9-May-2011 11:32 AM

Orbitz Worldwide net loss widens in 1Q2011

Orbitz Worldwide revenue down 1% - financial highlights for the three months ended 31-Mar-2011:

  • Net revenue: USD184.9 million, -1% year-on-year;
    • Air: USD72.5 million, +1%;
  • EBITDA*: USD15.0 million, -41%;
  • Net profit (loss): (USD10.9 million), compared with a loss of USD5.3 million in p-c-p;
  • Gross bookings: 2975 million, +2%;
    • Air: USD2120 million, -1%;
  • 2Q2011 forecast:
    • Net revenue: USD194 million to USD200 million;
    • Adjusted EBITDA: USD29 million to USD34 million. [more]

* Non-GAAP financial measures

Orbitz Worldwide: “We're not satisfied with our overall Q1 results; performance across our individual businesses in the quarter was mixed. While ebookers and our private label distribution channel delivered strong performance, our US consumer business under performed,” Barney Harford, CEO. Source: Orbitz Worldwide, 05-May-2011.

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