Iona Technologies has posted third-quarter revenues of $24.2m, up 19% year on year, and ahead of the company's own forecast for sales in the range of $20-$22m.
On a GAAP accounting basis Iona had $3.1m net profit for the three month period, including a share-based compensation expense of $1.3m.
The company also said today that Sean Baker, Iona co-founder and chief scientist, is moving to a non-executive board role.
Revenues from Iona's newer Artix line grew by 82% year on year, while its Corba software declined 8%, less than expected.
The company said that it now expects total revenue for its final quarter to be in the range of $20-$22m. Iona expects total expenses for the fourth quarter to be in the range of $21-$21.5m.
Bob McBride, finance chief, said the firm has achieved strong operating margins, cash flow and revenue growth in the quarter, despite funding two acquisitions in the year.
He said that for the year to date operations has grown Iona's cash and cash equivalents by $4.8m to $58.8m.
'Those acquisitions have now been successfully integrated, and our expenses remain under tight control', he said.
Iona shares closed up 10 cent at €2.90 in Dublin.
