Datalex results show revenue decline in Q4

Datalex has announced results for Q4, 2001 and for the year 2001. Results show that revenues for the quarter were $5.5m, down 2% on Q3, 2001 and 49% on Q4, 2000.

Revenues for the year 2001 were $ 29.1m, down 13% from $ 33.3m in 2000.

Not including exceptional items, net operating loss was $ 28.5m, compared to $ 15.5m for 2000. However, due to restructuring net operating loss for Q4 at $ 5.6m was less than that for Q3 at $8.3m. Datalex had a strong cash balance at December 31, 2001 of $ 50.4m.

The company's results were in line with analysts' expectations. Datalex is a provider of software to the travel industry which is a sector which has suffered severely in the last six months and particularly since September 11.

It has been successful in lowering its cost base and it seems confident that it is well positioned to service new market opportunities. In Q4 it finalised an agreement with SilkAir (a subsidiary of Singapore Airlines).