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CHICAGO Nov 12 Orbitz Worldwide OWW.N, which
became a publicly traded company in July, on Monday posted a
third-quarter net loss due largely to a charge related to its
initial public offering.
The company, formerly a unit of Travelport, said its
third-quarter loss was $32 million, or 38 cents per share,
compared with $9 million a year earlier.
Excluding items, including a $32 million IPO related
charge, Orbitz said it earned $43 million, or 23 cents per
share, compared with the $35 million that analysts were
expecting, according to Reuters Estimates.
On that basis, Orbitz had been expected to earn 13 cents
The company linked its increased adjusted profit to robust
travel bookings, particularly from international operations.
Orbitz said its third-quarter travel bookings increased 11
percent to $2.6 billion.
The on-line travel agency's stock closed down 4.74 percent
at $7.63 on the New York Stock Exchange.
Orbitz, which was spun off from Blackstone Group, in July
launched its shares near $15. The stock has fallen some 50
percent since its launch.
The company previously was owned by Cendant Corp.