DOW JONES NEWSWIRES
November 05, 2009 07:03 ET (12:03 GMT)

Orbitz Worldwide Inc. (OWW) swung to a profit in the third quarter on a year-earlier charge while revenue dropped. The online travel-booking Web site's results were below analysts expectations.

Separately Thursday, the company announced equity investments totaling $100 million from PAR Investment
Partners and Travelport, controlled by Blackstone Group L.P. (BX). PAR will exchange $49.7 million in Orbitz debt for a stake of about 9.7% while Travelport will purchase 9 million shares, an approximate 11% stake, at $5.54 a share, a 2.4% premium to Wednesday's close.

Orbitz posted a profit of $7 million, or 8 cents a share, from a year-earlier loss of $287 million, or $3.44 a share. The previous year's results included write-downs of $297 million, or $3.56 per share.

Revenue decreased 22% to $187 million.

A survey of analysts by Thomson Reuters expected a 12-cent profit on $202 million in revenue.

Gross bookings fell 6.2% to $2.57 billion.

Orbitz Worldwide shares closed Wednesday at $5.41 and weren't active premarket.