Here's some more press:
Monday July 15 7:52 PM EDT
Iomega Corp sees no significant Zip, Jaz rival
PALO ALTO, Calif., July 15 (Reuter) - An outside spokesman for Iomega Corp said the company does not comment on market rumors, and that Iomega does not see "significant" competition for either its Zip or Jaz high capacity drives.
Earlier, traders and analysts had said comments by a shortseller, Meyer Berman of M.A. Berman & Co., on the CNBC programme Squawk Box had contributed to the stock's drop of 4-1/4 points, or 16 percent, to 22 in active volume.
"The company does not comment on rumors or things said by short-sellers," the spokesman said. Berman had said increasing competition would eventually catch up with Iomega.
Monday July 15 7:53 PM EDT
Iomega Corp sees no significant Zip, Jaz =2
However, the Iomega spokesman said Iomega is prepared for a fast rate of technological change and has not seen products in its market that would provide strong competition to its 100 megabyte Zip drive or its one gigabyte Jaz drive.
"In the high technology world competition is the name of the game and new products and new technologies are always coming along," the spokesman said. "However at the present time we don't see any product on the market or near the market that would significant competition for Zip or Jaz." |
