Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Mel Boreham who wrote (8461)	3/22/1999 9:35:00 PM
From: David Colvin	Respond to of 10072

Mel, I have a question though, did Iomega have an urgent need for this 3 million dollars? Just this weekend I printed out Iomega's consolidated balance sheet from Q1 1994 thru Q4 1998 (.pdf format) which is available at Iomega's web site. It shows the following on the very first line at the top as of Q4 1998: Cash and Cash Equivalents - $90,273,000 If I'm interpreting this figure correctly they sure don't have an urgent need for cash. I'm guessing that the $9.5 million for the purchase of Syquest's U.S. assets will show up in this quarter (Q1 1999) as a special one-time charge against net earnings or it will be "buried" somewhere in the 1Q 1999 earnings report. I haven't a clue as to what they were supposed to pay for the additional assets in Malaysia because I don't believe Iomega ever said what that additional cost would/should be. Dave