Delaware
|
1-12333
|
86-0385884
|
(State
or Other Jurisdiction
|
(Commission
|
(IRS
Employer
|
of
Incorporation)
|
File
Number)
|
Identification
No.)
|
10955
Vista Sorrento Parkway, San Diego, CA
|
92130
|
(Address
of Principal Executive Offices)
|
(Zip
Code)
|
1.
|
A
cash, pre-tax benefit of $3.5 million related to a prior license
of
intellectual property associated with the DCT product line which
is
included in the Other product line in fourth quarter
2007. Although Iomega looks for licensing opportunities, this
$3.5 million license fee is attributable to a 2004 agreement and
thus is a
carryover from prior periods. Future license fees are always
speculative and we have no guarantee of a recurring $3.5 million
fee.
|
2.
|
A
pre-tax expense of $1.2 million for external professional fees associated
with the recently announced, pending acquisition of ExcelStor Group
during
fourth quarter 2007. Iomega has not routinely incurred similar sized
expenses in connection with strategic transactions in many years,
if at
all, and so we consider it meaningful for investors to consider ongoing
operating expenses and estimated pre-tax profits excluding this
expense.
|
(c)
|
Exhibits. The
exhibit listed on the Exhibit Index relates to Item 2.02 and shall
be
deemed furnished as a part of this Current Report on Form
8-K.
|
Press
release issued on January 22, 2008 announcing Iomega Corporation’s
expected fourth quarter 2007 financial results and entitled, “Iomega
Expects Fourth Quarter Revenue and Net Income to Exceed Previous
Guidance”.
|