inc. (NASDAQ:CRAY) appears to be shedding some gains after soaring to a 52-week high mark. Cray, renowned as a Supercomputer marketer and storage solution provider, reported better-than-expected fourth quarter reports late last week. Cray Inc’s EPS turned up at $1.48, substantially higher than the analyst forecast of $1.65.Moreover, it reported revenue of $307.4 million, which grew 62.8% year-over-year. Apart from Q4 upbeat, it also puts forth above-than-expected growth outlook for the fiscal year 2014 to 600 million revenue mark. This is 14% higher than the numbers reported in the previous year and above the market consensus of $596.3 million. On top of it, Cray Inc. (NASDAQ:CRAY)’s CEO Peter J. Ungaro’s comment that the IBM’s sale of Supercomputer business to Lenovo group is beneficial for its own sales helped to raise confidence among the investors.
