SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 11-K
ANNUAL REPORT PURSUANT TO SECTION 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1997
1-12333
(Commission file number)
IOMEGA CORPORATION
(Exact name of issuer as specified in its charter)
Delaware 86-0385884
(State of Incorporation) (IRS employer identification number)
1821 West Iomega Way, Roy, UT 84067
(Address of principal executive offices) (ZIP Code)
(801) 778-1000
(Registrant's telephone number, including area code)
Iomega Retirement and Investment Savings Plan
(Full title of the Plan)
<PAGE>
EIN: 86-0385884
PLAN NUMBER: 001
IOMEGA RETIREMENT AND INVESTMENT SAVINGS PLAN
FINANCIAL STATEMENTS AS OF
DECEMBER 31, 1997 AND 1996
TOGETHER WITH REPORT OF INDEPENDENT
PUBLIC ACCOUNTANTS
<PAGE>
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To the Steering Committee and Participants of the
Iomega Retirement and Investment Savings Plan:
We have audited the accompanying statements of net assets available for benefits
of the Iomega Retirement and Investment Savings Plan (the "Plan") as of December
31, 1997 and 1996, and the related statement of changes in net assets available
for benefits for the year ended December 31, 1997. These financial statements
and the schedules referred to below are the responsibility of the Plan's
management. Our responsibility is to express an opinion on these financial
statements and schedules based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for benefits of the Plan as of
December 31, 1997 and 1996, and the changes in its net assets available for
benefits for the year ended December 31, 1997 in conformity with generally
accepted accounting principles.
Our audits were made for the purpose of forming an opinion on the basic
financial statements taken as a whole. The schedules of assets held for
investment purposes and reportable transactions are presented for purposes of
additional analysis and are not a required part of the basic financial
statements but are supplementary information required by the Department of
Labor's Rules and Regulations for Reporting and Disclosure under the Employee
Retirement Income Security Act of 1974. The fund information in the statements
of net assets available for benefits and the statement of changes in net assets
available for benefits is presented for purposes of additional analysis rather
than to present the net assets available for benefits and changes in net assets
available for benefits of each fund. The schedules and fund information have
been subjected to the auditing procedures applied in the audits of the basic
financial statements and, in our opinion, are fairly stated in all material
respects in relation to the basic financial statements taken as a whole.
/S/ ARTHUR ANDERSEN LLP
ARTHUR ANDERSEN LLP
Salt Lake City, Utah
May 29, 1998
<PAGE>
IOMEGA RETIREMENT AND INVESTMENT SAVINGS PLAN
INDEX TO FINANCIAL STATEMENTS AND SCHEDULES
Statement of Net Assets Available for
Benefits as of December 31, 1997 1
Statement of Net Assets Available for
Benefits as of December 31, 1996 2
Statement of Changes in Net Assets
Available for Benefits for the Year Ended
December 31, 1997 3 - 4
Notes to Financial Statements 5 - 9
Item 27a - Schedule of Assets Held for Investment
Purposes as of December 31, 1997 10
Item 27d - Schedule of Reportable Transactions for
the Year Ended December 31, 1997 11 - 12
<PAGE>
IOMEGA RETIREMENT AND INVESTMENT SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
AS OF DECEMBER 31, 1997
<TABLE>
FUND INFORMATION
---------------------------------------------------------------------------------------
FIDELITY FUNDS
---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Managed Retirement Short-Term
Magellan Contrafund Income Money Market Bond
---------------------------------------------------------------------------------------
INVESTMENTS,
at fair value $ 2,831,116 $ 10,387,070 $ 2,451,608 $ 1,893,013 $ 878,536
RECEIVABLES:
Employee contributions 27,185 48,332 7,019 10,613 5,129
Employer contributions 154,517 336,858 58,883 63,499 35,858
---------------------------------------------------------------------------------------
NET ASSETS $ 3,012,818 $ 10,772,260 $ 2,517,510 $ 1,967,125 $ 919,523
=======================================================================================
</TABLE>
<TABLE>
FUND INFORMATION
--------------------------------------------------------------------------------------------------------
FIDELITY FUNDS
---------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Spartan U.S.
Equity Asset Equity Iomega Participant
Income II Manager Index Stock Fund Loans Total
-------------------------------------------------------------------------------------------------------
INVESTMENTS,
at fair value $ 3,592,439 $ 1,306,865 $ 2,484,731 $ 12,568,742 $ 1,194,970 $ 39,589,090
RECEIVABLES:
Employee contributions 23,767 12,063 23,026 50,197 - 207,331
Employer contributions 150,116 71,862 134,786 334,666 - 1,341,045
-------------------------------------------------------------------------------------------------------
NET ASSETS $ 3,766,322 $ 1,390,790 $ 2,642,543 $ 12,953,605 $ 1,194,970 $ 41,137,466
=======================================================================================================
</TABLE>
The accompanying notes to financial statements are an
integral part of these statements.
-1-
<PAGE>
IOMEGA RETIREMENT AND INVESTMENT SAVINGS PLAN
STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS
AS OF DECEMBER 31, 1996
<TABLE>
FUND INFORMATION
---------------------------------------------------------------------------------------
FIDELITY FUNDS
---------------------------------------------------------------------------------------
Managed Retirement Short-Term
Magellan Contrafund Income Money Market Bond
---------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
INVESTMENTS,
at fair value $ 1,229,533 $ 8,124,455 $ 2,359,975 $ 2,243,107 $ 669,011
RECEIVABLES:
Employee contributions 8,363 30,031 7,646 6,773 2,914
Employer contributions 59,992 265,898 78,816 61,499 20,547
---------------------------------------------------------------------------------------
NET ASSETS $ 1,297,888 $ 8,420,384 $ 2,446,437 $ 2,311,379 $ 692,472
=======================================================================================
</TABLE>
<TABLE>
FUND INFORMATION
--------------------------------------------------------------------------------------------------------
FIDELITY FUNDS
---------------------------------------------------
Spartan U.S.
Equity Asset Equity Iomega Participant
Income II Manager Index Stock Fund Loans Total
--------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
INVESTMENTS,
at fair value $ 2,514,918 $ 912,007 $ 822,046 $ 8,551,735 $ 990,265 $ 28,417,052
RECEIVABLES:
Employee contributions 12,462 7,030 6,287 26,638 - 108,144
Employer contributions 87,967 57,685 44,650 221,470 - 898,524
--------------------------------------------------------------------------------------------------------
NET ASSETS $ 2,615,347 $ 976,722 $ 872,983 $ 8,799,843 $ 990,265 $ 29,423,720
========================================================================================================
</TABLE>
The accompanying notes to financial statements are an
integral part of these statements.
-2-
<PAGE>
<TABLE>
Page 1 of 2
IOMEGA RETIREMENT AND INVESTMENT SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 1997
FUND INFORMATION
--------------------------------------------------------------------------------------------
FIDELITY FUNDS
--------------------------------------------------------------------------------------------
Retirement
Managed Money Short-Term
Magellan Contrafund Income Market Bond
--------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
ADDITIONS TO NET ASSETS
ATTRIBUTABLE TO:
Contributions-
Employee $ 406,602 $ 951,123 $ 167,529 $ 186,467 $ 95,490
Employer 154,517 336,858 58,883 63,499 35,858
Rollover 582,929 447,675 38,866 102,453 89,039
--------------------------------------------------------------------------------------------
1,144,048 1,735,656 265,278 352,419 220,387
Investment Income-
Interest and dividends 160,980 995,786 143,038 106,589 50,321
Realized gain (loss) 136,384 248,458 - - (537)
Net unrealized appreciation
in fair value of
investments 141,351 686,591 - - 552
--------------------------------------------------------------------------------------------
Total additions 438,715 1,930,835 143,038 106,589 50,336
REDUCTIONS IN NET ASSETS
ATTRIBUTABLE TO:
Distributions to participants (233,675) (627,963) (297,983) (515,700) (23,566)
TRANSFERS BETWEEN FUNDS 365,842 (686,652) (39,260) (287,562) (20,106)
--------------------------------------------------------------------------------------------
Net additions
(reductions) 1,714,930 2,351,876 71,073 (344,254) 227,051
NET ASSETS:
Beginning of year 1,297,888 8,420,384 2,446,437 2,311,379 692,472
============================================================================================
End of year $ 3,012,818 $ 10,772,260 $ 2,517,510 $ 1,967,125 $ 919,523
============================================================================================
</TABLE>
The accompanying notes to financial statements are an
integral part of these statements.
-3-
<PAGE>
<TABLE>
Page 2 of 2
IOMEGA RETIREMENT AND INVESTMENT SAVINGS PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE YEAR ENDED DECEMBER 31, 1997
FUND INFORMATION
----------------------------------------------------------------------------------------------------
FIDELITY FUNDS
-----------------------------------------------------
Spartan U.S.
Equity Asset Equity Iomega Participant
Income II Manager Index Stock Fund Loans Total
----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
ADDITIONS TO NET ASSETS
ATTRIBUTABLE TO:
Contributions-
Employee $ 422,711 $ 223,008 $ 329,335 $ 827,457 $ - $ 3,609,722
Employer 156,116 71,862 134,786 334,666 - 1,347,045
Rollover 202,204 68,152 285,637 366,140 - 2,183,095
----------------------------------------------------------------------------------------------------
781,031 363,022 749,758 1,528,263 - 7,139,862
Investment Income-
Interest and dividends 370,920 113,768 46,412 2,943 83,335 2,074,092
Realized gain (loss) 265,835 58,996 191,997 1,361,982 - 2,263,115
Net unrealized
appreciation in fair
value of investments 157,907 61,535 230,025 2,037,619 - 3,315,580
----------------------------------------------------------------------------------------------------
Total additions 794,662 234,299 468,434 3,402,544 83,335 7,652,787
REDUCTIONS IN NET ASSETS
ATTRIBUTABLE TO:
Distributions to
participants (305,680) (102,048) (224,635) (640,108) (107,545) (3,078,903)
TRANSFERS BETWEEN FUNDS (119,038) (81,205) 776,003 (136,937) 228,915 -
----------------------------------------------------------------------------------------------------
Net additions
(reductions) 1,150,975 414,068 1,769,560 4,153,762 204,705 11,713,746
NET ASSETS:
Beginning of year 2,615,347 976,722 872,983 8,799,843 990,265 29,423,720
====================================================================================================
End of year $ 3,766,322 $ 1,390,790 $ 2,642,543 $ 12,953,605 $ 1,194,970 $ 41,137,466
====================================================================================================
</TABLE>
The accompanying notes to financial statements are an
integral part of these statements.
-4-
<PAGE>
IOMEGA RETIREMENT AND INVESTMENT SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
(1) PLAN DESCRIPTION
Participation
Iomega Corporation ("Iomega") adopted the Iomega Retirement and Investment
Savings Plan (the "Plan") effective July 1, 1985. The Plan was established to
provide employees an opportunity to accumulate funds for retirement or
disability and to provide death benefits for employees' dependents and
beneficiaries.
Effective January 1, 1995, Fidelity Management Trust Company was appointed as
trustee of the Plan. Iomega administers the Plan with the assistance of an
external administrative consultant.
The following description of the Plan provides only general information.
Participants should refer to the Plan document for a more complete description
of the Plan's provisions.
Eligibility, Contributions and Benefits
Employees who have completed thirty days of service and who have attained 21
years of age are eligible to participate in the Plan. Each eligible employee is
required to make an election to participate in the Plan. At that time, each
participant elects both the contribution amount and its distribution to the
various investment funds within the Plan. Elected contribution percentages can
range from 2 percent to 15 percent of qualifying gross compensation on a
before-tax basis, subject to IRS limitations.
Iomega may make additional contributions and the Board of Directors of Iomega
determines each year the amount and manner of the matching contribution
allocation to be made to the accounts of eligible participants. Iomega matched
employee contributions in amounts up to $650 per participant for 1997, totaling
$752,304. Participants immediately vest in these contributions.
Effective January 1, 1995, Iomega amended the Plan to allow additional
performance matching contributions which are based upon Iomega meeting or
exceeding annual budgeted profits. This performance matching contribution
matches 50 percent of each dollar of an employee's contributions that exceed the
employee's initial annual $600 contribution up to a maximum of three percent of
the employee's compensation or $4,500, whichever is less. The performance
matching contribution for 1997 totaled $594,741. Participants vest in all
performance matching contributions at a rate of 20 percent for each year of
service. After five years of service, employees become immediately vested in all
performance matching contributions.
Effective January 1, 1998, Iomega amended the Plan to change the employer
matching contributions and vesting rights. Employer matching contributions were
changed to consist of a basic match of up to $600 per participant, an additional
basic match of 50 percent of a participants contributions over $600 up to 5
percent of eligible earnings, and a discretionary performance match with a range
from 0 percent to 3 percent of eligible earnings, subject to limits imposed by
the Internal Revenue Service. The discretionary performance match is based on
Company profitability goals and the match percent is determined annually by the
Company's board of directors. Vesting rights were changed to participants
vesting in all matching contributions at a rate of 25 percent for each year of
service. After four years of service, employees become immediately vested in all
matching contributions.
-5-
<PAGE>
Benefits are normally paid upon retirement, death, disability or other
termination. Upon termination of service, participants may elect to receive
payment from their accounts in a lump sum, periodic installments, an annuity or
a combination of these methods. Actively employed participants may only withdraw
funds from the Plan pursuant to specific restrictions set forth in the Plan
agreement.
Investment Options
The Plan provides for ten investment options. These options, as well as the
number of participants investing in each option, are as follows:
<TABLE>
Number of
Fund Participants
------------------------------------------------ ----------------
<S> <C>
Magellan Fund 408
Contrafund 725
Managed Income Portfolio 289
Retirement Money Market Portfolio 223
Short-Term Bond Portfolio 142
Equity Income II Fund 419
Asset Manager 242
Spartan U.S. Equity Index Portfolio 294
Iomega Stock Fund 738
Participant Loan Fund 180
</TABLE>
The Participant Loan Fund is managed by Iomega and the remaining nine funds are
managed by the Fidelity Management & Research Company ("Fidelity"), an affiliate
of Fidelity Management Trust Company. No sales charge is levied on the funds
managed by Fidelity, however, an annual fee is charged by Fidelity to cover the
operating expenses of each fund, including the investment advisory fee. This fee
is deducted from the investment return of each fund. Participants are charged a
loan setup fee and a maintenance fee for each loan borrowed under the Plan.
The Magellan Fund seeks capital appreciation by maintaining a portfolio
primarily invested in common stocks and securities convertible into common
stocks. Up to 20 percent of this fund may also be invested in debt securities of
all types and quality levels issued by domestic and foreign issuers. The fund is
relatively aggressive in pursuing growth. Dividends are declared and posted to
the participant's account in May and December of each calendar year. The
undistributed semi-annual dividends are reinvested to purchase additional shares
in the fund.
The Contrafund seeks capital appreciation by investing in companies that are
believed to be undervalued or out of favor. When market conditions warrant, the
fund may also invest temporarily in investment-grade debt securities. The fund
is relatively aggressive in pursuing growth.
The Managed Income Portfolio seeks preservation of capital and a competitive
level of income over time. The portfolio purchases high-quality, short and
long-term investment contracts issued by insurance companies, banks and other
approved financial institutions that provide competitive interest rates. The
Managed Income Portfolio's goal is to maintain a stable $1.00 share price.
-6-
<PAGE>
The Retirement Money Market Portfolio invests in high-quality money market
instruments of domestic and foreign issuers which are denominated in U.S.
dollars. Such instruments are short-term obligations and range from U.S.
Government securities to prime commercial paper issued by private borrowers. The
fund seeks to obtain as high a level of current income as possible, given its
principal objective of preserving capital and maintaining a share value of
$1.00. Interest income is earned daily and posted to the participant's account
at the end of each calendar month or at the time of total distribution of the
account. The monthly income is applied to purchase additional shares in the
fund.
The Equity Income II Fund seeks income by investing primarily in
income-producing equity securities, considering the potential for capital
appreciation. The fund seeks a yield exceeding the Standard & Poor's Daily Stock
Price Index 500 ("S&P 500"). The fund is considered to be relatively
conservative among growth and income funds.
Asset Manager seeks high total return with reduced risk over the long term by
using a balanced mix of stocks, bonds and short-term instruments. The fund earns
dividends daily, and the dividends are posted to the participant's account in
the last month of each calendar quarter or at the time of total distribution of
the account. The undistributed dividends are reinvested to purchase more shares
in the fund.
The Short-Term Bond Portfolio invests in a broad range of fixed-income
securities. Securities in the portfolio are primarily investment grade or better
with maturities typically less than three years. The portfolio seeks high
current income consistent with preservation of capital.
The Spartan U.S. Equity Index Portfolio has the goal of replicating the total
return provided by the stocks included in the S&P 500. The fund buys and holds
virtually all of the 500 stocks contained in the S&P 500 weighted in the same
manner. The fund earns dividends daily, and the dividends are posted to the
participant's account in the last month of each calendar quarter or at the time
of total distribution of the account. The undistributed dividends are reinvested
to purchase more shares in the fund.
The Iomega Stock Fund invests only in Iomega common stock. A small amount of the
Iomega Stock Fund (approximately 1 to 2 percent) is held in cash to meet the
Plan's liquidity needs for making distributions and transfers. Shares of Iomega
stock are bought and sold over-the-counter each pay period based on
participants' elections. Voting rights for the common stock held in the Iomega
Stock Fund are passed through to participants. The market value of the Iomega
Stock Fund is determined based on unitized stock accounting.
The Participant Loan Fund is invested solely in promissory notes executed by
participants. With the Plan's consent, a participant may borrow from his or her
account up to the lesser of $50,000 or 50 percent of the participant's vested
interest. The outstanding balance of all prior loans under the Plan or any other
plan maintained by Iomega or its affiliates reduces the amount available for
future loans. Moreover, the $50,000 limit is reduced by the amount of any loan
repayments made during the most recent 12 months. The minimum amount for any
loan is $1,000. As of December 31, 1997, the loans bear interest at rates
ranging from 7.43 to 10.0 percent. Loans must be repaid within five years,
except for loans used to acquire a principal residence which must be repaid over
a reasonable period of time not to exceed 10 years. All loans, regardless of
term, become due and payable when the participant's employment terminates.
Termination of the Plan
Iomega may terminate the Plan at any time subject to the provisions of the
Employee Retirement Income Security Act of 1974, as amended.
-7-
<PAGE>
(2) SUMMARY OF ACCOUNTING POLICIES
Basis of Accounting
The accounting records of the Plan are maintained on the accrual basis in
accordance with generally accepted accounting principles. Distributions to
participants are recorded when paid.
Investments
Contributions are invested in various securities. Participants direct the
trustee as to the investment of all contributions. Investments are carried at
fair value based on quoted market prices. Unrealized appreciation or
depreciation caused by fluctuations in the fair value of investments is
recognized currently. Interest and dividends are reinvested as earned.
Distributions to Terminated Participants and Forfeitures
During the year ended December 31, 1997, some participants terminated from the
Plan. Participants terminating prior to retirement that have a vested benefit
balance in excess of $3,500 may leave their vested benefits in the Plan. The
Plan provides for the distribution of vested benefits to terminated participants
no later than April 1 following the calendar year in which the participant
attained age 70 1/2. During the year ended December 31, 1997, vested benefits
distributed to terminated participants were $3,078,903. Nonvested benefits which
are forfeited are utilized to reduce the Company contributions to the Plan and
have been reallocated to continuing participants. During the year ended December
31, 1997, forfeitures reallocated totaled $3,691.
Expenses
Iomega pays all administrative expenses relating to investment and management of
Plan funds, including legal and accounting fees, except operating expenses of
the investment funds which are deducted directly from investment returns by
Fidelity (as noted in "Investment Options").
(3) NET UNREALIZED APPRECIATION (DEPRECIATION) IN FAIR MARKET VALUE OF
INVESTMENTS
The Plan provides that the fair value of all investments shall be determined at
the end of each Plan year. Net unrealized appreciation or depreciation in the
fair value of investments is determined by computing the difference between the
fair value of each investment at the beginning of the Plan year (or at the date
of purchase for investments acquired during the Plan year) with the fair market
value at the end of the Plan year.
(4) TAX STATUS
The Plan is subject to the Employee Retirement Income Security Act of 1974
("ERISA") and certain provisions of the Internal Revenue Code ("IRC"). The Plan
is intended to qualify under Section 401(a) of the IRC. The Internal Revenue
Service issued a favorable determination letter dated October 26, 1994 ruling
that the Plan was designed in accordance with applicable IRC requirements as of
-8-
<PAGE>
that date. The Plan's steering committee and legal counsel believe that the Plan
continues to be designed and operated in accordance with applicable IRC
requirements. The Plan does not provide for federal income taxes as the
qualified plan trust is exempt from income taxes.
-9-
<PAGE>
IOMEGA RETIREMENT AND INVESTMENT SAVINGS PLAN
ITEM 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
AS OF DECEMBER 31, 1997
<TABLE>
(c) Number of (e) Current
(a) (b) Issuer/Investment Type Units Held (d) Cost Value
- --------- ----------------------------------------------- ------------------------ -------------------- ----------------------
<S> <C> <C> <C>
Fidelity Management
Trust Company:
* Magellan 29,718 $ 2,447,494 $ 2,831,116
* Contrafund 222,755 7,203,388 10,387,070
* Managed Income 2,451,608 2,451,608 2,451,608
* Retirement Money Market 1,893,013 1,893,013 1,893,013
* Short-Term Bond 100,981 921,890 878,536
* Equity Income II 133,004 2,590,315 3,592,439
* Asset Manager 71,219 989,592 1,306,865
* Spartan U.S. Equity Index 71,033 1,863,238 2,484,731
* Iomega Stock Fund 1,256,003 3,602,641 12,568,742
* Participant Loans Interest rates ranging
from 7.43% to 10%
1,194,970 1,194,970
==================== ======================
$ 25,158,149 $ 39,589,090
==================== ======================
</TABLE>
*Denotes party-in-interest
-10-
<PAGE>
<TABLE>
Page 1 of 2
IOMEGA RETIREMENT AND INVESTMENT SAVINGS PLAN
ITEM 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
FOR THE YEAR ENDED DECEMBER 31, 1997
Number (c) (d) (e)
(a) Identity of (b) Description of Trans- Purchase Selling Lease
Party Involved of Asset actions Price Price Rental
- ---------------------------- ------------------------- --------------- ----------------- ---------------- ----------
<S> <C> <C> <C> <C> <C>
Fidelity Investments 97,840 shares 207 $ 4,435,321 $ - N/A
Institutional Services Co.* of Contrafund
Fidelity Investments 67,836 shares 150 - 3,107,756 N/A
Institutional Services Co.* of Contrafund
Fidelity Investments 90,633 shares 177 2,428,227 - N/A
Institutional Services Co.* of Equity Income II
Fidelity Investments 63,521 shares 114 - 1,774,448 N/A
Institutional Services Co.* of Equity Income II
Fidelity Investments 24,318 shares 178 2,254,388 - N/A
Institutional Services Co.* of Magellan
Fidelity Investments 9,847 shares 97 - 930,541 N/A
Institutional Services Co.* of Magellan
Fidelity Investments 113,976 shares 223 7,263,108 - N/A
Institutional Services Co.* of Iomega Stock Fund
Fidelity Investments 107,806 shares 164 - 6,646,650 N/A
Institutional Services Co.* of Iomega Stock Fund
Fidelity Investments 2,117,579 units 152 2,117,579 - N/A
Institutional Services Co.* of Retirement Money Market
Fidelity Investments 2,467,673 units 115 - 2,467,673 N/A
Institutional Services Co.* of Retirement Money Market
Fidelity Investments 1,515,438 units of 153 1,515,438 - N/A
Institutional Services Co.* Managed Income
Fidelity Investments 1,423,806 units of 121 - 1,423,806 N/A
Institutional Services Co.* Managed Income
Fidelity Investments 80,747 shares of 153 2,563,029 - N/A
Institutional Services Co.* Spartan U.S. Equity Index
Fidelity Investments 40,217 shares of 76 - 1,322,366 N/A
Institutional Services Co.* Spartan U.S. Equity Index
*Denotes party-in-interest
</TABLE>
-11-
<PAGE>
<TABLE>
Page 2 of 2
IOMEGA RETIREMENT AND INVESTMENT SAVINGS PLAN
ITEM 27d - SCHEDULE OF REPORTABLE TRANSACTIONS
FOR THE YEAR ENDED DECEMBER 31, 1997
(f) Expense (h) Current
Incurred Value at
(a) Identity of (b) Description With (g) Cost Transaction (i) Net
Party Involved of Asset Transaction of Asset Date Gain
- ---------------------------- ------------------------ ---------------- ------------------- ----------------- ----------------
<S> <C> <C> <C> <C> <C>
Fidelity Investments 97,840 shares N/A $ 4,435,321 $4,435,321 $ N/A
Institutional Services Co.* of Contrafund
Fidelity Investments 67,836 shares N/A 2,715,197 3,107,756 392,559
Institutional Services Co.* of Contrafund
Fidelity Investments 90,633 shares N/A 2,428,227 2,428,227 N/A
Institutional Services Co.* of Equity Income II
Fidelity Investments 63,521 shares N/A 1,586,703 1,774,448 187,745
Institutional Services Co.* of Equity Income II
Fidelity Investments 24,318 shares N/A 2,254,388 2,254,388 N/A
Institutional Services Co.* of Magellan
Fidelity Investments 9,847 shares N/A 892,168 930,541 38,373
Institutional Services Co.* of Magellan
Fidelity Investments 113,976 shares N/A 7,263,108 7,263,108 N/A
Institutional Services Co.* of Iomega Stock Fund
Fidelity Investments 107,806 shares N/A 6,112,685 6,646,650 533,965
Institutional Services Co.* of Iomega Stock Fund
Fidelity Investments 2,117,579 units N/A 2,117,579 2,117,579 N/A
Institutional Services Co.* of Retirement Money Market
Fidelity Investments 2,467,673 units N/A 2,467,673 2,467,673 -
Institutional Services Co.* of Retirement Money Market
Fidelity Investments 1,515,438 units N/A 1,515,438 1,515,438 N/A
Institutional Services Co.* of Managed Income
Fidelity Investments 1,423,806 units N/A 1,423,806 1,423,806 -
Institutional Services Co.* of Managed Income
Fidelity Investments 80,747 shares N/A 2,563,029 2,563,029 N/A
Institutional Services Co.* of Spartan U.S. Equity Index
Fidelity Investments 40,217 shares N/A 1,216,684 1,322,366 105,682
Institutional Services Co.* of Spartan U.S. Equity Index
</TABLE>
*Denotes party-in-interest
-11-
<PAGE>
The Plan. Pursuant to the requirements of the Securities Exchange Act of 1934,
the trustees (or other persons that administer the employee benefit plan) have
duly caused this annual report to be signed on behalf of the undersigned
hereunto duly authorized, in the City of Roy, Utah on the 26th day of June 1998.
IOMEGA RETIREMENT AND
INVESTMENT SAVINGS PLAN
By:/S/ Robert J. Simmons
---------------------
Robert J. Simmons
Vice President and Treasurer
<PAGE>
EXHIBIT INDEX
The following exhibits are filed as part of this Annual Report on Form 11-K.
Exhibit
Number Description
- -------- -------------------------------------------
23.1 Consent of Arthur Andersen LLP
EXHIBIT 23.1
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
As independent public accountants, we hereby consent to the incorporation of
our report included in this Form 11-K, into the Company's previously filed
Registration Statement on Form S-8 File No. 33-62029.
/S/ ARTHUR ANDERSEN LLP
ARTHUR ANDERSEN LLP
Salt Lake City, Utah
June 24, 1998
