PR Newswire Press Release:
ROY, Utah, June 3 /PRNewswire/ -- Iomega Corporation (Nasdaq: IOMG) announced today that it has amended its registration statement relating to its proposed equity offering by adding the following:
"On May 30, 1996, an article in Bloomberg Business News reported that an Iomega Product manager had stated that the Company `shipped 1.5 million (Zip drives) so far and could have 8 million delivered by the end of the year.' This individual was not authorized by management of the Company to make such a statement, and this statement does not reflect the Company's internal operating plan for zip shipments from the introduction of the product in March 1995 through the end of 1996. Management believes that the Company, through internal manufacturing resources and its third-party manufacturing relationships, currently has the capacity to produce approximately 5 million Zip drives during 1996. However, there can be no assurance that the Company will receive orders for, or deliver, all such Zip drives. To date, approximately 2 million Zip drives have been sold since the product's introduction in March 1995. Prospective investors should not rely on the statement appearing in the Bloomberg Business News article as being authorized by the Company or as being accurate."
-0- 6/3/96
/CONTACT: Iomega Corporation Investor Relations, 801-778-3585, or Howard Kalt of Kalt-Rosen & Associates, 415-397-2686/ |
