Key Developments: Orbitz Worldwide Inc (OWW.N)

OWW.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Orbitz Worldwide Inc Refinances Term Loan
Tuesday, 26 Mar 2013 09:03am EDT 

Orbitz Worldwide Inc announced it has secured new $450 million senior secured term loans consisting of a $150 million Tranche B term loan maturing in September 2017 and a $300 million Tranche C term loan maturing in March 2019. A portion of the net proceeds from the term loans, together with cash from the Company's balance sheet, was used to refinance $415 million of existing debt, which was scheduled to mature in July 2014, and $50 million are to be used to cash collateralize letters of credit. The Company also secured a new $65 million revolving credit facility replacing its $72.5 million revolving credit facility, which was scheduled to mature in July 2013. The revolving credit facility will be used for general corporate purposes.  Full Article

Orbitz Worldwide Inc Names Mike Randolfi As CFO
Friday, 22 Feb 2013 09:25am EST 

Orbitz Worldwide Inc announced that the appointment of Mike Randolfi as the Company's CFO, effective March 11. Mike joins Orbitz Worldwide from Delta Air Lines, where he currently serves as senior vice president and controller.  Full Article

Orbitz Worldwide Inc Issues Q1 2013 Guidance In Line With Analysts' Estimates; Issues FY 2013 Guidance; EBITDA Guidance Below Analysts' Estimates-Conference Call
Thursday, 14 Feb 2013 03:00pm EST 

Orbitz Worldwide Inc announced that for first quarter of 2013, it expects net revenue between $194 million and $200 million and adjusted EBITDA between $17 million and $21 million. For fiscal 2013, it expects net revenue growth between 2.5% and 5% and adjusted EBITDA growth between 5% and 10%. The Company reported revenue of $778.80 million and EBITDA of $116.29 million in fiscal 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $198 million and EBITDA of $19.9 million for first quarter of 2013; revenues of $813 million and EBITDA of $138 million for fiscal 2013.  Full Article

Orbitz Worldwide Inc Announces CFO Change-Form 8-K
Tuesday, 8 Jan 2013 10:10pm EST 

Orbitz Worldwide Inc reported in its Form 8-K that the Board of Directors of Orbitz Worldwide, Inc. (Company) appointed David Belmont as Interim Chief Financial Officer (CFO). On January 3, 2013, Mitch Marcus announced his intention to resign as Chief Financial Officer (CFO) to pursue other opportunities. Mr. Belmont's appointment and Mr. Marcus's resignation are both effective January 8, 2013.  Full Article

Orbitz Worldwide Inc Issues Q4 2012 Guidance In Line With Analysts' Estimates; Reaffirms FY 2012 Guidance-Conference Call
Wednesday, 7 Nov 2012 10:00am EST 

Orbitz Worldwide Inc announced that for the fourth quarter of 2012, it expect net revenue to be between $183 million and $189 million, and adjusted EBITDA between $32 million and $37 million. For fiscal 2012, it expects net revenue between $772 million and $778 million, and adjusted EBITDA of between $124.5 million and $129.5 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $184 million EBITDA of $36 million for the fourth quarter of 2012; revenues of $774 million for fiscal 2012.  Full Article

Orbitz Worldwide Inc To Appoint Mitch Marcus As Chief Financial Officer
Wednesday, 7 Nov 2012 08:01am EST 

Orbitz Worldwide Inc announced the appointment of Mitch Marcus as the Company's Chief Financial Officer, effective Nov. 12, 2012. David Belmont, who has served as interim CFO since June 2012, will return to his position as group vice president, financial planning and analysis.  Full Article

Orbitz Worldwide Inc Issues Q3 2012 Guidance Below Analysts' Estimates; Lowers FY 2012 Guidance-Conference Call
Wednesday, 8 Aug 2012 10:00am EDT 

Orbitz Worldwide Inc announced that for the third quarter of 2012, it expects net revenue to be in the range of $197-$203 million and adjusted EBITDA to be between $32 million and $38 million. For fiscal 2012, it now expects net revenue growth to be between 2% and 4% and adjusted EBITDA to be flat to up 5%. This guidance assumes FX rates as of July 31, 2012. The Company reported revenue of $767 million and EBITDA of $115 million in fiscal 2011. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $216 million and EBITDA of $42 million for the third quarter of 2012; and revenue of $808 million and EBITDA of $132 million for fiscal 2012.  Full Article

Orbitz profit aided by hotel, vacation packages; shares jump

- Orbitz Worldwide Inc reported a higher-than-expected quarterly profit on Thursday and said it was making investments to improve its airline-ticket business, sending its heavily shorted shares up 28 percent for their biggest gain since August.

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