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Non-Tech : Any info about Iomega (IOM)?
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To: John Fairbanks who wrote (7510)9/24/1996 1:27:00 PM
From: Cogito   of 58324
 
John, you said "I really expect that 3rd quarter will be pretty good. I can't imagine that things could be bad with all of the sales activity I see going on around me in the stores."

I was thinking that way too, until I read the JP Morgan analysts report about why he was downgrading 3Q estimates. He said that while sales for September were quite strong, that would not make up for two slow months, in July and August.

I may be mistaken, but I think all the glowing reports we have heard from channel checks have been coming in since the end of August, beginning of September. My point is that yes, Zip, Ditto and Jaz drives seem to be flying off store shelves NOW, but it's still possible that the third quarter will be week. September is only one third of the quarter. To have a good quarter you need good sales throughout.

Please don't take me for a bear. I am quite bullish on Iomega. I am not predicting an earnings disappointment, relative to CURRENT analysts' estimates. But when I try to view things unemotionally, I can see why the estimates have been lowered.

Meanwhile, I am happy each day that KE is NOT warning that earnings will not meet estimates.

And I add my voice to those calling for caution in making predictions of a big upside surprize for 3Q. We've already been burned once by that.

- Allen Murdock
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