Recordable media giant Imation has reported a
strong first quarter of 2004. The company which also sells CD and DVD
recordable media expects first quarter 2004 revenue and earnings to be
stronger than previously anticipated and above the range of analysts published
estimates. First quarter 2004 total revenue grew 24 percent to $339
million.
percent from a year ago, the eleventh quarter in a row of year-over-year data storage revenue growth, for an outstanding first quarter," said Imation Chairman and CEO Bill Monahan. "Our strategic growth initiatives, strong market position in our core media business, broad product portfolio and global presence produced broad-based growth in both optical and magnetic removable data storage media globally. In Q1, our operating margin was 9.9 percent. Our efficient cost structure and leverageable business model enabled us to capture growth opportunities at lower gross margins while delivering excellent operating margins and solid earnings," Monahan concluded. |
Imation does not manufacture CD and DVD recordable
but purchases large quantities of media and put their brand on them. If you are
curious to know if their media is generally good then visit our Media Forum.
Source: PRnewswire
