The Provost of Trinity College Dublin, Dr John Hegarty (left) presents Chris Horn of IONA Technologies with the TCD Innovation Award in September 2006. IONA Technologies was founded in the IDA-backed TCD Innovation Centre, by three former TCD lecturers from the Department of Computer Science.

IONA Technologies the Irish software company today announced results for the second quarter ended June 30, 2007.

Revenue for the second quarter 2007 was $19.8 million, representing an increase of 12% year-over-year. On a US generally accepted accounting principles (GAAP) basis, for the second quarter 2007 IONA reported a net loss of $1.2 million, or ($0.03) per share. Net loss for the quarter includes share-based compensation expense and amortization of purchased intangible assets of $1.6 million.

Excluding $1.4 million of share-based compensation expense and $200,000 of amortization of purchased intangible assets, net income and earnings per share in the second quarter of 2007 were $0.4 million and $0.01 per share.

Commenting on the second quarter, Peter Zotto, CEO, IONA said, "We expanded IONA's addressable market by delivering new products developed by IONA as well as those from our recent acquisitions.

We integrated the company's newly acquired businesses, C24 and LogicBlaze, in the first six months of 2007. We also met evolving customer requirements with the introduction of our new Artix Data Services and Artix Registry/Repository products, signing new customers for both products during the second quarter.

We introduced a new version of our Artix™ advanced SOA infrastructure suite, adding powerful and flexible data services capabilities and delivering increased performance, developer productivity and deployment flexibility.

More recently, we launched the FUSE™ open source family of products, further enhancing the options our customers have for deploying enterprise SOA."

Bob McBride, CFO, IONA, concluded, "Cash flow from operations, aligned with deliberate and controlled cost expansion, funded our strategic initiatives, driving continued growth. All of this was accomplished while maintaining our cash balance at levels consistent with recent history. We continue to be strongly positioned to deliver sustainable growth and increase shareholder value."

The company expects total revenue for Q3 2007 to be in the range of $20.0-$22.0 million. The company expects total expenses for the third quarter 2007, including cost of revenue, operating expenses and the cost of share-based compensation to be in the range of $21.6-$22.1 million.