Imation Corp. (NYSE:IMN) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 15.00%.
Imation Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.11 in the quarter versus EPS of $-0.32 in the year-earlier quarter.
Revenue: Decreased 21.77% to $211.7 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Imation Corp. reported adjusted EPS income of $0.11 per share. By that measure, the company beat the mean analyst estimate of $-0.31. It missed the average revenue estimate of $220 million.
Quoting Management: Imation President and Chief Executive Officer Mark Lucas commented, “Imation’s second quarter performance was in line with our expectations. Our transformation continues and we are seeing signs of progress. We are focused on high-growth market segments in data storage and security, and have dedicated teams launching differentiated products to meet customer needs globally.”
Key Stats (on next page)…