Software group Iona has reported net profits of just under $500,000 for the third quarter of this year, up 13% on the same period last year. Total sales were up 17% to $20.3m, ahead of expectations.
Iona said net profits would have been $1.8m excluding $1.3m in stock-based compensation expenses which were included this year after an accounting change.
Sales of its Artix software product more than doubled compared with Q3 last year.
Iona said it expected sales of $20-22m in the fourth quarter, with total costs of $19-20m.
