Memorex 2013 Annual Report Download - page 12

Scott J. Robinson, age 47, is Vice President, Corporate Controller and Chief Accounting Officer. He was appointed
Vice President in February 2010 and was appointed Corporate Controller and Chief Accounting Officer in August 2007. He
joined Imation in March 2004 and held the position of Chief Accountant until August 2007. Prior to joining Imation, he was at
Deluxe Corporation, where he held the position of Assistant Corporate Controller from August 2002 to March 2004 and held
the position of Director of Internal Audit from June 1999 to August 2002.
R. Ian Williams, age 43, is Vice President and Group President, Tiered Storage and Security Solutions. He joined
Imation in February 2011 as Vice President for Global Marketing and Product Management. Prior to joining Imation, from
2006 to January 2011, he was the executive director of near-line enterprise storage for Seagate Technology, plc, a provider of
data storage products, a leader in hard disk drives and storage solutions. From 2004 to 2006, he served as Director of RAID
solutions and external storage for Adaptec Inc. From 2000 to 2004 and following Compaq’s acquisition by Hewlett-Packard
Company, a computer software and hardware and IT consulting and services company, Williams was Group Product
Manager for Hewlett-Packard’s enterprise storage, server storage and infrastructure products.
Paul R. Zeller, age 53, is Senior Vice President and Chief Financial Officer, a position he has held since May 2009. He
was Vice President and Chief Financial Officer from August 2004 to May 2009. He has been with Imation since spin-off and
held the position of Corporate Controller from May 1998 until August 2004. Prior to joining Imation, he held several accounting
management positions with 3M Company.
Availability of SEC Reports
The Securities and Exchange Commission (SEC) maintains a website that contains reports, proxy and information
statements, and other information regarding issuers, including Imation Corp., that file electronically with the SEC. The public
can obtain any documents that we file with the SEC at www.sec.gov. We file annual reports, quarterly reports, proxy
statements and other documents with the SEC under the Exchange Act. The public may read and copy any materials that we
file with the SEC at the SEC’s Public Reference Room at 100 F Street, N.E., Washington, D.C. 20549. The public may obtain
information on the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330.
We also make available free of charge through our website (www.imation.com) our Annual Report on Form 10-K,
Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and, if applicable, amendments to those reports filed or
furnished pursuant to the Exchange Act as soon as reasonably practicable after we electronically file such material with, or
furnish it to, the SEC.
Item 1A. Risk Factors.
Our business faces many risks. Any of the risks discussed below, or elsewhere in this Form 10-K or our other SEC
filings, could have a material impact on our business, financial condition or results of operations.
We must make strategic decisions from time to time as to the products and technologies in which we invest
and if we focus on products or technologies that do not perform in line with our strategic expectations or if market
conditions change, our financial results could be adversely impacted. In February 2011 we announced our
transformation strategy, which includes improving gross margins, exiting low margin products, introducing new products in
secure and scalable storage, and organic and inorganic growth. In October 2012 we announced the acceleration of our
transformation by reorganizing our businesses into two channel-focused business units, and increasing our focus on data
storage and data security. If we are not successful in implementing these strategies or if market conditions change adversely
for our chosen products or technologies, our financial results could be negatively impacted.
The future revenue growth of our business depends in part on the development and performance of our new
products. We have experienced revenue declines over prior year in 2013, 2012 and 2011 of $145.9 million or 14.5 percent,
$159.9 million or 13.7 percent and $135.7 million or 10.4 percent, respectively. Historically, magnetic and optical products
have provided the majority of our revenues. Demand for optical media products is decreasing due to a shift in the use of data
streaming and other media for storing data. The overall market has been impacted by industry wide dynamics, including
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