wrapped up its first full profitable year in three years by reporting earnings of 8 cents a share for the fourth quarter.
First Call/Thomson Financial
analyst had forecast earnings of 2 cents a share. The estimate was changed from 11 cents in early January, when Iomega, which is based in Roy, Utah,
said it expected earnings of 7 cents to 9 cents a share.
The creator of computer hardware devices like the Zip and Jaz drives, said fourth-quarter revenue fell 23.6% to $331.1 million from $433.5 million, a decline the company attributed to decreased sales of its drives. Iomega's earnings were down a penny from the same quarter last year.