Dublin-based software provider Iona Technologies reported a net loss of $1.9 million in the second quarter as demand remained weaker than expected.
The company, which provides integration solutions for computer networks, announced second-quarter revenues of $15.2 million.
Mr Chris Horn, Iona's chief executive and co-founder, said IT buyers have been more cautious than anticipated. "Nonetheless, IONA remains a strong company that is well-positioned to help its customers derive new business value from their installed IT assets," he said.
"IONA continues to do what is necessary to achieve sustainable performance," stated Mr Dan Demmer, Iona's chief financial officer.
"Our CORBA business remains cash generative, our balance sheet is strong and our cost base is stable," he said.
The company said it expects revenue for the third quarter to be in the range of $15 to 17 million and total expenses, including both cost of revenue and operating expenses, to be in the range of $16 million to 17 million.
