IOMEGA CORPORATION CONDENSED STATEMENTS of OPERATIONS - QTD (In Thousands, Except Per Share Data) (Unaudited)

IOMEGA CORPORATION CONDENSED STATEMENTS OF OPERATIONS - QTD (In thousands, except per share data) (Unaudited)

For the Three Months Ended Dec. 31, Dec. 31, Sept. 30, 2001 % 2000 % 2001 %

REVENUE $189,934 100.0% $331,147 100.0% $182,137 100.0% COST OF SALES (1) 126,422 66.6% 220,165 66.5% 149,859 82.3% Gross margin 63,512 33.4% 110,982 33.5% 32,278 17.7%

OPERATING EXPENSES: Selling, general and administrative 44,368 23.4% 84,351 25.5% 60,043 33.0% Research and development 9,729 5.1% 16,238 4.9% 12,476 6.8% Restructuring charges 4,594 2.4% 0 0.0% 33,266 18.3% Total operating expenses 58,691 30.9% 100,589 30.4% 105,785 58.1% OPERATING INCOME (LOSS) 4,821 2.5% 10,393 3.1% (73,507) (40.4%) Interest and other income and expense, net 1,343 0.7% 4,968 1.5% 3,203 1.8% INCOME (LOSS) BEFORE INCOME TAXES (2)6,164 (3) 3.2% 15,361 4.6% (70,304) (38.6%) BENEFIT (PROVISION) FOR INCOME TAXES(2,268) (1.2%) (7,261) (2.2%) 27,859 15.3% (INCREASE) DECREASE IN TAX VALUATION ALLOWANCE 0 0.0% 13,914 4.2% (28,707) (15.8%) NET INCOME (LOSS) $3,896 2.1% $22,014 6.6% ($71,152) (39.1%)

BASIC EARNINGS (LOSS) PER SHARE $0.07 $0.41 ($1.32) DILUTED EARNINGS (LOSS) PER SHARE $0.07 $0.41 ($1.32) COMMON SHARES OUTSTANDING 52,035 54,052 53,848 COMMON SHARES ASSUMING DILUTION 52,035 54,715 53,848

(1) Q3 2001 includes $25.2 million of non-restructuring charges reflecting writedowns of inventory and equipment and other assets and charges associated with various contractual arrangements and supplier commitments. (2) Q3 2001 includes $31.1 million of non-restructuring charges and $33.3 million of restructuring charges. (3) Q4 2001 includes $4.6 million of restructuring charges.

PRODUCT REVENUES & PROFIT MARGINS - QTD (In thousands) (Unaudited)

For the Three Months Ended Dec. 31, Dec. 31, Sept. 30, 2001 % 2000 % 2001 % Revenue: Zip $145,042 76.4% $221,628 66.9% $142,845 78.4% Jaz 11,462 6.0% 37,204 11.2% 13,647 7.5% CD-RW 23,995 12.6% 53,962 16.3% 17,607 9.7% PocketZip 1,300 0.7% 12,010 3.6% 2,063 1.1% Other 8,135 4.3% 6,343 1.9% 5,975 3.3% Total Revenue $189,934 $331,147 $182,137

Product Profit Margin (Loss): Zip $41,552 $54,903 $27,936 Jaz 2,742 9,998 3,490 CD-RW (7,752) (4,297) (17,022) PocketZip (1,014) (10,080) (5,335) Other (3,298) (5,801) (20,320) Total Product Profit Margin (Loss) (1) 32,230 44,723 (11,251)

Common: General corporate expenses (22,815) (34,330) (28,990) Restructuring charges (4,594) 0 (33,266) Interest and other income and expense, net 1,343 4,968 3,203 Income (Loss) Before Income Taxes $6,164 $15,361 ($70,304)

(1) Q3 2001 includes $25.2 million of non-restructuring charges reflecting writedowns of inventory and equipment and other assets and charges associated with various contractual arrangements. These charges include $7.5 million for Zip, $7.5 million for CD-RW, $3.6 million for PocketZip and $6.6 million for Other. IOMEGA CORPORATION CONDENSED STATEMENTS OF OPERATIONS - YTD (In thousands, except per share data) (Unaudited)

For the Year Ended Dec. 31, Dec. 31, 2001 % 2000 %

REVENUE $834,297 100.0% $1,300,184 100.0% COST OF SALES (1) (2) 645,504 77.4% 810,500 62.3% Gross margin 188,793 22.6% 489,684 37.7%

OPERATING EXPENSES: Selling, general and administrative 220,325 26.4% 287,696 22.1% Research and development 49,522 5.9% 58,577 4.5% Restructuring charges (reversals) 38,946 4.7% (4,814) (0.4%) Total operating expenses 308,793 37.0% 341,459 26.3% OPERATING INCOME (LOSS) (120,000) (14.4%) 148,225 11.4% Interest and other income and expense, net 13,875 1.7% 14,093 1.1% INCOME (LOSS) BEFORE INCOME TAXES(106,125) (2) (3) (12.7%) 162,318 12.5% BENEFIT (PROVISION) FOR INCOME TAXES41,975 5.0% (65,247) (5.0%) (INCREASE) DECREASE IN TAX VALUATION ALLOWANCE (29,129) (3.5%) 72,559 5.6% NET INCOME (LOSS) ($93,279) (11.2%) $169,630 13.0%

BASIC EARNINGS (LOSS) PER SHARE ($1.74) $3.13 DILUTED EARNINGS (LOSS) PER SHARE ($1.74) $3.07 COMMON SHARES OUTSTANDING 53,489 54,110 COMMON SHARES ASSUMING DILUTION 53,489 55,998

(1) 2001 includes $70.1 million of non-restructuring charges reflecting writedowns of inventory and equipment loss accruals for related supplier purchase commitments recorded in the second and third quarters. (2) 2000 includes $7.4 million of non-restructuring charges associated with valuation of inventories and equipment and accruals for supplier purchase commitments recorded in the first quarter. (3) 2001 includes $77.1 million of non-restructuring charges and $38.9 million of restructuring charges recorded in the second, third and fourth quarters.

PRODUCT REVENUES & PROFIT MARGINS - YTD (In thousands) (Unaudited)

For the Year Ended Dec. 31, Dec. 31, 2001 % 2000 % Revenue: Zip $635,332 76.2% $984,823 75.7% Jaz 64,945 7.8% 161,819 12.4% CD-RW 104,344 12.5% 123,708 9.5% PocketZip 6,968 0.8% 20,302 1.6% Other 22,708 2.7% 9,532 0.7% Total Revenue $834,297 $1,300,184

Product Profit Margin (Loss): Zip $157,225 $301,007 Jaz 18,397 44,088 CD-RW (51,661) (1,666) PocketZip (37,426) (34,519) Other (52,729) (13,359) Total Product Profit Margin (1) (2) 33,806 295,551

Common: General corporate expenses (114,860) (152,140) Restructuring (charges) reversals (38,946) 4,814 Interest and other income and expense, net13,875 14,093 Income (Loss) Before Income Taxes ($106,125) $162,318

(1) 2001 includes $70.1 million of non-restructuring charges reflecting writedowns of inventory and equipment and loss accruals for related supplier purchase commitments. These charges include $12.0 million for Zip, $17.5 for CD-RW, $21.5 million for PocketZip and $19.1 million for Other. (2) 2000 includes $7.4 million of non-restructuring charges associated with valuation of inventories and equipment and accruals for supplier purchase commitments associated with PocketZip. IOMEGA CORPORATION CONDENSED BALANCE SHEETS (In thousands) (Unaudited)

Dec. 31, Dec. 31, Sept. 30, 2001 2000 2001 ASSETS: Cash and cash equivalents $224,093 $255,572 $243,121 Temporary investments 104,953 122,347 92,925 Trade receivables 89,396 139,461 97,007 Inventories 57,913 102,497 70,044 Deferred taxes 39,978 43,471 42,279 Other current assets 18,190 19,059 15,580 Total current assets 534,523 682,407 560,956 Fixed assets (net) 55,197 101,589 61,898 Intangible and other assets 24,255 31,443 26,896 $613,975 $815,439 $649,750 LIABILITIES AND STOCKHOLDERS' EQUITY: Current lease obligations $1,036 $2,311 $1,578 Accounts payable 68,550 108,168 67,778 Other current liabilities 150,059 181,735 179,768 Total current liabilities 219,645 292,214 249,124

Deferred taxes 12,374 30,684 13,322 Long-term liabilities 3,018 4,001 2,961 Stockholders' equity 378,938 488,540 384,343 $613,975 $815,439 $649,750

CONDENSED STATEMENTS OF CASH FLOWS - YTD (In thousands) (Unaudited)

For the Year Ended Dec. 31, Dec. 31, 2001 2000 Cash Flows from Operating Activities: Net Income (Loss) ($93,279) $169,630 Non-Cash Revenue and Expense Adjustments 97,306 58,535 4,027 228,165 Changes in Assets and Liabilities: Trade receivables 42,944 38,687 Inventories 15,270 522 Other current assets 1,136 6,284 Accounts payable (39,618) (27,447) Other current liabilities/taxes (31,943) 3,471 Net cash provided by (used in) operating activities (8,184) 249,682

Cash Flows from Investing Activities: Purchase of property, plant and equipment (18,789) (28,913) Sale of temporary investments 185,025 142,864 Purchase of temporary investments (167,631) (227,002) Net decrease in other assets/liabilities (3,865) (549) Net cash used in investing activities (5,260) (113,600)

Cash Flows from Financing Activities: Proceeds from sale of Common Stock 1,050 3,763 Net payments on notes & lease obligations (1,485) (49,800) Purchase of Common Stock (17,600) (7,179) Net cash used in financing activities (18,035) (53,216) Net Increase (Decrease) in Cash and Cash Equivalents (31,479) 82,866 Cash and Cash Equivalents at Beginning of Period 255,572 172,706 Cash and Cash Equivalents at End of Period $224,093 $255,572 IOMEGA CORPORATION Supplemental Information Fourth Quarter 2001 (Unaudited)

Revenue by Region ($Millions) Q4 2001 Q4 2000 Yr/Yr Change Q3 2001 Qtr/Qtr Change Americas $121 $214 ($93) $133 ($12) Europe $58 $96 ($38) $38 $20 Asia $11 $21 ($10) $11 $0 Total Revenue $190 $331 ($141) $182 $8

Regional Revenue as a Percentage of Total Revenue Q4 2001 Q4 2000 Q3 2001 Americas 64% 65% 73% Europe 30% 29% 21% Asia 6% 6% 6% Total Revenue 100% 100% 100%

Product Platform Data (Thousands) Q4 2000 Q1 2001 Q2 2001 Q3 2001 Q4 2001 Shipped

Zip Drive Units 1,792 1,479 1,215 1,280 1,249 >46 million Unit Change Yr/Yr (33%) (21%) (26%) (24%) (30%) Iomega OEM 748 639 668 719 645 OEM Unit Change Yr/Yr (42%) (8%) (19%) (7%) (14%) Iomega OEM % 42% 43% 55% 56% 52% Zip Disk Units 10,389 11,732 8,621 6,678 7,390 >280 million Unit Change Yr/Yr (39%) (23%) (40%) (55%) (29%)

Jaz Drive Units 66 43 26 24 16 >2.9 million Unit Change Yr/Yr (38%) (43%) (62%) (64%) (76%) Jaz Disk Units 359 231 132 104 131 >11 million Unit Change Yr/Yr (30%) (48%) (55%) (62%) (64%)

Iomega CD-RW Drive Units 346 270 144 147 211 >1.6 million Unit Change Yr/Yr 264% 419% 20% (24%) (39%)

PocketZip Drive Units 86 14 33 41 15 >335 thousand Unit Change Yr/Yr 231% 0% 27% 21% (83%) PocketZip Disk Units 144 101 55 57 72 >800 thousand Unit Change Yr/Yr N/A (34%) (24%) (33%) (50%)

Peerless Drive Units N/A N/A 11 19 19 Peerless Disk Units N/A N/A 14 18 26

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