, a data-storage hardware and software provider, warned of lower-than-expected fourth-quarter results, primarily because of the company's lower worldwide Zip drive and media sales.
Iomega, based in Roy, Utah, expects fourth-quarter earnings of 7 cents to 9 cents a share, including about $15 million, or 5 cents a share, from an expected decrease in the company's allowance for net deferred tax assets. Two analysts polled by
First Call/Thomson Financial
expect earnings of 11 cents a share for the quarter. The company earned 9 cents a share last year.
As for fourth-quarter revenue, the company expects $325 million to $330 million, compared with $434 million last year. Iomega also said it is taking cost-controlling steps and expects to remain profitable.
Shares of the company closed up 19 cents, or 4.9%, to $4.05 on the
New York Stock Exchange