Iomega profits up

Iomega profits up

Focus on low margin areas of the business helped boost income

Storage provider Iomega today reported profits of $1.3m (£630,000), a like for like increase of 44 per cent on 2006.

The increase was a result of growth in consumer storage solution products, which have lower gross margin percentage than other product lines for the company.

The company is predicting strong end of year results as the fourth quarter is seasonally the most successful, said chief executive Jonathan Huberman.

"We remain optimistic about our business performance and prospects in the seasonally high fourth quarter," he said.

Results were also helped by a 39 per cent decline in Zip drive revenues which carry a higher gross margin percentage.