I-ON Communications Announces March Results, Business Development Updates, and Reaffirms 2018-2019 Business Outlook

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SEOUL, South Korea, June 19, 2018 /PRNewswire/ -- I-ON Communications, Ltd. ("I-ON") (OTCQB: IONI), www.i-on.net, a Seoul, South Korea based global enterprise software company focused on delivering leading web CMS and unstructured data management products and solutions to mid and large-scale enterprises, reported a new contract win, as well as financial results for the quarter ended March 31, 2018 reflected in I-ONs current report on Form 10-Q filed with the SEC on June 19, 2018. Gross and operating margins came in at losses primarily due to timing of revenue recognition on projects commenced and services provided, which as previously noted, ultimately carried over into the current June 30, 2018 period. I-ON is also currently finalizing terms with, among others, a major retailer and e-commerce company to begin a multi-purpose customized implementation of I-ONs core ICS (PaaS) platform, which is expected to close within weeks. I-ON remains optimistic about the health of its business prospects based on existing engagements and initiatives taking hold, as well as the intermediate to long-term secular growth trends reflected across the digital marketing ecosystem. As a result, the Company is maintaining its 2018 revenue guidance of $15-17 million, which assumes, as part of its stated strategy, the consummation of one acquisition by the end of the September 2018 and modest double digit organic growth.

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I-ON Communications Co., Ltd.

$5M to $10M