Orbitz Worldwide, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, net revenue was $202,860,000 against $189,779,000 for the same period a year ago. Operating loss was $2,810,000 against operating profit of $3,944,000 for the same period a year ago. Loss before income taxes was $12,339,000 against $6,055,000 for the same period a year ago. Net income was $146,200,000 against net loss of $6,511,000 for the same period a year ago. Diluted net income per share was $1.34 against diluted net loss per share of $0.06 for the same period a year ago. Net cash provided by operating activities was $176,254,000 against $98,753,000 for the same period a year ago. Property and equipment additions were $8,264,000 against $12,550,000 for the same period a year ago. EBITDA was $11,689,000 against $17,778,000 for the same period a year ago. Adjusted EBITDA was $21,647,000 against $20,559,000 for the same period a year ago. Capital spending was $8,264,000 against $12,550,000 for the same period a year ago. Net income was due to the release of a $157.5 million valuation allowance related to the company's U.S. federal deferred tax assets. The increase in net revenue was primarily driven by higher hotel volume and higher net revenue per air, hotel and vacation package transaction. Net revenue in the first quarter 2013 also benefited from the addition of an airline servicing revenue stream for one of the company's private label distribution partners and higher advertising revenue. Operating cash flow was due primarily to growth in the company's global hotel business and to the timing of cash receipts and payments. The company provided earnings guidance for the second quarter and full year of 2013. For the second quarter 2013, the company expects net revenue in the range of $214 million to $220 million and adjusted EBITDA between $35 million and $39 million. For the full year 2013, the company expects net revenue growth in the range of four% to seven% and adjusted EBITDA growth between five% and ten%. The company announced impairment of property and equipment charges was $2,577,000 for the first quarter of 2013.

Orbitz Worldwide, Inc. announced that they will report Q1, 2013 results on May 09, 2013

Orbitz Worldwide, Inc., Board Meeting, Feb 10, 2013. Agenda: To consider agreements providing for severance benefits under certain conditions for each of David Belmont, Roger Liew and Chris Orton.