Steady rise in demand pushes up Iona profits

IONA Technologies has reported further strong growth in the third quarter of 1997, with pre-tax profits of $2.3 million (£1

IONA Technologies has reported further strong growth in the third quarter of 1997, with pre-tax profits of $2.3 million (£1.58 million) compared with a loss of $0.9 million (£0.6 million) in the same period last year. Iona, which is listed on New York's NASDAQ exchange, has recorded sales of $12.9 million in the nine months to the end of September last, up from $5.7 million in 1996. Iona chairman and chief executive Dr Chris Horn said the strong result was due to the successful launch of new software products, greater presence in worldwide markets and a steady increase in the demand for its entire range of products.