Iona profits down for Q2

ISEQ-listed Iona Technologies today announced second quarter revenues of $15.2m (€12.3m).

On a US Generally Accepted Accounting Principles (GAAP) basis, Iona reported a net loss of $1.9m (€1.5m) or $0.05 (€0.04) per share.

“In the past quarter, enterprise IT buyers have been more cautious than anticipated in their adoption of innovative technologies, including our web services integration product Artix,” said Chris Horn, Iona CEO and co-founder.

“Nonetheless, Iona remains a strong company that is well-positioned to help its customers derive new business value from their installed IT assets.”

The company expects revenue for the third quarter of 2004 to be in the range of $15m (€12.1m) to $17m (€13.8m) and total expenses, including both cost of revenue and operating expenses, to be in the range of $16m (€12.9m) to $17m (€12.1m).

Iona will host a conference call today at 10:00a. Eastern US Time to discuss the company's second quarter results.

Investors and other interested parties may dial into the call using the toll free number [phone] or [phone].

The conference call will also be available via webcast on the Investor Relations section of Iona's website at www.iona.com.

Following the conclusion of the call, a rebroadcast will be available at Iona's website or by calling [phone] or [phone] until July 22.

Iona's share price on the ISEQ was down 5c at €2.65 at 12.30pm today.