Iona announces new COO

Peter Zotto has been named as the new Chief Operating Officer of Iona Technologies.

Zotto has held a number of executive positions in technology-oriented organizations. Most recently, he was CEO of Proteus Industries, a privately-held company.

He was also the founder of Claright, a consulting firm specializing in providing marketing expertise to small to mid-sized companies in rapidly changing markets.

“I am delighted that Peter has joined the IONA team. His wealth of industry experience will greatly contribute to our objective of positioning IONA for sustainable product and financial performance,” commented Dr Christopher Horn, IONA Chief Executive Officer.

Meanwhile Iona Technologies PLC has posted a net loss per share of 6 cents for the third quarter.

This compares to a loss of 80 cents a year earlier, and Iona said it expects revenue for the fourth quarter this year to increase by 5-15% from third quarter revenue last time.

Third quarter revenues were $17.4m (€14.98m), down $9.1m (€7.83m) from $26.5m (€22.8m) last time.

CFO Dan Demmer said: "We expect typical patterns of seasonality in the next couple of quarters."

IONA is headquartered in Dublin, Ireland, with U.S. headquarters in Massachusetts and offices worldwide.

IONA’s customers include AT&T, Deutsche Telekom, British Telecom, Merrill Lynch and Boeing.