Imation Earnings: Everything You Must Know Now

Imation Corp. (NYSE:IMN) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.

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Imation Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased to $-0.31 in the quarter versus EPS of $-0.33 in the year-earlier quarter.

Revenue: Decreased 20.34% to $224.4 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Imation Corp. reported adjusted EPS loss of $0.31 per share. By that measure, the company missed the mean analyst estimate of $-0.22. It missed the average revenue estimate of $264 million.

Quoting Management: Imation President and Chief Executive Officer Mark Lucas commented: “Imation’s strategic transformation continues to center on leveraging our roots in data storage to build a platform for long-term growth and profitability. In the first quarter, our storage and security solutions business delivered strong results, led by our recently acquired NexsanTM portfolio of products. Additionally, we made good strides in reducing our operating costs and implemented our reorganization into two business units to streamline decision making.” Lucas continued, “Though we are making good progress, we are not yet where we need to be long-term and more work remains.”

Key Stats (on next page)…

Revenue decreased 24.97% from $299.1 million in the previous quarter. EPS increased to $-0.31 in the quarter versus EPS of $-0.71 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a loss of $0.08 to a loss $0.25. For the current year, the average estimate has moved down from a loss of $0.36 to a loss of $0.87 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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