Key Developments For Rimage Corp
Rimage Corp (RIMG.O) (Nasdaq)
Rimage Corporation Announces Management Transition
Rimage Corporation announced that Sherman L. Black, currently President and Chief Operating Officer, will become President and Chief Executive Officer and a member of the Board of Directors on January 1, 2010. He will succeed Bernard P. (Bernie) Aldrich, who will continue to serve as Chief Executive Officer and a Director through December 31, 2009. Aldrich, who has been Chief Executive Officer and a Director since joining Rimage in 1996, has agreed to provide consulting services during 2010.
Rimage Corporation Comments On Q4 2009 Guidance
Rimage Corporation announced that for fourth quarter of 2009, it expects sales to be at or near the third quarter level. Fourth quarter earnings will be affected by an increase of approximately $1 million of R&D spending for a strategic new product. The Company reported revenues of $22.4 million in third quarter of 2009. According to Reuters Estimates, analysts were expecting the Company to report revenues of $20.7 million and $0.25 for fourth quarter of 2009.
Rimage Corporation Announces Appointment of Sherman L. Black As President
Rimage Corporation announced the appointment of Sherman L. Black as President and Chief Operating officer. Black, is scheduled to start April 1, 2009.
Rimage Corporation Issues Q4 2008 Outlook; Revenue Outlook Below Analysts' Estimates
Rimage Corporation announced that for fourth quarter 2008, it expects earnings of $0.15 to $0.21 per diluted share on sales of $20 to $22 million. According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of $23 million and earnings per share (EPS) of $0.18 for fourth quarter 2008. The Company cited that the lengthened selling cycles for equipment that has resulted from the cautious attitude of many customers toward capital expenditures as the main reason for negative revenue outlook.
Rimage Corporation Issues Q3 2008 Guidance; EPS Guidance Above Analysts' Estimates
Rimage Corporation announced that for third quarter 2008 it expects earnings of $0.17 to $0.23 per diluted share on revenues of $21 to $23 million. According to Reuters Estimates, analysts are expecting the Company to report EPS of $0.08 for third quarter 2008.
