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Non-Tech : Iomega Thread without Iomega

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To: Senthil Sankarappan who wrote (1418)	9/6/1998 1:22:00 PM
From: Rocky Reid	Read Replies (1) of 10072

IOM's fundamentals are weaker than ever. IOM's market cap is below $1 Billion (just as I said it would be) at $966 Million This is with an alarming 267 Million shares oustanding. IOM's shares outstanding has been increasing steadily up from 262 Million just a couple of months ago. This will drive IOM's stock price down even farther as more dilution occurs. Just look at SYQT. IOM's Book Value is $1.52. This is DOWN from $1.67 just one month ago. Iomega is a company clearly on the decline, as its basic value is dropping. IOM's PE is 129. I told everyone here that the market would not support an IOM PE of 300, and here we are. IOM's Price/Book is a 2.39 ratio. To give this some perspective, SEG (Seagate's) P/B is only 1.52. This means that if IOM were valued at the same P/B as Seagate (a basically much more respected company by Wall Street), IOM's price would be $2.38. That's right... $2.38. Iomega is currently at $3.63. This is a 35% drop down to $2.38 from here. IOM still has a long way to fall.

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