I/OMagic Corporation announced today that it has successfully
transitioned its product lines from CD/RW to DVD/RW technology.
The Company also announced today that it expects to report
marginally profitable results for the third quarter 2003 as
compared to a loss for the third quarter 2002.
"The Company expects a decrease in net sales for the fourth
quarter 2003 as compared to the fourth quarter 2002. However, the
Company anticipates a significant improvement in its bottom line
financials for the fourth quarter 2003, compared to the loss in
the fourth quarter 2002. Based on current demand trends, the
Company anticipates a strong 2003 holiday selling season," Steve
said Gillings, Chief Financial Officer of I/OMagic Corporation.
I/OMagic introduced its internal 4X DVD+/-RW/+/-R Dual Format
drive in stores in July 2003. By October 2003, I/OMagic was one
of the first to bring the next-generation internal 8X
DVD+/-RW/+/-R Dual Format drive to market.