Iomega posts another stinker in third quarter
Published: 15 Oct 1999 08:07 BST
Earlier this quarter, Iomega fired off the latest in a long line of profit warnings, telling analysts that it would lose around $5m in the quarter.
It turned out to be much worse.
The $356.6m in sales represents a 9 percent decline from the year-ago quarter when it lost $14.8m, or 6 cents a share, on sales of $391.7m.
Company officials blamed this latest disappointment on lower-than-expected revenue from its Jaz and Ditto product lines.
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