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Datalex reports 30% reduction in operating loss
Datalex has announced a 30% reduction in first-quarter losses and issued an optimistic assessment for the full-year amid signs of “improving market conditions”.
Commenting on its first-quarter results, Neil Beck, ceo of Datalex said: “This quarter has benefited from the full impact of our 2001 cost reduction programme. This has resulted in improved margins and a 30% reduction in our operating loss for the quarter, which was in line with our business plan.
“The remainder of this year will be challenging, but we are gratified by the increased activity in the travel sector and we remain confident that Datalex is well positioned to capitalise on the improving market conditions that we have seen unfolding since the beginning of 2002.”
Total revenues for Q1 were $5.6 million, an increase of 3 percent quarter on quarter (Q4 2001: $5.5 million).
Increased gross margin for Q1 was 23 percent from 14 percent in Q4 2001, before non-cash share compensation charges. Services gross margin for Q1 was 5 percent from 2 percent in Q4 2001.
The company reported new agreements signed in the period with American Trans Air, Siemens Mobile Travel Solutions and PT Garuda Indonesia.
Read our previous stories:
15-Apr-2002 Datalex to de-list from NASDAQ as woes continue
12-Mar-2002 Datalex increases Yatra stake to 100%
20-Feb-2002 Datalex Q4 results hit by September 11 effect
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