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News Breaks
February 7, 2014
07:10 EDTIMNImation reports Q4 ex-items EPS 25c vs 16c last year
Reports Q4 revenue $232.8M, consensus $224.05M.
News For IMN From The Last 14 Days
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May 6, 2015
07:11 EDTIMNImation reports Q1 adjusted EPS (32c), one estimate (46c)
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April 27, 2015
07:14 EDTIMNImation urges holders to vote FOR company's nominees
Imation announced that it will mail a letter to shareholders in connection with the company’s 2015 Annual Meeting of Shareholders, scheduled for May 20. The Imation board unanimously recommends that shareholders vote the WHITE proxy card FOR the company’s three director nominees: Mark E. Lucas, L. White Matthews, III and David B. Stevens. The letter states, "As stated previously, we have held extensive discussions with many of our long-term shareholders throughout our transformation and have welcomed their input towards enhancing value. Your Board has been committed to change. This is the reason one-third of the Directors have been appointed in the last eight months and 80% of the independent directors have been added since March 2012. This is a board that has been substantially transformed. However, Clinton’s misguided proposals are anything but “fresh.” In fact, they are stale and pose a legitimate threat to our current strategic review process, our business operations and our ability to retain and attract employees. For instance, Clinton’s proposed overhaul of our existing TSS and CSA divisions into two new business segments, Legacy and Disk Storage, demonstrates its gross misunderstanding of Imation’s product lines, the markets in which they are sold and the makeup of our workforce. This ignorance could have been fully addressed had Clinton taken the opportunity to enter into the confidentiality agreement we proposed with no standstill agreement. By refusing to accept our offer, Clinton has clearly demonstrated that it has no desire to understand how your company functions, rendering it unable to provide relevant long-term value enhancing recommendations. As a result, giving Clinton’s nominees effective control of your Board is a recipe for value destruction."

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