For those IOM people who don't want to read bad news, don't read this:
FREMONT, Calif.--(BUSINESS WIRE)--Feb. 24, 1997--With a company-record $26 million backlog of orders, SyQuest Technology Inc.(NASDAQ:SYQT), today announced that it has begun full-scale shipment of its award-winning SyJet removable cartridge hard drive, the industry's first such product with a capacity of over one gigabyte. The revolutionary 1.5 GB SyJet drives and cartridges are now shipping to CompUSA, Best Buy, distribution giants Ingram and TechData, and soon to all SyQuest authorized outlets, the company said. "The SyQuest team has put a tremendous effort into developing SyJet, in order to produce a product that exceeds the rigorous demands of our customers," said Ed Harper, president and CEO."We are gratified by the overwhelming market response, conveyed both in current order backlog and in future sales potential. Fulfillment of these orders for SyJet will fortify our market position and further enable SyQuest to move forward with new products scheduled for later this year."
Commenting on SyJet, Phil Devin, Dataquest vice president and chief analyst, said: "This is an important product in the storage arena, not only because it has the highest capacity and is among the fastest in its class, but also because SyJet's price point makes it an exceptional value for the steadily increasing number of users working with extremely data-intensive applications." As the first removable cartridge hard drive with a storage capacity exceeding one gigabyte, SyJet supports the most demanding applications of users, with a maximum sustained read/write data transfer rate approaching 7MB/second and a SCSI burst rate of 10MB/second. Seek time at less than 12 milliseconds is among the fastest available.
In its March 1997 issue, MacUser Magazine reports that "SyJet has an impressive performance edge," over Iomega's 1 GB Jaz drive. SyJet has already won NewMedia Magazine's "Hyper Award" for innovative products and Desktop Engineering's "Readers' Choice" award. Internal SyJet units are priced at $399 and external SCSI configurations at $499. The Parallel Port package, including an external portable SCSI drive bundled with a parallel port converter cable, is $529. Quantity-based OEM discounts are available. Individual SyJet 1.5 GB data cartridges are $124.95 and a three-pack sells for $299.95.
Sounds like yet another excuse for IOM stock price to fall. For Iomega, any news is bad news. |
