*NEWS*IMATION Q3 UP,W/MEMOREX ACQUISITION

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*NEWS*IMATION Q3 UP,W/MEMOREX ACQUISITION

 user 2006-11-06 at 11:53:00 am Views: 45
  • #16796

    Imation Q3 boosted by Memorex acquisition
    NOV.2006
    — Oakdale (MN): Imation’s Q3 revenue, including revenue of $109.9
    million from the Memorex acquisition, has increased by 42.2 percent to
    $424.7 million from $298.6 million a year earlier.Excluding Memorex, Q3
    revenue was up 5.4 percent compared to Q3 2005.Q3 operating income of
    $28.3, or diluted EPS of $0.53 million, included $2.7 million of
    incremental stock-based compensation expense. Operating in Q3 2005 was
    $23.6 million or diluted EPS of $0.48.Driven by the Memorex
    acquisition, revenue increased by 73 percent in the Americas. Revenue
    grew by 27 percent in Europe. In Asia Pacific, revenue declined by 9
    percent, attributed to an aggressive pricing environment and a greater
    focus on higher gross margin business.