I/OMagic Plans to Expand its Storage Line-Up

I/OMagic Corporation provider of data storage products, announced today that based on the success of unit sales of the Company's line of hard disk drives, known as GigaBank(TM) devices, it expects to add to and expand its line of hard drive storage products in the back half of the year and beyond.

I/OMagic's sales of GigaBank(TM) devices in the first six months of 2005 have far surpassed the sales level for GigaBank(TM) products in 2004. Last year, following the launch of the first GigaBank(TM) products in August 2004, the devices accounted for 4.6 percent of the Company's total unit sales for all products. In the first six months of 2005, GigaBank(TM) sales were 20.7 percent of total unit sales for all products.

"Sales of the GigaBank(TM) line have been steadily growing, so we expect to continue to add to this product line-up in the near future," said Tony Shahbaz, president and CEO of I/OMagic Corporation. "Management is also reviewing additional types of hard drives types, ranging from plug-in-play network drives to portable photo wallets, to expand on the sales success of our current magnetic devices."

I/OMagic's current line of GigaBank(TM) devices are available at computer, office supply and online retailers nationwide.


Note: 1 MB = 1 million bytes, 1 GB = 1 billion bytes.
A user's total accessible memory/storage/data capacity will be less
than stated as a result of the user's operating system and other
factors.


About I/OMagic

I/OMagic is a leading provider of data storage products (such as CD-RW and DVD+/-RW drives, USB Portable Storage Devices and floppy drives, including its MediaStation, DataStation and GigaBank(TM) products). The Company sells products under three brand names -- I/OMagic(R), Hi-Val(R) and Digital Research Technologies(R) -- through nationally-recognized computer, consumer electronics and office supply superstores and other retailers.

Forward-looking statements in this release with respect to the Company's continued sales of its GigaBank(TM) line of devices, sales strategies, growth initiatives, as well as future product offerings, are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, but not limited to, the Company's dependence on the PC and consumer electronics industries and on product lines based on new technologies; the Company's ability to develop new products based on new or evolving technology and the market's acceptance of those products; manufacturing capacity, availability and reliability; competition and pricing pressures in the technology industry; general economic and business conditions; and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.

Author:  

Email:    

Topic:    

Content:

Related Articles

• Bell Microproducts Announces Acquisition of Net Storage Computers, LTDA
  15 July 2005



• 2006 Storage Visions(TM) Conference Announces New Sponsors
  12 July 2005



• Secure, Mobile Data Storage Media-User-Friendly Memory Cards With Smart Card Technology
  28 June 2005



• Day's Chief Scientist Discusses JSR 170 at Premier Storage Network Event
  25 June 2005



• CRU-DataPort's New Serial ATA External Storage Enclosures Establish Premium Standard for Rugged Reliability
  24 June 2005



• Coraid Introduces Four Disk SATA EtherDrive Storage Appliance with RAID
  20 June 2005



• Local IT Professionals Form Group to Address Data Storage Management Issues
  18 June 2005



• Red Letter Day for DataCore – Storage Virtualization Vendor Inks Partnership With Red Sky Solutions
  16 June 2005



• Kasten Chase Launches Storage Security Compliance Auditing Service
  14 June 2005



• Texas Memory Systems Adds Redundant RAM to Reliability Features of the World’s Fastest Storage
  6 June 2005