Iomega has posted another net loss for its second quarter, with a report saying that it has halted production of a new product line. This is according to Macworld UK.

“The company posted a net loss of $19.8 million compared with a year-earlier profit of $4.4 million. Sales fell 23 per cent to $78 million from $101 million.”

While they have had stronger than expected sales of their REV products, they are still in trouble, and were forced to stop production of their DCT (digital capture technology) because of their current cost structure.

Full Article: >> Iomega in freefall

My Take: I stopped using Iomega products years ago… sure, I occasionally have to dust off my USB powered Zip 250 drive when a client gives me a disk, but with portable flash drives, and inexpensive optical media, how many consumers need a Zip like device?