Orbitz Posts $11 Million Quarterly Net Loss

Orbitz Worldwide reported a net loss in the fourth quarter of 2007 of $11 million or $0.13 per share. Net revenue increased to $197 million for the fourth quarter of 2007, up 10 percent from $179 million for the fourth quarter of 2006.

Adjusted EBITDA for the fourth quarter of 2007 was $37 million, an increase of 16 percent over fourth quarter 2006 levels. Adjusted earnings per share were $.12 for the fourth quarter of 2007.

The company saw strong growth due to the “excellent” performance of its international brands and “good” performance in the U.S., according to Steve Barnhart, CEO and president.

For the full year, Orbitz’s net revenue increased 14 percent to $859 million, versus $752 million in the prior year. Operating income for the full year 2007 was $42 million as compared to an operating loss of $118 million in 2006.

The company reported a net loss of $85 million for 2007 compared to a net loss of $146 million in 2006. For the year 2007, Adjusted EBITDA was $144 million, an increase of 27 percent over Adjusted EBITDA in 2006. Adjusted earnings per share was $0.67 for the year 2007, up from $.09 per share for 2006.