back to article Imation's losses deepen 500%. CEO says things are 'successful'

About turn! You never lack for excitement with Imation, which has turned the previous quarter’s $94m in revenues and near $10m in losses into this quarter’s $10.7m revenues and $91.1m losses. Oy vey, where did the money go? Let’s try and sort this amazing black hole of red ink – excuse the tortured metaphors – into some kind …

  1. Mikel

    Made a little money on this one recently

    Got in and out quick though. They need to stay above $1 or they will be delisted. It will be interesting to see if they can do it.

  2. asdf


    2010 – $365.8m

    2011 – $316.5m

    2012 – $263.3m

    2013 – $224.4m

    2014 – $178.9m

    2015 – $155.5m

    2016 – $10.7m

    That's some Darl McBride like value add.

    1. Mikel

      Re: wow

      This is how you game the quants. You have a "reset" year, and then carefully manage profits and cash flows so that it looks like you're a tiny startup on a logarithmic growth pattern. Defer revenues initially, booking profits years later. In year five you are back to where you were and generating revenues by selling to yourself (or a partner who is doing the same thing) and pre-booking fictional future profits just as your options vest at an insane 250 P/E. Then you take the money and run engage in pre-programmed sales as part of your personal wealth management diversification strategy.

    2. Anonymous Coward
      Anonymous Coward

      Re: wow

      That is what they call "revenue headwinds"... probably a macro thing.

  3. John 104 Silver badge

    I remember when iMation was a company that mattered. That was 20 years ago.

    1. Anonymous Coward
      Anonymous Coward

      I remember when Imation was a company that made crappy floppy disks that went bad at an alarming rate. But I also remember when Imation was called 3M and made good mainframe data tapes.

  4. Anonymous Coward
    Anonymous Coward

    This is why you don't listen to "Activist investors"

    They don't make money on stability and strength. They make money on volatility and mergers. Frankly every time I hear about the Clinton Group or the other activist investors ruining the tech sector I want to just puke.

  5. Cuddles Silver badge

    Not percentages

    "A year ago the net loss was $14.4m, now it’s $91.1m, a 532.6 per cent worsening."

    If their net loss had started at $0, it would be infinity percent worsening, and if they had actually made a profit (which they did at one point shown on that chart) it would go right through infinity and come out the other side. Using percentages in this situation really doesn't make a lot of sense; it's fine for revenue but profits can change sign and have discontinuities if you try using them as a ratio.

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