Orbitz Worldwide Q4 Profit Rises - Quick Facts

(RTTNews) - Orbitz Worldwide Inc. (OWW) reported that its fourth-quarter net income increased to $7.30 million or $0.06 per share, from $5.34 million or $0.05 per share in the same quarter last year.

Gross bookings increased 10 percent year-over-year to $2.7 billion in the fourth quarter 2014. This increase was primarily driven by higher hotel, air and car transaction volume and higher average booking values per air transaction, partially offset by lower vacation package volume.

Net revenue increased 12 percent year-over-year to $220.6 million in the fourth quarter 2014. This increase was driven by higher hotel, air and car transaction volume and higher net revenue per hotel, car and vacation package transaction, partially offset by lower vacation package volume and lower net revenue per air transaction.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.07 per share and revenues of $220.10 million. Analysts' estimates typically exclude special items.

Orbitz Worldwide also announced that it has entered into a definitive agreement under which Expedia,Inc. (EXPE) will acquire Orbitz Worldwide for $12 per share in cash, which represents an enterprise value of approximately $1.6 billion.