Pegasus Solutions announced financial results for the fourth quarter and year ended December 31, 2001.
Revenues were $38.9 million for the fourth quarter of 2001, compared to revenues from continuing operations of $39.6 million for the fourth quarter of the prior year. Fourth quarter EBITDA was $5.2 million, representing a 13 percent margin and a 9 percent margin increase from the fourth quarter of 2000. On a GAAP basis, net loss per share for the fourth quarter of 2001 was $0.14 compared to a net loss per share of $0.46 for the fourth quarter of 2000.
John F. Davis, chairman and chief executive officer of Pegasus Solutions said, “The events of 2001 created what was possibly the worst downturn in the history of travel. However, we are encouraged by trends indicating a recovery advancing faster than we expected, and as our core technology business continues to grow and produce favorable results.”