800 Travel Announces Results for the First Quarter of 2000.Business & Travel Editors TAMPA, Fla.--(BUSINESS WIRE)--May 9, 2000 Revenues Increase as Gross Reservations Rise by More than 12% to $21.1 Million 800 TRAVEL SYSTEMS, INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : IFLY IFLY International Federation of Liberal Youth IFLY I Freaking Love You , IFLYW), a leading provider of travel-related products and services through its website www.LowAirfare.com and call centers, today announced results for the first quarter ended March 31, 2000. 800 Travel Systems reported $3.1 million in revenues for the first quarter of 2000, an increase of 7% from the $2.9 million in revenues reported for first quarter of 1999. The Company reported a net loss of $73,337 for the first three months of 2000 as compared to a net loss of $107,309 for the first quarter of 1999. The net loss per diluted share for both periods was $.01. Gross reservations for the first three months of 2000 increased by more than 12%, rising to $21.1 million from $18.7 million in the same period in the prior year. Mark D. Mastrini, Chief Executive Officer and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , commented, "As expected, during the first quarter of 2000, the Company incurred various expenses in preparation for the launch of our enhanced website, www.LowAirfare.com. We and our technology partners, Sabre Holdings Sabre Holdings or Sabre, Inc. is an American travel technology company, encompassing several brands in three global travel distribution channels: travel agency, airline, and direct to consumer. These areas are serviced by TSG's three main business groups. Inc. (NYSE NYSE See: New York Stock Exchange : TSG TSG The Smoking Gun (web site) TSG Technology Services Group (UK) TSG Technical Specification Group TSG Timing Signal Generator TSG Technical Support Group TSG Tumor Suppressor Gene TSG ThermoSalinoGraph ) and eBusiness Interactive Solutions, are very pleased to have completed that launch on April 25, 2000. While the Company expects to continue to incur additional marketing and operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. in order to expand our Internet initiatives over the next several quarters, we are very encouraged by the sizable increase in gross reservations 800 Travel achieved in the first three months of 2000." Peter M. Sontag, President, added, "800 Travel expects to add many exciting new products and services during the coming year. We have now successfully combined Internet travel buying with highly efficient, on-line, interactive, live help and, in the process, have built a travel e-fulfillment dynamo ready to support Internet commerce. Over the past month we have begun providing travel fulfillment for several companies and additional requests for service continue to present themselves. By acting as an outsourcing provider for other dot-com travel companies, we will be able to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. 800 Travel's existing infrastructure, available capacity and offer a valuable service to our growing industry." About 800 Travel Systems 800 Travel Systems is a leading provider of a full range of travel related products and services in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . 800 Travel Systems is headquartered at 4802 Gunn Highway, Tampa, Florida and employs more than 350 people, combined, in the Company's 33,000 square-foot data communications center in Tampa and a similar center in San Diego, California “San Diego” redirects here. For other uses, see San Diego (disambiguation). San Diego is a coastal Southern California city located in the southwestern corner of the continental United States. As of 2006, the city has a population of 1,256,951. . The Company provides low-priced travel products and services through the on-line reservation system located at http://www.LowAirfare.com in addition to its easy to remember toll free numbers "800-LOW-AIR FARE" (800-569-2473) AND "800-FLY-4-LESS" (800-359-4537). IRIS!(TM)is a trademark of e-Business Interactive Solutions, Inc. (EIS (1) (Executive Information System) An information system that consolidates and summarizes ongoing transactions within the organization. It provides top management with all the information it requires at all times from internal and external sources. ) and is an acronym for Interactive Reservation Internet System. More information on EIS is available on the World Wide Web at http://www.unifiedagent.com. Forward-looking and cautionary statements: This press release contains statements which may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. This press release may include forward-looking statements that do not refer strictly to historical results or actions, which although believed to be reasonable, are inherently uncertain and difficult to predict. Such statements are subject to certain risks and uncertainties inherent in 800 Travel Systems' business and investors and prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those projected as a result of various factors as set forth from time to time in the Company's filings with the SEC including its recently filed form 10-KSB for the year ended December 31, 1999. The Company undertakes no obligation to publicly update or revise the forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events. |
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