|
Irish travel technology company Datalex released its Q1 results, reporting a USD5.27 million fall in revenues year-on-year.
Yet despite the fall in revenues, using US generally accepted accounting principles (GAAP), the company said that its operating expenses declined from over USD17 million in the first quarter of 2001, to only USD5.45 million in Q1 2002. Importantly losses from operations also fell to just over USD4 million, down from over USD13 million this time a year ago.
The company, which makes e-travel technology, said that loss per ordinary share were USD0.06, down from USD0.16, a figure that includes charges for non-cash stock. The company also pointed out that total revenues were also on the rise up sequentially by three percent.
"This quarter has benefited from the full impact of our 2001 cost reduction programme," claimed Neil Beck, chief executive officer. "This has resulted in improved margins and a 30 percent reduction in our operating loss for the quarter, which was in line with our business plan."
Beck went on to say that the remainder of this year will be challenging, but the increased activity in the sector bodes well for the firm, and market conditions are improving.
update to follow
|
