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Non-Tech : Any info about Iomega (IOM)?
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To: davesd who wrote (7980)9/29/1996 12:51:00 PM
From: Dale Stempson   of 58324
 
It seems that with Iomega's recent upward moves both in price and in volume, there is no longer any concern with the 3rd quarter earnings release. It would appear that the expected decreases in both earnings and sales are both insignificant and unimportant. I am enjoying seeing the price back in the 20s but remain concerned about 3rd quarter results. Actually I am more concerned about sales rather than earnings. If total sales do come in less than last quarter, and assuming that JAZ and ZIP OEM sales have increased, one could assume that ZIP retail sales have significantly dropped off their pace. If this is true, I will become even more concerned. The theory regarding the ZIP having reached its fad saturation point starts to become more interesting. I remain long Iomega but believe that their window of opportunity to become the standard is limited. They cannot afford to lose momentum. A poor 3rd quarter report will cause me to reduce my exposure, but I will increase my position with a good one. I believe this is a very important report because of where Iomega is in their growth curve and I have not yet written it off as history.

IMO, Iomega's current stock price could be justified if their 3rd quarter results surprise the street. However, if they come in below estimates, I believe we'll see a retest of the recent lows. I just bought some November 17-1/2 puts in order to protect my recent gains. It was expensive insurance, but cheap when you think that the huge recent jump in the stock price is not based on significant good news.
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