To All: Some news articles:
PR Newswire, Thursday, October 17, 1996 at 17:15
ROY, Utah, Oct. 17 /PRNewswire/ -- Iomega Corporation (Nasdaq: IOMG) today announced that it will file an application to list its common stock, preferred stock purchase rights, and 6 3/4% convertible subordinated notes due 2001 on the New York Stock exchange. The company expects the common stock to begin trading under the new symbol "IOM" in the near future. "We feel that listing on the New York Stock Exchange is in the long term best interests of our shareholders," said Kim B. Edwards, President and CEO. "This is a natural step as the story of the new Iomega continues to unfold."
Iomega, founded in 1980 and publicly traded since 1983, has approximately 127 million common shares outstanding. Iomega Corporation provides personal computer storage solutions that help people manage their computer stuff -- anywhere. These solutions include: Zip drives and disks; Jaz one-gigabyte drives and disks; Ditto tape backup drives and tape cartridges; and the Bernoulli line of removable drives and disks. Used in homes, business, government and education, and by creative professionals, Iomega storage solutions are available through computer retail stores, resellers and major distributors. The Company can be reached at
800-MY-STUFF (800-697-8833) or 801-778-1000.
Reuters, Thursday, October 17, 1996 at 17:29
ROY, Utah, Oct 17 (Reuter) - Iomega Corp said it intends to move a substantial portion of its Zip, Jaz and Ditto
manufacturing to its new manufacturing facility in Penang, Malaysia after a re-evaluation of its contract manufacturing. As a result, Iomega said that it recently took over control from Seiko Epson of the subcontractor producing Zip drives in the Philippines and it is negotiating the transfer of its Jaz drive production from Sequel.
Reuters, Thursday, October 17, 1996 at 17:12
ROY, Utah, Oct 17 (Reuter) - Iomega Corp said that its
third quarter revenues jumped to $310.1 million, up from 84.7
million a year ago, as it reached two significant product
milestones in the quarter.
The company also said that its gross margins in the quarter were 26 percent of revenue, up from 25 percent of revenue in
the year earlier period. Earlier, Iomega reported third quarter earnings of $0.09 a share, up from $0.02 a year ago. According to First Call, the consensus estimate on Wall Street was for $0.07 a share. Iomega said its product milestones were the shipment of its
three millionth Zip drive worldwide and the shipment of its five millionth personal storage solution. "Indeed, for both the three and nine month periods of 1996, 97 percent of the revenue reported today was derived from the sales of our Zip, Jaz and Ditto personal storage solutions," said Kim Edwards, president and CEO. Iomega also said its balance sheet reflects $102 million of cash and equivalents at the end of September, short-term debt of $35 million and long-term debt of $66 million.NEW YORK, Oct 17 (Reuter) - Shares of Iomega Corp rose
1-5/8 to 24-1/2 after hours on Thursday, traders said.
Shares of Sybase (NASDAQ:SYBS) fell 7/16 to 17-3/4.
After the market closed, Iomega reported third qurter
earnings of $0.09 a share on revenues of $310.1 million,
compared to $0.02 a share on revenues of $84.7 million the
previous third quarter.
Sybase reported a third quarter loss of $0.69 a share
versus a profit of $0.02 a share last year. |
