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Thursday, April 16, 1998 Wednesday, Iomega closed at $7 3/8, up $1/4 (+3.51%) TODAY'S RECAP: Despite the pressure of meeting tax deadlines, the Iomega message board did benefit from a number of posts, most continuing to look forward to this week's Q1 earnings report. Other posters, however, shared information on computers with Zips and commented on reactions to management changes. Enjoy! INDEX: Use the Search or Find feature of your word processor to locate the article number (Find: 1++, 3++, etc.) - or use AOL's Edit>>Find in Top Window Feature. If Find in Top Window is dimmed, just click on some text, anything, in the IOM Today window and try again.
1++ SSorr4430 provides a URL for a new Panasonic computer (!) with Zip
drive
Recap written and posts compiled by TMF
Weekly. _______________________________ And now, the Best of the Board...Started 9:00pm ET 4/14/98. 1+++++++++++++++++++++++++++
Subject: Panasonic DVedit... The Panasonic DVedit with internal Zip Drive for only $29,995. http://www.panasonic.com/PBDS/catalog/prod/dvedit.html#features 2+++++++++++++++++++++++++++
Subject: Re: Estimates & Spin Control << ..bloomberg may have been on target, but the stock rose $3 13/16 (+5.69%).. ..so who's right??...and who's wrong??.. >> Initial knee-jerk reactions are great. Kodak has been restructuring for some time now, this is just this quarter's cost-cutting. Bottom line, earnings stunk, past efforts have failed so far. Also bottom line, another charge coming up. As far as Iomega goes, they are a work in progress, (hopefully so). This company must change with their size and penetration as well as the overall technology markets. As the Zip matures, their market segment is shifting. Believe it or not, many people don't back up anything, nothing at all. To address that fact of human nature, Iomega will attack vigorously the OEM markets yet again. This time, as many have stated, the key is price. Low price will win. I remain worried about the ongoing disk sales, I simply am not a believer in the ultra high tie ratios that were initially expected or achieved. I personally have about 23 disks now. Some here have many more. The overall trend will certainly not be that high. Again, in my opinion. Thankfully, the stock reflects a lot of pessimism and slow-growth going forward. 3+++++++++++++++++++++++++++
Subject: Re: First Call - Update Zack's lists eight analysts. Here they are with the date of their last recommendations and the recommendations they made: H.D. BROUS AND COMPANY, 03/25/98, STRONG BUY FAHNESTOCK & CO INC, 03/23/98, HOLD BUCKINGHAM RESEARCH, 03/20/98, NEUTRAL NEEDHAM & COMPANY INC, 03/18/98, HOLD HAMBRECHT & QUIST LLC, 03/17/98, HOLD Major Broker (presumably JP Morgan), 03/16/98 BUY EMERALD ASSET MANAGEMENT 02/06/98 BUY SOUNDVIEW FINANCIAL GROUP 01/23/98 BUY Zack's itself rates IOM a sell. Zack's also lists six earnings estimates, but it doesn't specify which estimate belongs to which broker. Three are minus six cents, two are minus five cents, and one is plus nine cents. 4+++++++++++++++++++++++++++
Subject: Re: Don't expect much this quarter << 1. Anything bad reported for this quarter will be considered the fault of KE. 2. You want the new person to come in with as clean a slate as possible. 3. All accounting assumptions for this quarter will be slanted toward the worst possible projection. You want only positive surprises for the new leadership. 4. Iomega wants to look like it has "turned it around" with future quarter reports. The easiest way to do this is have this quarter look as bad as possible. >> I've seen this happen in other companies. The management gets shaken up, they announce a loss, and then take all sorts of charges against earnings. This includes charges against inventory, unprofitable investments, etc. Then when the new management comes in, there is a clean slate. My point is that don't be surprised to see a charge for something like excess inventory (ie Herb Greenberg and his Jaz conspiracy theory), and earnings way worse than expected after charges. I respect you all for trying to make models of what earnings and revenues are going to be, but I see tomorrow's earnings as a nonevent. It's a crazy quarter, and I don't think a surprise in terms of income (+ or -) is going to do anything, but I've seen companies take 30% nosedives on announcing unexpected charges. Who knows. I just want to hear the CC. _______________________________
End Report. Posts covered through 9:00pm ET 4/15/98
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