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October 14, 1998

COMPANY RESULT: IONA TECHNOLOGIES LTD

By CBR Staff Writer

Iona Technologies Ltd, Dublin-based middleware company, has reported a third-quarter net loss of $1.9m on revenue up 73.8% at $22.4m, compared to income of $1.9m, or $0.10 per share, a year ago. Nine-month net income was down 43.1% at $2.9m on revenue up 80.1% at $58.5m. Earnings per share for the nine months fell 46.2% to $0.14. Results were impacted by a charge of $5.0m for the acquisition of technology from Electronic Data Systems Inc and a $1.7m charge for the write-off of assets related to the relocation of corporate headquarters. Net of these items, earnings would have been $0.18 for the quarter, a penny above estimates, according to Zack’s Investment Research.

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