Sabre Reports 4Q Net Loss of $14 Million
SOUTHLAKE, Texas (AP) _ Sabre Holdings Corp., which runs the world’s largest travel reservation system, Thursday said it swung to a fourth-quarter loss as charges hurt its bottom line.
The Southlake-based had a net loss of $14 million, or 10 cents a share, in the latest quarter. In the same period a year earlier it earned $1 million, or 1 cent a share.
Excluding items, the company had quarterly earnings of $1 million, or 1 cent a share.
The company had projected in October that the quarter would break even, excluding items.
Revenue for the latest quarter rose 3.2 percent to $467.3 million from $453 million.
For the full year, Sabre had net income of $83.3 million, or 58 cents a share, compared with $214.1 million, or $1.50 a share, a year before.
Revenue for 2003 was $2.04 billion, down from $2.06 billion.
Sabre is used by travel agencies and corporate travel departments to book airline tickets, rental car and hotel reservations. Its Travelocity Web site targets individual consumers.
American Airlines’ parent, AMR Corp., which developed Sabre, spun off its 83 percent stake in Sabre to AMR shareholders in 2000.
In midday trading, shares of Sabre climbed 45 cents, or 2.1 percent, to $21.59 on the New York Stock Exchange.