Travel software firm Datalex today said it had reduced its losses for 2003 to $7.1 million, down from $20.6 million the previous year.
The company said revenues increased by 13 per cent to $29.1 million from $25.8 million in 2002.
It reported a reduction in basic and diluted loss per share to $0.11 in 2003 from $0.31 in 2002.
Datalex's executive chairman Mr Michael Quinn said: "While this further continues the process of getting the company to profitability, the time lag from contract negotiations to revenue generation held back revenue growth".
Mr Quinn said: "2003 saw us receiving the World Travel Award for Leading Internet Booking Engine Technology Provider and this endorsement of our product quality positions us well to generate additional e-business revenues in the growing airline, travel and hospitality sectors".
Datalex said it had signed new contracts with Malaysia Airlines, American Express and Galileo for United Airlines.