Sabre Holdings Corporation has announced financial results for the first quarter of 2006, with the company reporting revenue for the first quarter of $700 million, up 20 percent, year-over-year.Diluted earnings per share were $0.24 on an adjusted basis compared to $0.37 in the year ago quarter. On a GAAP basis, diluted earnings per share were $0.13 compared to $0.44 in the same period last year. As expected, the year-over-year comparisons include the impact from several factors including a prior year asset sale, seasonality in Travelocity’s lastminute.com business, and interest expense and amortization related to the acquisition of lastminute.com.
“We had a strong start to the year with first quarter earnings at the high end of our projections and revenue growth of 20 percent year-over-year,” said Sam Gilliland, Chairman and CEO, Sabre Holdings. “Across our portfolio, we have made significant progress toward this year’s operational objectives, including deepening our relationships with major airlines, hoteliers and marketing partners. We are optimistic about our growth prospects this year and beyond.”