Imation Warns Q4 Results Came Up Short Of Forecast

Imation (IMN) this afternoon warned that its Q4 results did not reach its previous guidance, noting that “continued global economic and industry softness has resulted in a significant sales shortfall from internal projections across both commercial and consumer product lines.”

The company, which makes a variety of data storage media, now expects to report revenue for the fourth quarter of $530 million to $540 million, with a loss of up to $7 million before restructuring and other charges. The previous forecast was for revenue of $560 million to $580 million and EPS of 11-23 cents a share before charges.

In today’s regular sessiosn, IMN rose 41 cents, or 2.,9%, to $14.41.