Iona announces first quarter results; reports profits for quarter

Dublin, Ireland, (PresseBox) - IONA® Technologies (NASDAQ: IONA), a 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 CORBAÒ 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 ArtixÔ 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 initiatives.”



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 organization, including the appointment of William McMurray, vice president of worldwide sales, who brings more than 20 years of international sales experience with organizations such as IBM and Level 8

§ Implemented a partner sales organization 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 organizations

§ Introduced Artix Mainframe, technology which securely extends business-critical IMS and CICS transactions to J2EEÒ or .NET applications running anywhere in the enterprise

§ Initiated Artix developer program to foster grass-roots adoption in the technical community

§ 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.”

Looking Forward

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.

Conference Call 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 at www.iona.com. 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.

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