TRX Transition, Correx Rebuild Continue As Q4 Revenues Fall

TRX today reported 29 percent lower fourth-quarter revenues of $18.6 million and a net loss of $4.2 million. Revenue reductions in customer care, data reporting and transaction processing were anticipated due to, respectively, a shift in TRX's business model away from customer care, a revised contract with Citibank, and lower transaction processing pricing for leisure travel (mainly driven by the extension of TRX's arrangement with Expedia.com at a lower price).