Irish software company Iona Technologies has reported first-quarter revenue for 2007 of $15.6 million.
This fell below what Iona had forecast in its annual report for 2006, and the company said it should take the conservative approach of deferring the recognition of $1.6 million in revenue associated with an isolated and complex transaction.
On a US generally accepted accounting principles basis, Iona reported a net loss of $2.8 million, or 0.08 cent per share.
"Demand for our products is strong and continues to expand," said Iona chief executive Peter Zotto.