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Technology / AI and automation

COMPANY RESULT: IMATION CORP

Imation Corp, the Oakdale, Minnesota-based maker of imaging and data storage products, has reported fourth-quarter net income of $36.9m, or $0.94 per share, on revenue down 14.1% at $489.2m, compared to a net loss of $157.8m in the year-ago period. For the year, net income was $57.1m, or $1.45 per share, on revenue down 7.1% at $2.05bn, against a loss of $180.1m last year. Results include a one-time gain on the sale of the company’s medical imaging business of $65m, while full-year results also include a gain of $16.8m from the reversal of previously-recorded restructuring charges. Year-ago results for both periods include restructuring charges of $170m.

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CBR Staff Writer

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