Tuesday, March 01, 2016

President Dan Jan Left Qualstar Company's fiscal year-end changed to December 31 from June 30

Qualstar Corporation has approved a change in the company's fiscal year-end to December 31 from June 30.

As a result of the change, the company's next fiscal year-end will be December 31, 2016. In addition, the company will file a transition report on Form 10-K for the six month period ending December 31, 2015. This change is being made by the company to better align the company's financial reporting calendar with its customer base.

"We changed our fiscal year-end to be aligned with our customers and suppliers, most of which utilize a calendar fiscal year-end of December 31," said Steven N. Bronson, president and CEO, Qualstar.
As the company begins the new year, management continues to reduce expenses and personnel to focus on profitability.  As part of these changes, Daniel K. Jan, president, will be leaving the company effective December 31, 2015 and Steven N. Bronson, CEO, assumes the additional title and responsibilities of president of Qualstar effective January 1, 2016.

Jan joined Qualstar in April 2014 to focus on providing customers with an expanded set of storage archival solutions and to re-engineering operations, while maintaining excellent service worldwide that is Qualstar's tradition. In addition, he played a key role in forging new OEM supplier relationships. He has been promoted to president of the company, as of May 2015, after having served as EVP since April 2014. He joined Qualstar from BDT Products, Inc., a subsidiary of Germany’s BDT Media Automation GmbH, in OEM tape automation. He served as president at BDT, spearheading growth in BDT’s worldwide sales for its tape and storage business. With over 25 years of industry experience spanning semiconductor memory to hard disks, optical, and tape storage technologies, he’s held leadership roles in Silicon Valley, where he spent 12 years, in companies ranging from high-performance blade server start-ups, optical storage designers, to IBM in their storage and peripheral devices groups who were deeply involved in HDD, tape, and RAID subsystem technologies.