world leader in high performance integration solutions for enterprise IT
environments, today announced first quarter revenues of $16.9 million. On a
U.S. generally accepted accounting principles (GAAP) basis, IONA reported
net income of $0.01 per share.
"I am pleased with our continued execution during the first quarter of 2004,
which included ongoing stability in our CORBA business," said Chris Horn,
CEO and co-founder, IONA Technologies. "The need for companies to take full
advantage of their IT investments, both past and present, is driving the
adoption of Web services and service-oriented integration for large-scale,
business-critical projects. IONA's Artix is uniquely positioned to help
companies accomplish this now. We are seeing that our current and
prospective customers value how Artix can be a part of their strategic IT
First Quarter 2004 Accomplishments
- Achieved profitability and maintained a strong cash, restricted cash and
marketable securities position of $56 million
- Made strategic investments in the sales organisation, including the appointment of William McMurray, vice president of worldwide sales, who brings more than 20 years of international sales experience with organisations such as IBM and Level 8
- Implemented a partner sales organisation to focus exclusively on the Artix product line
- Released Artix 2.0, which provides support for additional platforms and
messaging protocols to make Web services integration more practical for a greater number of organisations
- Introduced Artix Mainframe, technology which securely extends business-critical IMS and CICS transactions to J2EE or .NET applications running anywhere in the enterprise
- Initiated Artix developer program to foster grass-roots adoption in the
- Selected by Lockheed Martin to provide Web services training to its thousands of IT employees
"The company's results for the first quarter of 2004 are in line with our
expectations," stated Dan Demmer, CFO, IONA Technologies. "These results are
solid evidence of the progress we have made, through focus and alignment of our investments, to achieve sustained performance over the long term."
The company expects revenue for the second quarter of 2004 to be in the range of $17.0-$19.0 million, which represents approximately 5% to 15% year-over-year growth, and total expenses, including both cost of revenue and operating expenses, to be in the range of $17.0-$18.0 million.
IONA will host a conference call today at 10:00 a.m. Eastern Time to discuss the company's first quarter results. Investors and other interested parties may dial into the call using the toll free number (888) 566-1195 or (210) 234-5931.
The conference call will also be available via webcast on the
Investor Relations section of IONA's Web site. Following the conclusion of the call, a rebroadcast will be available at IONA's Web site or by calling (800) 262-4969 or (402) 220-9710 until April 22, 2004.