Iona Technologies Ltd, Dublin, Ireland-based middleware provider, has reported third-quarter net income of $961,000 on revenue up 18.1% at $26.5m, compared to a net loss of $1.9m in the year-ago quarter. Reported earnings per share were $0.05 but, excluding an asset write-off of $1.7m, came in at $0.12, or $0.02 better than the First Call consensus. Product revenue rose 15.2% to $18m, while services revenue climbed 24.7% to $8.5m.
Results for the year-ago quarter include a $5m acquisition- related charge and a $1.7m asset write-off. Excluding those charges, pro forma net income actually dropped 37.6% year-over- year and EPS fell 33.3%. Nine-month net income dropped 41.1% to $1.7m on revenue up 23.5% at $72.2m, while earnings per share fell 42.9% to $0.08.
