Ambassadors Posts Loss

Thu., April 27, 2000

By Bert Caldwell bertc@spokesman.com (509) 459-5450

Ambassadors International Inc. ex perienced slightly higher losses for the first quarter compared with the same period last year, the travel services company reported.

Ambassadors lost $1.5 million, or 16 cents per share, on gross receipts of $17.4 million during the period ended March 31.

For the same three months of 1999, the company lost $1.2 million, or 12 cents per share, on gross receipts of $16.5 million.

Chief Operating Officer John Ueberroth said higher costs to support Education Group marketing and sports products operations caused much of loss, but he added that those investments will begin to pay off in the second and third quarters of this year.

“We look forward to continuing growth and improvements in all sectors,” he said in a release.

He noted the Spokane-based firm had increased its cash and cash-equivalent position to $122.8 million, of which $54.4 million was customer deposits.

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Ambassadors Posts Loss

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