January 20, 2006 |
Imation Corp., a maker of data storage discs and tapes, said Thursday that it had agreed to buy Cerritos-based Memorex International Inc. for $330 million in cash and future payments of as much as $45 million. Imation also reported fourth-quarter operating profit of $18.4 million, or 52 cents a share, compared with $1.8 million, or 5 cents, a year earlier. The results beat analysts' average forecast of 48 cents a share. Shares of Imation, based in Oakdale, Minn., rose $2.35 to $47.
April 17, 1996 |
Morrison Knudsen said it reached an agreement in principle with creditors to swap all of its $386.3 million in debt for new stock, a move that all but assures a bankruptcy filing. . . . Minnesota Mining & Manufacturing chose the name Imation Corp. for the data storage and imaging business it is spinning off.
CALIFORNIA | LOCAL
August 22, 2000 |
Quintek Technologies Inc. in Camarillo said it has received an order from Imation Corp. for a system to be used at Imation's Document Management Demonstration Center in Oakdale, Minn. The Q4300 system will be used primarily for internal training and demonstration of dry silver aperture card uses to potential clients. Tom Sims, Quintek's president and chief executive, said the order represents a first step for placing more systems in the future.
December 16, 1997 |
Tom Ferguson, manager of Imation Corp.'s Camarillo plant, calls it good old-fashioned common sense. The California Integrated Waste Management Board calls it an extraordinary effort in corporate environmentalism. By whatever label, the facility's 72% reduction of landfill waste since 1990 is positive for the environment and good for the company's bottom line. It also has earned the Ventura County operation a top honor in the waste management board's 1997 Waste Reduction Award Program, or WRAP.
October 31, 1997 |
Imation Corp., reporting a third-quarter net loss on lower revenue, on Thursday said it would slash as much as 15% of its work force and take a $200-million charge in the current quarter to restructure its operations. The company, which manufactures data storage and imaging devices, recorded a net loss of $38.7 million, or 97 cents a share, in the third quarter, contrasted with net income of $41.7 million, or $1.05 a share, a year ago. Revenue declined to $529.5 million from $559.
CALIFORNIA | LOCAL
May 5, 1998 |
Imation Corp. of Camarillo has been recognized by state officials for finding innovative ways to reduce the amount of trash it generates. The computer parts manufacturer is one of 10 companies named in 1997 under the state's Waste Reduction Award Program.. Officials said Imation managed to keep significant amounts of waste out of landfills by donating old equipment to schools. The company has given more than three tons of computers, microscopes, diskettes and office supplies to area schools.