Shares in software group Iona Technologies jumped over 10% today after it reported a narrowing of losses for the second quarter of 2006. Net losses for the three months to the end of June were $232,000 compared to a loss of $2.35 million the same time last year.
The company also reported quarterly revenue growth of 27% year on year to $17.7m. Iona added that revenues from its Artix product soared by 128%. Solid growth was also seen in sales of its Corba products.
Iona said it expects third quarter revenues to be in the range of $17.5m-18.5m.
'The consistent execution of Iona's strategy resulted in another solid quarter marked by steady progress in all aspects of our business,' commented Peter Zotto, the company's CEO.
Iona shares closed up 28 cent to €3.40 in Dublin.
