Software platform providers Iona Technoogies today posted first quarter revenues of $39.5 million and a loss of $2.4 million.
The company gave a pessimistic outlook for the year saying revenue growth is likely to be flat in the second quarter.
Commenting on the results today Mr Barry Morris Iona’s chief executive said the company’s core market of integrated application server platforms showed continued strength in the first quarter.
"We executed well in a tough environment and we strengthened our balance sheet with a successful follow-on offering," added Mr Dan Demmer, Iona’s chief financial officer.