Worldspan Blames Losses on Refinancing
ATLANTA, GA, March 06, 2006. Worldspan has reported financial results for the fourth quarter and full year with revenues for the quarter of $207.8 million, operating income of $10.5 million and a net loss of $3.2 million.
For the year, the Company reported revenues of $953.8 million, operating income of $116.1 million and a net loss of $0.7 million. During the year, the Company incurred a $55.6 million charge related to a refinancing.
With this charge excluded, net income for the full year 2005 would have been $54.9 million, a $13 million improvement, or a 31% increase, over the full year results for 2004.
"We are pleased with the continued growth of our operating income in the quarter, given a challenging revenue environment" said Rakesh Gangwal, Chairman, President and Chief Executive Officer for Worldspan. "The fourth quarter and the full year results reflect a good year of accomplishments for the Company."
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