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Short Take: Iomega reports loss

Iomega reported a first-quarter net loss of $18.6 million, in line with previously announced expectations, compared to a profit of $23 million in the first quarter of 1997. It attributed the loss to weak international sales, combined with approximately $20 million in incremental marketing expenses. The company said it expects to post a small loss or, at best, break even for the second and third quarters.

Iomega reported a first-quarter net loss of $18.6 million, in line with previously announced expectations, compared to a profit of $23 million in the first quarter of 1997. It attributed the loss to weak international sales, combined with approximately $20 million in incremental marketing expenses. The company said it expects to post a small loss or, at best, break even for the second and third quarters.