(NASDAQ: IONA), a world leader in high-performance integration solutions for mission-critical IT environments, today announced first quarter revenues of
$16.3 million. On a U.S. generally accepted accounting principles (GAAP) basis, IONA reported net income of $0.00 per share.
"In a challenging environment, I'm pleased to report that the overall results of the first quarter are in line with the company's stated guidance, and are indicative that IONA is continuing its move in the right direction,"
said Chris Horn, vice-chairman and co-founder, IONA. "IONA had eight Artix customers in Q1, bringing to 40 the company's total Artix customers worldwide. We continue to see increasing Artix demand from new customers as well as from our extensive CORBA installed base. Although Artix is a relatively new product in a new market, I am pleased with the overall Artix adoption rate."
"The Enterprise Service Bus (ESB) market segment, nascent less than 15 months ago, has evolved to one of high visibility and accelerating growth today. Driving this growth is a steady movement toward SOA projects, for which ESBs are essential infrastructure. With the recent introduction of Artix 3.0, IONA's extensible ESB, we further demonstrated that IONA uniquely meets the complex integration requirements of large enterprises. With a customer base of satisfied Global 2000 companies, we are confident that Artix is on the right path to become a significant and growing part of our revenues," added Peter Zotto, CEO, IONA. "But even as we see a growing positive response for Artix from customers, prospects and partners, we value IONA's role and responsibilities as the industry steward of CORBA. Our CORBA stewardship continues to drive high levels of cash flow, which we invest as appropriate, to deliver ever increasing value to our customers and shareholders."
- Successfully launched version 3.0 of Artix
- Entered into a strategic marketing relationship with Sun Microsystems, further strengthening the Artix ecosystem
- Completed 8 Artix transactions in Q1
- Generated 8% year-over-year product revenue growth
- Strengthened Senior Management Team through the appointment of Stephanos Bacon, vice president, Product Development
- Ended Q1, 2005 with a cash and marketable securities balance of $54.7 million
"IONA has established a highly leverageable business model, a cash generative CORBA business, a growing Artix business, an efficient cost base, and a strong balance sheet that exceeded our expectations for the quarter,"
said Dan Demmer, CFO, IONA. "These attributes allow the company to make targeted and selective investments in our business and deliver sustainable performance."
IONA expects total revenues for Q2 2005 to be in the range of $16 - $17 million. The company expects total expenses for the second quarter 2005, including both cost of revenue and operating expenses, to be in the range of
$16 - $17 million.