IONA Technologies (Nasdaq: IONA), said Tuesday second quarter earnings were 20 cents a share, a nickel above First Call's expectation.
Shares in the company, which provides e-business infrastructure that helps organizations build and deploy enterprise portals closed at 78 15/16 Monday.
Revenue for the quarter was of $34.7 million. Earnings were $4.5 million, or 20 cents a share, excluding amortization of purchased intangible assets, acquisition-related costs and other one-time charges.
Results met internal expectations, and product revenue growth was 54 percent over the second quarter of 1999.The company said early delivery of the iPortal Server, which completed the iPortal product suite, and the acquisition of Genesis Development during the quarter has enhanced execution capabilities going forward.
Other companies reporting quarterly results Tuesday included:
Shares closed at 12 7/8 Monday.
Earnings, excluding one-time items and acquisition-related charges of $7.1 million, or 3 cents a share, compared with $42.9 million, or 16 cents, in the third quarter 1999.
Revenue of $227.3 million compared with $264.1 million in the same quarter of 1999. Including charges for cost restructuring and amortization, the company reported a net loss of $15.4 million, or 6 cents a share, compared with a profit of $44.2 million, or 13 cents a share in the same period of the previous year.
The company said licensing of its products was strong, but that growth wasn't reflected in the overall licensing results. ISS said third party vendor licensing fell 19 percent. The company noted third party licensing wasn't its focus. Subscription sales were up 18 percent sequentially, with services jumping 30 percent.
Shares closed at 107 Monday.