"Tenth straight loss-making quarter for Nexsan owner as sales plunge 37 per cent"
Wow, who knew they still had 37% to lose...
Nexsan-owner Imation's second quarter of 2016 marked its tenth straight quarterly loss. But hey, at least it was the smallest loss of the ten. Revenue from the three months to June 30 was $10.6m, down 37 per cent from the year-ago quarter's $16.9m, and a smidge less than the prior quarter's $10.7m. Imation said this was due …
'In the second quarter, Imation's newly formed asset management subsidiary received approval from the SEC as a registered investment advisor'
We're a technology firm that's made a loss 10 quarters in a row. Pay us for advice on how to protect and grow your financial portfolio.
Yes, that seems like a winning strategy.
I think if those fixes take much longer they won't survive to reap the promised benefits. A company that deals with bad numbers each quarter by cutting stuff each quarter is a dying company in a nose dive spiral. Cutting today's R&D means fewer products to sell 1-2 years down the line which means lower revenues, which means bad quarterly numbers (wash/rinse/repeat).
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