Orbitz shares jumped 35 cents, or 13.7 percent, to close at $2.90. The stock has traded between $2 and $8.99 during the past 52 weeks.

Late Monday, the Chicago-based company reported net income of $8 million, or 10 cents per share, compared with a loss of $11 million, or 13 cents per share, a year ago.

Revenue fell 9 percent to $180 million due to foreign exchange rate fluctuations and an 8 percent drop in gross bookings to $2.16 billion.

Analysts were expecting a loss of 4 cents per share on revenue of $189.9 million, according to a poll by Thomson Reuters.

"Orbitz Worldwide reported 4Q08 results that beat our conservative projections but still reflect very weak travel industry and economic conditions," said Stifel Nicolaus & Co. analyst George Askew, who maintained a "Hold" rating on the stock. "Importantly, the company is controlling what it can: costs."

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