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To: Ken Pomaranski who wrote (8432)	3/20/1999 8:49:00 PM
From: HRP	Read Replies (2) of 10072

Ken, I argue that the profit from Zip drive sales decreases markedly each quarter on a year over year basis due to the increasing inclusion percentage. (Michael Coley, would you please add the inclusion percentage to your statistics?) Each quarter Iomega must make up the loss of profit from 100 MB Zip drives sales (relative to the same quarter of the previous year) from other products just to stand still. New models of Zip drives will make up some of the loss as will disk sales if the strong volume of disk sales continues beyond the last quarter when prices were reduced. However, I believe a substantial amount of Click drives must be produced and sold (not happening yet) if Iomega is to meet expectations in the coming quarters. Iomega's new management appears to be making laudable progress in its initiatives to reduce costs (forced by the increasing inclusion percentage). But, supply constraints (and resulting drop in share price) due to a connector is (supply your own expletives). Still cautious about taking a long position. hrp

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