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Non-Tech : Any info about Iomega (IOM)?
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To: Fernando J. Pineda who wrote (2868)6/13/1996 4:35:00 AM
From: Guy Gordon   of 58324
 
Fernando: I can't do better than this:

"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."

I have seen this mis-quoted by several people. Let's get it straight:

1. The company AND 3'rd party partners CURRENTLY have capacity to produce 5M Zip drives in 1996.

2. An Iomega PRODUCT MANAGER let slip that they expect to have 8M total shipped by the end of 1996. I don't know how many shipped in 1995, but I guess .5 to 1M. This leaves 7 - 7.5 million in 1996.

And that is my best guess. 7 - 7.5 million Zips in 1996. Iomega is running production 24 hours a day. They will use some of that money from the secondary to add new capacity.
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