Iomega Corp. reported first-quarter net income of $1.6 million, or 9 cents per share, on $24.8 million in sales for the period ending April 2, company officials said Friday.
Although the figures were down from $3 million in net income on $30.1 million in sales for the same quarter last year, Iomega spokesman Paul Slack said, "The results were better than anticipated."The company had expected "a marginal profit, if any, in the first quarter of this year," Slack said.
A "modest" improvement in sales at the end of the quarter and "the benefits associated with the operations restructuring implemented in February contributed to the earnings," he said.
Iomega recently took steps to reduce its inventory, cutting back inventories by $1.1 million, Slack said, to $15.5 million. The company produces removable mass storage products for desktop computers.