IONA Reports Revenues of $17.4 Million for Third Quarter

10/16/2003 - IONA ®, the world leader in high performance integration solutions (NASDAQ: IONA), announced third quarter revenues of $17.4 million and a net loss per share of ($0.06) as calculated in accordance with U.S. generally accepted accounting principles (GAAP).

The pro forma net loss per share for the third quarter was ($0.05). Pro forma net loss per share excludes amortization of other non-current assets and stock-based compensation expense representing $0.01 per share.

"I am pleased with our execution in Q3," said Chris Horn, IONA CEO and co-founder. "IONA is providing repeatable solutions to an extensive and loyal customer base. We noted a growing interest in our service-oriented integration solutions among our customers and prospects and with our Artix products, IONA is correctly positioned and ready to capitalize on these trends in the long term."

The company undertook an Artix product family early adopter program that included BellSouth, Sprint and Zurich Insurance. IONA also continued its tradition of driving industry standards, by co-authoring the Web Services - Composite Application Framework specifications, which provide support for complex enterprise Web services applications.

Looking Forward
The company expects revenue for the fourth quarter of 2003 to increase 5-15 percent from Q3 2003 revenue.

"We expect typical patterns of seasonality in the next couple of quarters," said Dan Demmer, CFO at IONA. "Our objective is to position the company for sustainable performance based on our core strengths. This requires looking beyond sequential quarterly fluctuations."

Conference Call
IONA will host a conference call today at 10:00 a.m. Eastern Standard Time to discuss the company's third quarter results. Investors and other interested parties may dial into the call using the toll free number (888) 566-1195 in the United States or (210) 234-5931 for callers outside the United States. The conference call will also be available via webcast on the Investor Relations section of IONA's website at Following the conclusion of the call, a rebroadcast will be available at IONA's Website or by calling (800) 262-4969 in the U.S. or (402) 220-9710 outside the U.S. until October 22, 2003.

About IONA
For more than a decade, IONA® Technologies (NASDAQ: IONA) has been the world leader in delivering high performance integration solutions for enterprise IT environments. IONA pioneered standards-based integration with its CORBA-based Orbix product family. The ArtixTM product family, IONA's new generation of integration solutions, extends IONA's commitment to service-oriented industry standards, including Web services.

IONA is committed to technology leadership and architectural focus. With its partners, IONA is the only company that can deliver NOW on the promise of service-oriented integration, making it possible for customers to achieve system longevity and agility at a significantly lower cost.

IONA's customers include Global 2000 companies in telecommunications, financial services, aerospace, and manufacturing, including AT&T, Verizon, BellSouth, Deutsche Telekom, British Telecom, Hong Kong Telecom, NTT, Credit Suisse, Bank of Montreal, Merrill Lynch, Winterthur Insurance, Zurich Insurance and Boeing.

IONA is headquartered in Dublin, Ireland, with U.S. headquarters in Massachusetts and offices worldwide. For additional information about IONA, visit our Web site at

IONA, IONA Technologies, the IONA logo, Orbix, High Performance Integration, Artix, Mobile Orchestrator and Making Software Work Together are trademarks or registered trademarks of IONA Technologies PLC and/or its subsidiaries. J2EE is a trademark or registered trademark of Sun Microsystems, Inc. in the United States and other countries. CORBA is a trademark or registered trademark of the Object Management Group, Inc. in the United States and other countries.

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