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Iomega expects second-quarter loss

Published on .

Roy, Utah -- Iomega Corp. announced Friday that it expects to report a second-quarter loss between $.05 and $.10 per share, or about $20 million to $40 million. To bolster its bottom line, the company plans to take a second-quarter restructuring charge of $45 million, which is in addition to the expected losses. The restructuring includes 450 job cuts, and facility closures in San Jose, Calif., and San Diego. Iomega, which has lost money for several consecutive quarters, blamed the expected loss on weak sales for its Jaz drive and disks.
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