Iona technologies has reported fourth quarter revenues of $23.4 million but a net loss of $5 million.
The loss includes a s $6.6 million restructuring charge for severance and facilities-related expenses as well as a write-off of fixed assets.
The results represent product revenue growth of 74 per cent over the previous quarter
"I am very pleased with our continued progress in Q4," said Mr Chris Horn, IONA CEO and co-founder.
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"There is growing interest in our customer base in using Web services to reduce IT costs and complexity.
The company expects revenue for the first quarter of 2004 in the range of $16-18 million and total expenses, including both cost of revenue and operating expenses, to be in the range of $17-18 million.