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Imation Corp

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BUSINESS
October 6, 2000 | Reuters
Data storage and imaging systems maker Imation Corp. said third-quarter results will be disappointing and disclosed it had retained an investment bank to explore strategic options for the company, which include financial restructuring, spinoffs, divestitures and joint ventures.
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BUSINESS
January 20, 2006 | From Reuters
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.
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BUSINESS
February 5, 1998 | From Times Wire Services
Imation Corp. said Wednesday that it will cut more jobs than planned after fierce price competition in computer floppy disks and other products led to a greater-than-expected 92% decline in fourth-quarter profit. The maker of data storage and imaging products said it will eliminate 1,700 jobs, or 17% of its work force, by year-end, up from an October estimate of 1,000 to 1,500 jobs. It also plans to reorganize its European business, sell its CD-ROM unit and combine plants. Its shares rose $2.
BUSINESS
October 6, 2000 | Reuters
Data storage and imaging systems maker Imation Corp. said third-quarter results will be disappointing and disclosed it had retained an investment bank to explore strategic options for the company, which include financial restructuring, spinoffs, divestitures and joint ventures.
BUSINESS
January 20, 2006 | From Reuters
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.
BUSINESS
April 17, 1996 | Times Staff and Wire Reports
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 | BARBARA MURPHY
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.
BUSINESS
December 16, 1997 | LEO SMITH, SPECIAL TO THE TIMES
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.
BUSINESS
October 31, 1997 | From Times Wire Services
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 | CHRIS CHI
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.
CALIFORNIA | LOCAL
August 22, 2000 | BARBARA MURPHY
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.
BUSINESS
February 5, 1998 | From Times Wire Services
Imation Corp. said Wednesday that it will cut more jobs than planned after fierce price competition in computer floppy disks and other products led to a greater-than-expected 92% decline in fourth-quarter profit. The maker of data storage and imaging products said it will eliminate 1,700 jobs, or 17% of its work force, by year-end, up from an October estimate of 1,000 to 1,500 jobs. It also plans to reorganize its European business, sell its CD-ROM unit and combine plants. Its shares rose $2.
BUSINESS
December 16, 1997 | LEO SMITH, SPECIAL TO THE TIMES
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.
BUSINESS
October 31, 1997 | From Times Wire Services
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.
BUSINESS
April 17, 1996 | Times Staff and Wire Reports
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.
BUSINESS
January 7, 1997 | LEO SMITH
Mayerson Marketing & Public Relations of Westlake Village has been awarded the contract to provide editorial services for a new community newsletter published by UCLA's Neuropsychiatric Institute & Hospital. The Ventura County firm will research, write, edit and manage the newsletter for the facility, which for the last five years has been named best psychiatric hospital in the western United States by U.S. News and World Report.
BUSINESS
February 25, 1997 | BARBARA MURPHY
Thomas J. Ferguson has been appointed plant manager for Imation Corp.'s Camarillo facility. He will replace Charles M. Byrne, who has been appointed the company's corporate manager for data storage global business process systems. Imation changed its name last year when it broke off from 3M Corp. Ferguson has held several key positions with Imation and 3M, most recently as plant manager of the Imation plastic molding and high-speed assembly facility in Wahpeton, N.D.
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