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Non-Tech : Iomega Thread without Iomega -- Ignore unavailable to you. Want to Upgrade?

To: Michael Coley who wrote (4040)	11/14/1998 8:46:00 AM
From: KM	Respond to of 10072

This is probably rehashed BS, but FWIW, from Street.com "Silicon Saturday": Iomega J. Michael Pinson (11/11) At first glance, numbers look good for disk drive maker Iomega (IOM:NYSE). Zip drive shipments are up 39%; Zip disk shipments are up 30%; operating expenses are down 34%; and inventory levels are down sharply. But on closer look, there are some warning signs, says financial analyst J. Michael Pinson of Pinson & Associates. Iomega's third-quarter revenue of $392 million was down 9% from the same period last year. And while total drive unit shipments showed a year-over-year increase, sales in the Americas declined 7%, to $268 million, compared with the third quarter 1997. This decline was primarily due to price reductions. News that competitor SyQuest (SYQT:Nasdaq) has been experiencing financial problems sent Iomega's stock rocketing $9 a share late last month. But that and other positive factors, including the recently improving fundamentals, are already built into the stock price, Pinson says. More important, he expects prices of Iomega's Zip and Jazz drives to continue falling. He also points out that in his office, many Iomega products go unused because the Internet has taken over as a delivery medium for large computer files. "Iomega better develop newer product lines," Pinson says. "If not, $8-$12 per share may be the 'very best' investors could see any time soon." The stock is currently trading at just under 7. • More information can be found at: www.tfc.com