Iona makes return to profitability

Iona Technologies has reported a net profit of $190,000 for the first three months of 2004, compared to a loss of nearly $12m in the same quarter last year.

The move to profitability was mainly due to cost-cutting measures. Turnover was slightly lower on the same period last year at $16.9m (€14.14m), against sales of $23.4m (€19.5m) in the fourth quarter of 2003.