I Omagic Corp

I/OMagic Corp. said Wednesday it has won a $250,000 arbitration award against a Delaware company that was accused of reneging on a product order. I/OMagic said IPC Technologies, now known as GV Computer Systems, ordered a shipment of products in 1994, then refused to accept the order or pay for it. Irvine-based I/OMagic makes PC multimedia cards.

The Irvine developer of peripheral personal computer products posted a profit of $438,623, or 1 cent a share, for the third quarter, compared with a profit of $5,299 for the same period in 1998. Sales rose to a record $9.9 million from $2.7 million.

I/OMagic Corp. said Tuesday that one of its manufacturing partners has agreed to take a $1.5-million equity stake in the company. The partner, which I/OMagic didn't identify, also agreed to provide a $2-million trade credit line. I/O Magic said proceeds from the alliance will increase cash flow and provide a "significant step" toward meeting the capital requirements for listing on the Nasdaq small cap market. The company is currently sold over the counter.

I/OMagic Corp. said Tuesday that one of its manufacturing partners has agreed to take a $1.5-million equity stake in the company. The partner, which I/OMagic didn't identify, also agreed to provide a $2-million trade credit line. I/O Magic said proceeds from the alliance will increase cash flow and provide a "significant step" toward meeting the capital requirements for listing on the Nasdaq small cap market. The company is currently sold over the counter.

The Irvine developer of peripheral personal computer products posted a profit of $438,623, or 1 cent a share, for the third quarter, compared with a profit of $5,299 for the same period in 1998. Sales rose to a record $9.9 million from $2.7 million.

I/OMagic Corp.: The Irvine developer of peripheral personal computer products posted a loss of $276,950, or 2 cents a share, for the fourth quarter, compared with a loss of $874,387, or 7 cents a share, for the same period in 1997. Sales climbed to a record $5.3 million from $1.2 million.

I/OMagic Corp.: The Irvine developer of peripheral personal computer products recorded net income of $18,678 for the second fiscal quarter, contrasted with a net loss of $142,781 for the like period of 1997. Sales for the quarter ended June 30 rose 50% to $1.5 million from $1 million.

I/OMagic Corp.: The Irvine developer and marketer of peripheral personal computer products posted a profit of $254,819, or 1 cent a share, for the second quarter, compared with $18,677, or no cents a share, for the same period in 1998. Sales increased to $8.8 million from $1.6 million.

I/OMagic Corp.'s shares on Monday climbed 36%, or 63 cents, to $2.38 as the Irvine company said Circuit City Group, the No. 2 consumer-electronics chain, will begin selling such I/OMagic products as modems, CD-ROM drives and other personal-computer peripherals. The stock is traded over the counter.

I/OMagic Corp. said an original equipment manufacturer has agreed to purchase about 200,000 internal telephonic modem cards in a deal worth about $6.7 million. I/O did not disclose the name of the company. I/OMagic said the cards are designed to allow data and voice transmissions over a single line. I/OMagic develops and markets PC card and desktop card multimedia and communications products.

I/OMagic Corp. said Wednesday it has won a $250,000 arbitration award against a Delaware company that was accused of reneging on a product order. I/OMagic said IPC Technologies, now known as GV Computer Systems, ordered a shipment of products in 1994, then refused to accept the order or pay for it. Irvine-based I/OMagic makes PC multimedia cards.

I/OMagic Corp., Irvine developer and marketer of peripheral personal computer products, posted a profit of $972,563, or 3 cents a share, for the fourth quarter, contrasted with a net loss of $327,358, or 2 cents a share, for the same period in 1998. Sales rose to a record $19.4 million from $5.3 million.