TRX reports first quarter 2012 results

Data Intelligence Leads Overall Product Portfolio Growth

Atlanta, 9 May 2012 — TRX, Inc, a world-leading provider of travel technology, process automation, consulting and data services, today reported financial results for the first quarter ended 31 March 2012.

Total revenues excluding client reimbursements for the quarter were US$ 11.9 million, compared with US$ 12.4 million in the first quarter of 2011. Net income was US$ 0.5 million for the first quarter of 2012 compared with US$ 0.4 million for the first quarter of 2011. Net income per diluted share was US$ 0.02 for both the first quarter of 2012 and 2011. Revenues from transaction processing services for the quarter were US$ 8.6 million, compared to US$ 10.0 million in the first quarter of 2011. Revenues from data intelligence services for the quarter were US$ 3.3 million, compared to US$ 2.4 million in the first quarter of 2011.

Adjusted EBITDA was US$ 1.4 million for the quarter, compared to US$ 1.7 million in the first quarter of 2011.

Unmatched in the industry

“We are excited by the continued growth in our data intelligence revenues, as feedback from current clients and new prospects alike confirms that our power, speed, features, and consulting expertise are unmatched in the industry,” said Shane Hammond, President and CEO of TRX, Inc. “In fact, despite the sale of our booking solution in late 2011, year-over-year revenues declined merely 4%.”

Growth across entire portfolio

“Overall, we were pleased to see growth across our entire portfolio of core products, from data to expense reporting to agency automation tools,” Hammond added. “Employee energy levels are high as our operational teams keep pace with client demands for new work. And since we have found that most companies who get to know our products become clients, we are focusing our marketing efforts in 2012 to ensure that as many decision makers as possible are introduced to our unique value proposition.”

Based on management’s expectations, TRX provided its calendar year 2012 financial guidance as follows:

  • Revenues of US$ 45 to US$ 47 million
  • Adjusted EBITDA of US$ 4.5 to US$ 5.5 million

End of press release

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