Imation Is Too Dependent On Declining Markets
Confusion Over Imation Restructuring Creates Tremendous Buying Opportunity
SpearPointLLC • 11 Comments
SpearPointLLC • 11 Comments
Mon, Aug. 8, 8:02 AM
Sun, Aug. 7, 5:30 PM
Tue, Jul. 19, 3:39 AM
- Scientists reveal method for storing rewritable digital data at record density.
- Involves rearranging individual chlorine atoms on a sheet of copper.
- Provides roughly 100x more data per square inch than the world's most efficient hard drive.
- Could write the entire contents of the Library of Congress in a space smaller than a dust mite.
- Key challenge is speed.
- Source links: Nature, Popular Mechanics
- Also see Richard Feynman's There's Plenty of Room at the Bottom lecture
- Disk drive stocks: OTCPK:CBEX, EMC, HILL, HTCH, IBM, IMN, IVAC, NTAP, QBAK, SXCL, SMIT, STX, VECO, WDC
Thu, Jun. 9, 10:51 AM| Thu, Jun. 9, 10:51 AM | 2 Comments
Tue, May 10, 9:10 AM
Mon, May 9, 5:30 PM| Mon, May 9, 5:30 PM | 1 Comment
Fri, Apr. 8, 7:22 AM
- Imation Corp. (NYSE:IMN) acting in concert with Clinton Group has notified Arlington Asset Management (NYSE:AI) of its intent to nominate its own slate of board members at the 2016 annual meeting.
- Arlington management notes Imation is an IT data storage and security company which the Clinton Group took control of about one year ago. Together Imation and Clinton own less than 0.1% of AI stock, and it was very recently purchased.
- Arlington also notes what it calls questionable self-dealing by Clinton/Imation since the Clinton Group took control of the board there, not to mention a sharp decline in the stock price.
- Source: Press Release
- Now read: Arlington Asset Investment Corporation: Why Shares Keep Falling
Tue, Mar. 8, 9:07 AM
- Imation (NYSE:IMN): Q4 EPS of -$0.13 beats by $0.16.
- Revenue of $94M (-52.3% Y/Y) beats by $7M.
Mon, Mar. 7, 5:30 PM
Fri, Jan. 8, 2:48 PM
- Imation (IMN +3.4%) is selling its Oakdale, MN corporate HQ for $11.5M, and its Memorex trademark and two associated trademark licenses for $9.4M.
- The sales are declared to be "consistent with the Company's stated restructuring, wind down process, and liquidation of its legacy business assets." follow Imation's $7.5M October purchase of Connected Data, a maker of file-syncing/sharing appliances for private cloud infrastructures, and the $4.9M August sale of the company's RDX removable disk line to Sphere 3D.
Dec. 21, 2015, 12:45 PM
Nov. 6, 2015, 7:04 AM
- Imation (NYSE:IMN): Q3 EPS of -$0.93 misses by $0.49.
- Revenue of $129.2M (-26.2% Y/Y) misses by $22.6M.
Nov. 5, 2015, 5:30 PM
Aug. 13, 2015, 4:05 PM
- Sphere 3D (NASDAQ:ANY) has acquired Imation's (IMN -1.8%) RDX removable disk backup storage line for $4.9M (based on Sphere 3D's Aug. 6 close) plus the net value of $1.4M worth of inventory. The payout is entirely in stock.
- The RDX line had revenue of $14.5M over the 12 months ending June 30. Sphere 3D asserts the deal gives it "greater control over the backup appliance components" of its storage hardware/software lineup.
- It also sees an opportunity to expand RDX's sales in North America and Japan - the business currently relies heavily on Europe. Sphere 3D already sells RDX-based products under the Tandberg Data label.
- Notably, Sphere 3D says the purchase will be immediately accretive on a gross margin basis, but doesn't make any such promise regarding earnings accretion. Shares plunged following the announcement, and have closed at $3.21.
Aug. 10, 2015, 5:07 PM
- Imation (NYSE:IMN): Q2 EPS of -$0.42 beats by $0.01.
- Revenue of $150.6M (-15.7% Y/Y) misses by $0.8M.
Aug. 9, 2015, 5:35 PM| Aug. 9, 2015, 5:35 PM | 13 Comments