Datalex slashes losses by $7m

Travel software company Datalex cut full-year losses to $177,000 (€134,000) last year from $7.2m (€5.4m) in 2003.

While overall revenue increased by 5%, e-business revenue increased by 13% from $21.2m (€16m) to $23.9m (€18m). This increase was offset by a reduction in consulting revenue of 15% from $7.9m (€6m) to $6.7m (€5m).

"This is an exciting market at the moment, deregulation is happening all around us and global travel spend is due to double over the next 36 months. (We are) well positioned to take advantage of these exciting dynamics in the next couple of years,” said to Cormac Whelan, Chief Executive Officer of Datalex.

Founded in 1985, the company is headquartered in Dublin, Ireland, and maintains offices across Europe, the USA and Asia-Pacific. Datalex is a publicly held company traded on the Irish Stock Exchange.