Software company Iona Technologies today said it expects a net loss per share of between 0.11 to 0.15 cents in the first quarter and revenue in the range of $24-26 million.
This came after the company posted a pro forma net loss of $113,000 in the fourth quarter compared with a profit of $298,000 a year earlier, on revenue of $30.86 million, down from $45.47 million.
It reported a pro forma net loss of $28.06 million in the year to December 31st, 2002, against a profit of $2.15 million on revenue of $123.23 million, down from $180.7 million.
Pro forma results exclude amortisation of purchased intangible assets, stock compensation, restructuring, impairment of goodwill and intangible assets, write-off of fixed assets and the associated tax effect.
On a US GAAP basis, after taking into account the foregoing items, it reported a fourth-quarter net loss of $307.96 million, widened from $25.01 million previously and a full-year net loss of $369.3 million, widened from $83.5 million.
This includes a non-recurring, non-cash charge of $307.6 million for the impairment of goodwill and intangible assets and the retirement of certain fixed assets.
Mr Barry Morris, Iona's chief executive officer, said: "Iona reported 33 per cent sequential license growth in Q4, evidence of the continuing demand for our current product offerings.
"Our next-generation Web Services Integration products are expected to ship in Q1 and I am optimistic about their potential in 2003 and beyond."