Data storage company Imation Corporation has reported an increase in revenue and profit for the fourth quarter. Net income was $24.7 million compared with $18.3 million the previous year and revenue was $334.4 million up 23% on last year’s $270.9 million. This increase was driven by a record $321.5 million in data storage and information management segment revenue, which the company says was fuelled by continued strong growth in recordable and rewriteable optical disk drives.
For the full year the company reported a net income of $81.8 million, up from $73.2 million in 2002, and revenue of $1.16 billion compared to $1.07 billion the previous year.
27-Jan-2004
