revised its first-quarter earnings and revenue expectations late Tuesday.
The operator of Travelocity.com said that excluding items, it expects to earn 36 cents a share, down from its previous guidance of 38 cents to 42 cents a share, amid declining travel demand due to the war. Analysts were expecting 40 cents a share. The company earned 62 cents a share in the first quarter of 2002.
Including a one-time gain in revenue of $37 million and certain other items, the company said it expects to earn about 45 cents a share. Previously, the company had said it expected earnings of 32 cents to 36 cents a share including items.
Excluding the one-time gain, revenue will be $507 million, compared with previous guidance of a 4% to 6% decline from its year-ago revenue of $539.4 million. Analysts expect $528.7 million in sales. Including the one-time gain, Sabre expects revenue of $544 million.
Sabre will release results on April 17. Recently, shares of the Texas-based company were up 3.5% at $16.62.