Datalex announces $18m fall in losses

Datalex plc (ISE: DLE; OTC: DLEXY) today announced its full year results for the year ended 31 December 2002.

Full-year results include:

* Operating loss before goodwill amortisation and the charge for share awards to employees reduced from $29.4m in 2001 to $11.2m in 2002.

* Operating expenses before goodwill amortisation and the charge of share awards to employees, reduced from $35.1m in 2001 to $18.5m in 2002.

* An improvement in basic and diluted loss per share from $1.40 in 2001 to $0.31 in 2002.

* A net cash balance at 31 December 2002 of $39.1m.

* New agreements signed with American Trans Air, Saudi Arabian Airlines, South African Airways, Travelbag and Unisys.

* Successful penetration into new industry sectors and geographic markets through new contracts with Best Western International, LasVegas.com and T-Systems.

* New recurring revenue streams generated through fully managed hosting services.

* Deferred revenue balances increased from $2.6m in 2001 to $7.4m in 2002

In April 2002 Datalex voluntarily delisted from NASDAQ and took up a primary listing on the Irish Stock Exchange.