The data storage business of Imation Corp has continued to grow faster than the overall market as the company gains market share in all three segments: network, data center and the desktop/mobile sectors. Bill Monahan, chairman and CEO of the Oakdale, Minnesota-based maker of imaging and data storage products, said that data storage and information management revenue in the first half increased 52% to $237.7m and now represents two-thirds of total revenue. Monahan said it also gained market share in digital proofing.
His optimism follows figures showing net income in the second quarter to June 30 up 164.5% to $12.7m on revenue 13.5% higher at $354.2m. Mid-term net income rose 176.4% to $18.8m on revenue that increased 5.2% to $695.4m. Net income per share is up 183.3% to $0.34 in the quarter and rose 188.2% to $0.49 for the six months.
