Orbitz 2009 Annual Report Download - page 67

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ORBITZ WORLDWIDE, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in millions, except share and per share data)
Year Ended
December 31, 2008
Successor
Year Ended
December 31, 2007
Successor
Period from
August 23, 2006 to
December 31, 2006
Successor
Period from
January 1, 2006 to
August 22, 2006
Predecessor
Net revenue ............... $ 870 $859 $242 $ 510
Cost and expenses
Cost of revenue . . ......... 163 157 38 75
Selling, general and
administrative . ......... 272 301 112 191
Marketing ............... 310 302 89 188
Depreciation and
amortization . . ......... 66 57 18 37
Impairment of goodwill and
intangible assets ........ 297 — — 122
Total operating expenses ...... 1,108 817 257 613
Operating (loss) income...... (238) 42 (15) (103)
Other (expense) income
Interest expense, net ....... (63) (83) (9) (18)
Other income, net ......... — — — 1
Total other (expense)......... (63) (83) (9) (17)
Loss before income taxes and
minority interest ......... (301) (41) (24) (120)
(Benefit) provision for income
taxes ................... (2) 43 1 1
Minority interest, net of tax .... — 1 — —
Net loss .................. $ (299) $ (85) $ (25) $(121)
Year Ended
December 31, 2008
Period from
July 18, 2007 to
December 31, 2007
Net loss ................... $ (299) $ (42)
Net loss per share — basic and
diluted:
Net loss per share .......... $ (3.58) $ (0.51)
Weighted average shares
outstanding . . . .......... 83,342,333 81,600,478
See Notes to Consolidated Financial Statements.
67