Monday, 27 August 2007:Ireland-based software firm, Datalex has reported a net loss of US$0.9 million for its first six months of trading to June 30 2007, attributing the drop to cost pressures and the impact of a weak dollar.
The company continues to invest in its products, with the group revealing it completed a US$1.2 million charge resulting in a US$2 million drop in annual operating costs.
Revenue was said to increase by 26 per cent to US$15.7 million compared to the first half results of 2006, with big growth in its e-business, up 44 per cent to US$12.8 million.
CEO Cormac Whelan said the company will continue to invest in its product, with its investment of US$2.1 million during the first six months this year to bring the total to US$11.9million.
He said the results showed the benefits of Datalex’s transition from a licence-based to a transaction-based business model.
According to Mr Whelan, Datalex has delivered high quality functionality to the airline industry and offered opportunities for the leisure market, with travel agencies Flight Centre and STA Travel contracted to use its software.
´The combination of our business model and our product leave us with a strong pipeline of potential new customers´, he said.