SOUTHLAKE, Texas, -- Sabre chief executive William Hannigan said
his company's future growth will be driven by Travelocity, Site59
and the "acceleration of merchant model and online technology
initiatives."
That assessment came as Sabre, in releasing its fourth quarter
and full-year results, reported that revenue for the biggest chunk
of its business -- travel marketing and distribution -- declined 5%
to $1.57 billion.
Total bookings processed through the GDS fell 7.8% to 397
million.
The GDS company reported a $900,000 profit for the fourth
quarter, compared with a $69.7 million loss in fourth quarter 2001,
on a 5.7% increase in revenue.
Full-year earnings rose from $31.2 million to $214.1 million,
even though revenue dropped 3.5%.
Sabre's full-year revenue rose 2.2% for Travelocity to $308.3
million, 19.6% for GetThere to $50.8 million, and 3.3% for its
airline solutions business to $205.3 million.