IOMEGA Corp. reported net income of $4.8 million for its fourth quarter ended Dec. 31, down from $4.9 million in the same period in 1989. Sales were $32.9 million and $30.4 million respectively.
For the 12 months ended Dec. 31, the company reported net income of $14 million or 85 cents per share, up from $11.2 million or 67 cents per share for 1989. Sales were $120.4 million in 1990 and $109 million in 1989.The company said the increase in fourth quarter net income was due to increased sales and higher gross margins resulting from better manufacturing performance and cost reductions.
IOMEGA develops, manufactures and sells removable mass storage products for desktop computers.