Imation Corp. (IMN) Releases Earnings Results, Misses Expectations By $-0.09 EPS

Imation Corp. (IMN) reported quarterly earnings results on Tuesday, May-10-2016. The company reported $-0.21 earnings per share for the quarter, missing the analyst consensus estimate by $-0.09. Analysts had a consensus of $-0.12. The company posted revenue of $10.70 million in the period, compared to analysts expectations of $11.00 million. The company’s revenue was down -31.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.32 EPS.

Imation Corp. opened for trading at $1.6 and hit $1.7 on the upside on Friday, eventually ending the session at $1.68, with a gain of 3.70% or 0.06 points. The heightened volatility saw the trading volume jump to 98,119 shares. Company has a market cap of $62 M.

In a different news, on Mar 14, 2016, Robert B. Fernander (CEO) purchased 6,900 shares at $1.25 per share price. According to the SEC, on Mar 14, 2016, Perio Joseph A De (director) purchased 75,738 shares at $1.29 per share price. On Dec 1, 2015, John P Breedlove (VP, General Counsel & Corp Sec) sold 15,000 shares at $1.94 per share price, according to the Form-4 filing with the securities and exchange commission.

Imation Corp. is a data storage and security company. The Company operates in two business segments: Tiered Storage and Security Solutions (TSS) and Consumer Storage and Accessories (CSA). The Company has four product categories: Storage and Security Solutions and Commercial Storage Media in its TSS business segment and Consumer Storage Media and Audio and Accessories in its CSA segment. Its brands include Imation Nexsan IronKey TDK Life on Record TREK and Memorex. The Company markets its products through a combination of distributors wholesalers value-added resellers (VARs) original equipment manufacturers (OEMs) and retail outlets.

Imation Corp.

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