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Worldspan Reports Third Quarter 2006 Results, Sees Slight DeclineNovember 13, 2006 By: Joe Pike Travel Agent
Worldspan, L.P. announced Monday financial results for the third quarter, which ended Sept. 30. The company reported revenues for the quarter of $212.5 million, operating income of $32.2 million and net income of $15.5 million. The company's financial results for the quarter were impacted by lower online bookings and by new airline content agreement pricing which became effective during the quarter. "This was a quarter of significant change for our company," said Rakesh Gangwal, chairman, president and chief executive officer for Worldspan. "We signed new content agreements with airline suppliers and introduced two new products into the marketplace. The revenue decline in the quarter was largely offset through efficient cost management which kept our profitability healthy."