Third-quarter results see Iona return to form

IONA TECHNOLOGIES continued its bounce back yesterday as the software company beat expectations with third-quarter revenues of $16.5 million (€13.4m).

The market looked kindly on the news and bumped the share price up more than 12% to $4.85 before retreating in late trading.

Net income for the three months to September was $209,000, which marked a substantial improvement from the $1.9m loss in the previous quarter and the $2m deficit in the same period last year.