Any info about Iomega (IOM)? Message Board

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Non-Tech : Any info about Iomega (IOM)?

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To: ben luong who wrote (42366)	1/5/1998 1:31:00 AM
From: Michael Coley	Read Replies (1) of 58324

RE: Psychic SEC S-8 Filing? Iomega NOT Buying Back 3MM Shares. Ben, >> I was informed that in the last week of DEC. IOM bought back: << >> From EDGAR SEC 12/8/97 S-8: << >> (including the associated Stock Purchase Rights) 3,000,000 $30.75(1) << How could a filing from 12/8 inform about purchases made at the end of December? You've misunderstood the filing. This is new issuance of stock--almost the opposite of a stock buyback. Also, to those who said that a large stock buyback like this would be a good idea... I say (with all due respect) "What! are you nuts?" They're doing fine with cash right now, but to use it for a major stock buyback would be suicide. They will need that cash to ramp up new products. For a company growing as fast as IOM, their Current Ratio of 1.86 is almost perfect. To spend cash on stock would lower that ratio. - Michael Coley - i1.net

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