Any info about Iomega (IOM)? Message Board

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

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To: Craig Richards who wrote (57265)	7/17/1998 12:46:00 PM
From: Ken Pomaranski	Read Replies (1) of 58324

Craig, good response: << Did you listen to the conference call? They talked about a lot of ways they are planning on saving money. Linda posted a link to a statement that they will shave $50 million of operating expenses for the 2nd half of the year. etc..>> My question for the bulls is this: Did you buy Iomega because it was a great growth company? Or did you buy it because they are reporting flat revenues (no growth) but will cut costs to make money again? I can't believe the 4% revenue drop doesn't bother the bulls more. This is really bad in my mind... Quite simply, Iomega is not a growth company anymore. They need to scrap as much as possible to make their ONE REMAINING business profitable again, so that they can throw the ultimate Hail Mary: CLIK! The problem is, I really don't see CLIK! making the large splash that ZIP did. In fact, it may barely offset the revenues from the fledging JAZ business. One business replaces another... One last thing: I think the stock may actually run a bit into Q4. Don't be fooled. When Iomega posts a loss in Q4 after pre-announcing a gain, there will be no bottom left. Management put a bottom under this stock by promising earnings in Q4. NOT by growing the business, but by cuts. THIS IS KEY. You must understand the implications of this... kp

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