Dublin-quoted travel software group Datalex reported a pre-tax loss of $1.4 million for fiscal 2008.
This compares to a pre-tax loss of €2.1 million in 2007 and includes amortisation of product development of $3 million, a foreign exchange loss of $0.7 million and interest income of $0.3 million.
Full-year 2008 revenue rose 7 per cent to $33 million driven by a 44 per cent increase in transaction revenue to $10.8 million and Earnings before interest, taxes, depreciation and amortisation (Ebitda) of $2million.
The company said that revenue growth was "slightly behind expectations" mainly as a result due of the strength of the dollar against euro and sterling in the second half of 2008.
Cash balances at year end amounted to $14.8million, down $4.4 million due to product development expenditure and foreign exchange differences.
Datalex said that 2009 is expected to be another difficult year for the travel industry. However, its chairman Michael Quinn said the company was well positioned to grow and develop its business this year.
