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Non-Tech : Any info about Iomega (IOM)?
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To: Dave Warren who wrote (6804)9/1/1996 1:18:00 PM
From: Stan Walker   of 58324
 
Dave, the news from your Ingram rep about the rebate being extended is both good news and bad. It's good in the sense that it tells me that the rebate program is doing what it was supposed to do, increase sales of Zip drives. Long term we will probably reap the rewards of this program. Short term is a different story. I think one of the reasons the stock has fallen so low is because of the rebates. It's like an open valve, letting the profits leak out. I was really hoping they would shut it on Sept. 15. I don't know how the company is going to do the accounting on the rebate but the rebate could come to more than 10% of 3rd quarter sales. I wonder how this will affect share price, part way into Iomega's biggest and best quarter in their history they report stellar revenues but a net loss for a "challenging" quarter. Stan
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