Imation Reports Second Quarter 2014 Financial Results

Company Posts Sequential Growth in Tiered Storage and Security
Solutions Revenue

OAKDALE, Minn.–(BUSINESS WIRE)–Jul. 31, 2014–
Imation Corp. (NYSE:IMN) today released financial results for the second
quarter ended June 30, 2014 that were in line with the Company’s
expectations.

Q2 Overview

For Q2 2014, Imation reported net revenue of $178.6 million, down 15.6
percent from Q2 2013. Gross margin for Q2 2014 was 19.0 percent versus
26.1 percent a year ago; Q2 2013’s results included a $13.6 million
reversal of a European levy accrual, or 6.4 points of gross margin.
Operating loss from continuing …

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