Travelport Worldwide Q4 Loss Narrows; Sees 2015 Earnings Below View

(RTTNews) - Travelport Worldwide Limited (TVPT) reported fourth-quarter net loss of $43 million or $0.35 per share, narrower than net loss of $50 million or $0.83 per share in the year-ago period.

The narrower net loss for the quarter reflects a $44 million decrease in interest expense related to the deleveraging, debt refinancing and IPO transactions completed in 2014. This was offset by a $21 million decline in operating income and a $10 million increase in the provision for income taxes.

Adjusted loss for the quarter was $0.01 per share, compared to adjusted loss of $0.41 per share in the prior-year quarter. On average, twelve analysts polled by Thomson Reuters expected the company to earn $0.02 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenue for the quarter rose 3 percent to $496 million from $480 million in the year-ago period, reflecting a 4 percent increase in Travel Commerce Platform revenue. Analysts had a consensus revenue estimate of $500.83 million for the quarter.

Looking ahead to fiscal 2015, Travelport Worldwide forecast adjusted earnings of $0.72 to $0.84 per share and net revenue of $2.16 billion to $2.24 billion. Street expects the company to earn $0.88 per share for the year on revenues of $2.22 billion.

On February 19, 2015, Travelport's board of directors declared a cash dividend of $0.075 per common share for the fourth quarter of 2014. The dividend will be payable on March 19, 2015 to shareholders of record on March 5, 2015.