back to article Dear Imation. It's always darkest just before it goes pitch black

Nexsan-owner Imation's second quarter of 2016 marked its tenth straight quarterly loss. But hey, at least it was the smallest loss of the ten. Revenue from the three months to June 30 was $10.6m, down 37 per cent from the year-ago quarter's $16.9m, and a smidge less than the prior quarter's $10.7m. Imation said this was due …

  1. Anonymous Coward
    Anonymous Coward

    "Tenth straight loss-making quarter for Nexsan owner as sales plunge 37 per cent"

    Wow, who knew they still had 37% to lose...

    1. Stuart 22

      "Tenth straight loss-making quarter for Nexsan owner as sales plunge 37 per cent"

      Wow, who knew they still had 37% to lose..."

      Given that 37 is a prime number does that mean they sold at least 100 units last year or $100 or $1 ;-)

  2. Ashley_Pomeroy

    "It could be that the purpose of your life is only to serve as a warning to others"

    1. asdf Silver badge

      Often caused by "Meetings because none of us are as dumb as all of us."

      1. paulf Silver badge

        May I offer: "Action will be taken to prevent the next disaster as soon as possible after it has occurred."

  3. Anonymous Coward
    Anonymous Coward

    'In the second quarter, Imation's newly formed asset management subsidiary received approval from the SEC as a registered investment advisor'

    We're a technology firm that's made a loss 10 quarters in a row. Pay us for advice on how to protect and grow your financial portfolio.

    Yes, that seems like a winning strategy.

  4. Mikel

    Getting things under control

    It takes a while for the fixes to show. I think they'll be OK.

    1. paulf Silver badge
      Facepalm

      Re: Getting things under control

      I think if those fixes take much longer they won't survive to reap the promised benefits. A company that deals with bad numbers each quarter by cutting stuff each quarter is a dying company in a nose dive spiral. Cutting today's R&D means fewer products to sell 1-2 years down the line which means lower revenues, which means bad quarterly numbers (wash/rinse/repeat).

  5. SniperPenguin

    RIP Nexsan..... I hope they come out of this OK, its a decent bit of kit.

POST COMMENT House rules

Not a member of The Register? Create a new account here.

  • Enter your comment

  • Add an icon

Anonymous cowards cannot choose their icon

Biting the hand that feeds IT © 1998–2019