Iona has announced a fourth quarter loss of $25m or 91 cents per share, on revenues of $45.5m, up 11% on last quarter.
The company also announced plans to place 5.5 million of its US ADR shares, raising between $120 and $130 million, to fund general corporate purposes, including working capital.
Iona expects to offer five million shares, with 500,000 shares to be offered by existing shareholders.
Iona shares in Dublin were down nearly 5% at 27 euro at 2.45pm.
For the full year Iona has revenues of $180.7m, and is estimating year on year growth of between 5% and 15% for 2002. The company made a profit of $2.1 million for the full year, and last year reported fourth quarter profits of $5.8m.
'We achieved solid results in Q4 despite continue uncertainty about the macroeconomic environment,' said Iona's chief financial officer Dan Demmer.
