IOMC impact date in this news. Very thinly traded.
In addition to this new CD-RW coming in July, they also announced a new very low end (msrp $79.99 US) digital/pc camera that starts shipping in June.
Note - revenues have been down, costs up, and about 81% of their sales come from 3 customers, and AR end of the quarter was sitting at over $18MM - cash $1.445mm
Client list: iomagic.com
Maybe these new products will give them a boost.
"As of May 14, 2001, the number of shares of Common Stock issued and outstanding was 67,917,791"
Saturday June 2, 11:00 am Eastern Time
Press Release
I/OMagic Expands Its CD-RW Line-Up With External Firewire Drive
SANTA ANA, Calif.--(BUSINESS WIRE)--June 2, 2001--I/OMagic Corp. (OTCBB:IOMC - news), a leader in digital entertainment technology, multimedia and peripheral PC products, today announced that a new Firewire external 16x10x40 CD-RW drive that will expand its CD-RW product line-up is under development.
``Our goal is provide products that enhance and expand the PC users experience,'' said Tony Andrews, vice president of engineering and product development for I/OMagic. ``This new drive will feature a starting speed of 16x10x40 which will allow users to rip CDs with considerable speed.''
I/OMagic intends to include a software bundle in this package including the Nero Burning ROM. The company hopes to launch this new product in July 2001 with an MSRP of $229.
About I/OMagic
I/OMagic is a leader in digital entertainment technology, multimedia and peripheral PC products. Product categories include MP3 Players, Optical Storage Drives, Digital Imaging Products, Multimedia/Adapter Cards and Input/Output Devices. The company sells its many products through nationally recognized computer retail outlets.
Visit the I/OMagic Web site at www.iomagic.com. For more information, contact Nancy Andrews at 714/953-3000.
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Contact:
I/OMagic Corp., Santa Ana
Nancy Andrews, 714/953-3000 (product information)
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