Revenue revival at Iona

25 Jan 2007

Iona Technologies has enjoyed its most profitable year since 2000, with 17pc revenue growth to US$77.8m.

Net profits were US$2.5m for the full year; in the fourth quarter they were US$2.9m. Revenue in the final quarter of the year was US$22.8m, up 19pc from the same quarter in 2005.

The company’s key product, Artix, showed full-year revenue growth of 113pc, continuing the progress of the first six months when it had been growing at 119pc in the first two quarters. The industry watcher Forrester Research has categorised this technology as a ‘leader’.

Iona CEO Peter Zotto said the past year had seen several positive developments, including expanded industry partnerships, new versions of Artix as well as the introduction of Celtix, the company’s range of open source infrastructure products. “We exited 2006 with significant momentum, positioning us for continued profitable growth in 2007,” he said.

Chief financial officer Bob McBride said that year-on-year product revenues had grown for six quarters in a row. “During 2006, Iona’s sales force productivity showed excellent improvement and we generated greater revenue from our partners,” he said, adding that the company’s professional services arm also showed improved profitability.

For the first quarter of this year, Iona said it expects total revenue to some in between the range of US$18.5m-US$19.5m.

By Gordon Smith