IONA announces Q3 loss
IONA has announced financial results for its third quarter, in which it had a pro forma net loss of $10m (€15.9m), or 31 cents a share, on revenues of $26.5m (€42.14m).
The company continued its cost-cutting programme, including the reduction of its workforce and these actions resulted in a one-time restructuring charge of $12.9m (€20.5m) in the third quarter.
During the year it has reduced its workforce by 20% or by over 170 people.
During the quarter IONA said that among the highlights had been the appointment of Steve Fisch as COO, formerly CEO of Virtual Access Networks.
Among the awards its received was "Best of the Web" in web services, in Forbes magazine.
It expanded its relationship with Hewlett Packard and strengthened other alliances.
The company said that it expected sequential growth in the fourth quarter.
It expects to report a pro forma loss of seven cents a share, a major improvement on the third quarter.
