Travelport on Friday reported 2018 revenue of $2.5 billion, a
4% increase from the year prior.
Travelport attributed the increase to growth in Travel
Commerce Platform revenue. That was also the reason given for its 3% uptick in
revenue in the fourth quarter, to $589 million.
The company's net income fell 46% in 2018, to $75 million.
Travelport attributed that drop largely to a $72 million decrease in operating
income and a $22 million increase in loss on early extinguishment of debt
because of debt refinancing in March.
For the fourth quarter, net income decreased 93% to $3
million, which Travelport attributed to a $24 million increase in income tax
expense and a $17 million increase in interest expense.
In a statement, Travelport president and CEO Gordon Wilson
said, "I am pleased to report that we ended the year with all of our full
year key financial performance measures either in line with or better than
management expectations and guidance. We also made significant operational
progress across our four customer priorities of delivering superior choice,
performance, experiences and intelligence in travel and payments."
Travelport did not hold an earnings call Friday in light of
its acquisition agreement with Siris Capital Group and Evergreen Coast Capital
Shareholders are expected to vote on the acquisition next
month. Pending shareholder and regulatory approvals, the
acquisition is expected to close in the first half of 2019.