Iona Technologies Reports $308M Fourth-Quarter LossIona Technologies Reports $308M Fourth-Quarter Loss

Application-integration vendor Iona Technologies reported Wednesday a net loss of $308 million, or $9.38 per share, for the fourth quarter, compared with a loss of $25.06 million, or 91 cents a share, for the same period a year ago.

For the year ending Dec. 31, the Dublin, Ireland, company reported a net loss of $369.3 million, or $11.58 a share, compared with a loss of $83.5 million, or $3.27 a share, in 2001.

The losses for the quarter included a nonrecurring, noncash charge of $307.6 million for the impairment of goodwill and intangible assets and the retirement of certain fixed assets.

Iona CEO Barry Morris says software license revenue rose 33% from the third quarter to the fourth.

"Our next-generation Web Services Integration products are expected to ship in [the first quarter], and I am optimistic about their potential in 2003 and beyond," Morris said in a statement.