Datalex plc, today announced its half-year results for the six months ending 30 June 2002.
“Datalex`s results are generally in line with expectations for the first half of 2002, during which the group`s operating costs were reduced by over 40 percent on the comparative interim figures,” said Datalex Chief Executive Officer Neil Beck. “This period has seen some signs of recovery in the travel industry, in general, and the fuller realisation among prospective clients of the business value of Datalex`s Internet and e-Commerce technology. Datalex is well positioned to capitalize on these improving market conditions.”
First-half 2002 results include:
Operating loss before goodwill amortization and the fair-value charge of share awards to employees reduced from $15.5 million in H1 2001 to $7.2 million in H1 2002.
Operating expenses reduced from $18.9 million in H1 2001 to $10.5 million in H1 2002.
An improvement in basic and diluted loss per share from $0.44 in H1 2001 to $0.20 in H1 2002.
A net cash balance at 30 June 2002 of $41.8 million.
Strong revenue streams maintained with customers such as Worldspan, Air Canada, Amtrak and Singapore Airlines.
New agreements signed with American Trans Air, Siemens, PT Garuda Indonesia, Iterra (France), Saudi Arabian Airlines and South African Airlines.
In March 2002 Datalex acquired the remaining 50 percent of Yatra Corporation, which it did not already own, for a nominal cash consideration.
During the period, Datalex in April 2002 voluntarily delisted from NASDAQ and took up a primary listing on the Irish Stock Exchange.
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