Orbitz Reports Larger 4th Quarter Loss February 16th, 2011
CHICAGO, Feb. 16, 2011 /PRNewswire/ — Orbitz Worldwide, Inc. (NYSE: OWW) today
announced results for the fourth quarter and year ended December 31, 2010.
Fourth Quarter 2010 Financial Highlights
The company reported a net loss of $78.0 million or $(0.76) per diluted share
for the fourth quarter 2010 compared with a net loss of $18.1 million or $(0.21)
per diluted share for the fourth quarter 2009. The net loss for the fourth
quarter 2010 was due primarily to non-cash goodwill and intangible asset
impairment charges. Adjusted EBITDA was $26.3 million for the fourth quarter
2010, a decrease of 5 percent year over year.
Bloomberg News reports: Orbitz shares, down 29% this year, fell 4.8% to $3.96 in recent trading.