Iona Q2 revenues down

ISEQ and Nasdaq-listed Iona Technologies today announced second-quarter revenues of $14m (€11.6m), down from $15.2m (€12.6m) in the same period last year.

The company reported a net loss of $0.07 per share.

Chief executive Peter Zotto said: “While our second-quarter results did not meet our expectations, we have continued to stay focused on our strategic direction.

“We made good progress on our strategy during the quarter in enhancing our market positioning and visibility as a leader within the emerging Enterprise Service Bus (ESB) market sector, gaining broad industry validation with the announcement of our open source program with Celtix.

“Our Artix product line achieved significant year over year revenue growth. We delivered important upgrades across our CORBA-based product lines.

“We advanced the development of our partner ecosystem with a new technology and marketing relationship with Sun Microsystems, and SBC selected IONA as one of its top 50 suppliers.

“Within the new Services Oriented Architecture market, we believe, with Artix and Celtix, we have the right products, targeted at the right market, at the right time.”

IONA ended the second quarter with a cash, restricted cash and marketable securities balance of $50.6m (€41.9bn) and no debt.