IONA Reports Preliminary First Quarter Results

4/4/2003 - IONA®, the leading provider of Rapid Integration software (NASDAQ: IONA), announced preliminary financial results for its first quarter ended March 31, 2003. IONA expects to report total revenues in the range of $16.5 million to $17.0 million and a net loss per share in the range of ($0.35) and ($0.37) as calculated in accordance with U.S. generally accepted accounting principles (GAAP).

The pro forma net loss per share for the first quarter is expected to be in the range of ($0.34) and ($0.36). Pro forma results exclude on a per share basis amortization of other non-current assets and stock-based compensation expenses of $0.01.

"The current macro economic and geopolitical uncertainties have caused our customers, particularly in the U.S. telecommunications sector, to delay and in some cases reduce spending on IT projects," said Barry Morris, IONA's Chief Executive Officer. "Nonetheless, we are seeing real evidence that the second generation of our Web services integration products is proving a unique solution to reduce the cost of integration for our customers."

IONA will host its regularly scheduled conference call on April 16, 2003 at 10:00 a.m. Eastern Standard Time to discuss final results for the first quarter ended March 31, 2003.

About IONA
IONA is the leading provider of Rapid Integration software with more than 4,500 customers worldwide. IONA's award-winning Rapid Integration software products are built on: service-oriented architectures that increase reuse of software assets to deliver lasting results, standards-based software that enables vendor independence, and incremental deployment capabilities that lower the customer's risk.

Founded in 1991, IONA® (NASDAQ: IONA) is headquartered in Dublin, Ireland, with U.S. headquarters in Waltham, Massachusetts and offices worldwide. For additional information about IONA, visit our Web site at

IONA, IONA Technologies, the IONA logo, Orbix, E2A, End 2 Anywhere, End To Anywhere, Orbix E2A, IONA E2A, IONA e-Business Platform, iPortal Application Server, SureTrack, IONA XMLBus, Adaptive Runtime Technology, Orbacus, Orbix/E, IONA University and Total Business Integration are trademarks or registered trademarks of IONA Technologies PLC and/or its subsidiaries. Java and J2EE are trademarks or registered trademarks 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 U.S. and other countries.

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