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Travelzoo

Travelzoo (TZOO)

8.545
-0.08
(-0.87%)
Closed July 18 4:00PM
8.545
0.00
( 0.00% )
Pre Market: 7:00AM

Your Hub for Real-Time streaming quotes, Ideas and Live Discussions

Key stats and details

Current Price
8.545
Bid
8.35
Ask
9.00
Volume
-
0.00 Day's Range 0.00
4.7701 52 Week Range 11.2285
Market Cap
Previous Close
8.545
Open
-
Last Trade
Last Trade Time
-
Financial Volume
-
VWAP
-
Average Volume (3m)
83,858
Shares Outstanding
13,097,998
Dividend Yield
-
PE Ratio
9.05
Earnings Per Share (EPS)
0.94
Revenue
84.48M
Net Profit
12.37M

About Travelzoo

Travelzoo acts as a publisher of travel and entertainment offers. It operates in three segments. Travelzoo North America segment consists of operations in Canada and the U.S.; Travelzoo Europe segment consists of operations in France, Germany, Spain, and the U.K.; and Jack's Flight Club segment cons... Travelzoo acts as a publisher of travel and entertainment offers. It operates in three segments. Travelzoo North America segment consists of operations in Canada and the U.S.; Travelzoo Europe segment consists of operations in France, Germany, Spain, and the U.K.; and Jack's Flight Club segment consists of subscription revenue from premium members to access and receive flight deals from Jack's Flight Club via email or via Android or Apple mobile applications. It derives its revenue through advertising fees including listing fees paid by travel, entertainment, and local businesses to advertise their offers on the company's media properties. Most of the company's revenue is derived from North America. Show more

Sector
Advertising
Industry
Advertising
Headquarters
Wilmington, Delaware, USA
Founded
1970
Travelzoo is listed in the Advertising sector of the NASDAQ with ticker TZOO. The last closing price for Travelzoo was $8.55. Over the last year, Travelzoo shares have traded in a share price range of $ 4.7701 to $ 11.2285.

Travelzoo currently has 13,097,998 shares outstanding. The market capitalization of Travelzoo is $111.92 million. Travelzoo has a price to earnings ratio (PE ratio) of 9.05.

TZOO Latest News

Travelzoo Q2 2024 Earnings Conference Call on July 25 at 11:00 AM ET

Travelzoo Q2 2024 Earnings Conference Call on July 25 at 11:00 AM ET PR Newswire NEW YORK, July 18, 2024 NEW YORK, July 18, 2024 /PRNewswire/ -- Travelzoo® (NASDAQ: TZOO):...

Matt Epstein Joins Travelzoo's Global Executive Team

Matt Epstein Joins Travelzoo's Global Executive Team PR Newswire NEW YORK, May 24, 2024 NEW YORK, May 24, 2024 /PRNewswire/ -- Travelzoo (NASDAQ: TZOO), the club for travel enthusiasts, has hired...

PeriodChangeChange %OpenHighLowAvg. Daily VolVWAP
10.95512.5823451917.598.867.52875138.33670392CS
40.6958.853503184717.858.867.12605967.91448055CS
12-0.025-0.2917152858818.579.487.12838588.16333732CS
26-0.035-0.4079254079258.5811.22857.12959868.92555195CS
520.0650.7665094339628.4811.22854.77011162718.27646401CS
156-3.815-30.865695792912.3616.724.1920788.23225582CS
260-6.065-41.512662559914.6119.833.04938258.47636037CS

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TZOO Discussion

View Posts
Bunti Bunti 2 months ago
Double bottom was formed on the weekly chart.
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Monksdream Monksdream 1 year ago
TZOO short or long who will win for the rest of 2023
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whytestocks whytestocks 5 years ago
News: $TZOO Travelzoo Reports First Quarter 2019 Results

NEW YORK, April 25, 2019 (GLOBE NEWSWIRE) -- Travelzoo® (NASDAQ: TZOO): Revenue of $30.8 million, up 3% year-over-year in constant currencies Operating profit of $5.0 million, up 36% year-over-year Cash flow from operations of $3.4 million Earnings per share (EPS) of $0.26 Tr...

Got this from https://marketwirenews.com/news-releases/travelzoo-reports-first-quarter-2019-results-8057240.html
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r clarke r clarke 5 years ago
$16.62 but I'm still seeing a one year target of $10?

... why is this moving up so far and can it be sustained?

High PE, etc.







"what a run from $6's t0 $20's



TZOO
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TheFinalCD TheFinalCD 6 years ago
what a run from $6's t0 $20's



TZOO




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stocktrademan stocktrademan 8 years ago
fast and steady profit scan TZOO bullish 12.83



normal chart


log chart

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r clarke r clarke 8 years ago
Kind of a mixed report, revenue down 6%, but the stock moved up nicely.

Now up at $11 Is it going up more, or is this a good time to lighten
holdings? Thoughts, ... buy, hold or short?
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magness magness 9 years ago
$TZOO: New SEC Filing for TZOO:

Form 8-K, No. 0001133311-15-000035

http://stocknewsflow.com/1133311_000113331115000035_0001133311-15-000035
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stockmarkot stockmarkot 9 years ago
Love my $tzoo guys look at $PPRO run by jay walker who founded priceline look at site of ppro and check out media been on cnbc fox bloomberg and many others but not pumping stock and been buying stock in open market - i think its a winnnnnerrrr
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lumpym lumpym 9 years ago
I got it back in March at 9.95. Looks good and should keep getting better. A nice and quiet stock that is performing rather well.
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jimmybob jimmybob 9 years ago
One of the tidbits of info that has me adding this dip on $TZOO ~

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jimmybob jimmybob 9 years ago
$TZOO generated positive operating cash flow 2.4 mil in Q1
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jimmybob jimmybob 9 years ago
$TZOO has $54M in cash, and no debt - $9.90 stock taking out cash ~
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jimmybob jimmybob 9 years ago
$TZOO managed to add more new members during the past quarter than in any quarter over the past three and a half years.
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stockmarkot stockmarkot 10 years ago
Could travelzoo be a takeover? Looks really cheap too me
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stockmarkot stockmarkot 10 years ago
Looks like bottom is in! Up we go
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stockmarkot stockmarkot 10 years ago
Moving up
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Happyme73db Happyme73db 10 years ago
Time to move up...
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stockmarkot stockmarkot 10 years ago
Bought! $tzoo is CHEAP
Travel Zoo all In
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Drmicrocap Drmicrocap 10 years ago
The "Street has TZOO coming in at .41 for the quarter that should be reported on or about April 17, 2014! All post's welcome! The "Good Dr's In"!
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scriznik scriznik 10 years ago
Travel sites killing it of late. TZOO is a grey under-the-radar play. Boost in profits, Buyout target... Many potential paths pointing upward.
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Drmicrocap Drmicrocap 10 years ago
Travelzoo Reports Fourth Quarter 2013 Results and Announces Share Repurchase Program
Business Wire Travelzoo Inc.
59 minutes ago
NEW YORK--(BUSINESS WIRE)--

Travelzoo Inc. (TZOO):

Fourth Quarter 2013 Financial Highlights:

Revenue of $37.5 million, up 1% year-over-year
Operating income of $4.5 million, up 3% year-over-year
Net income of $3.2 million
Earnings per share of $0.21, compared to $0.24 in the prior-year period
Cash used in operations was $1.8 million
Travelzoo Inc., a global Internet media company, today announced financial results for the fourth quarter ended December 31, 2013, with revenue of $37.5 million, an increase of 1% year-over-year. Operating income was $4.5 million, up 3% year-over-year. Net income was $3.2 million, with earnings per share of $0.21, down from $0.24 in the prior-year period.

Travelzoo also announced that its board of directors has authorized the repurchase of up to 500,000 of the company's outstanding common shares. Purchases may be made, from time to time, in the open market and will be funded from available cash. The number of shares to be purchased and the timing of purchases will be based on the level of Travelzoo's cash balances, general business and market conditions, and other factors, including alternative investment opportunities.

"Our Travel products showed continued strength in Q4, particularly in Europe, which contributed 40% of the company's profits. These gains were offset by revenue declines in SuperSearch and Fly.com," said Chris Loughlin, chief executive officer. "We will continue to invest in audience and products to spur future growth. These include our hotel booking platform, which is now in internal testing, as well as features that make it easier for our users to find deals when and where they need them, particularly on their mobile devices."

For the full year, revenue was $158.2 million, an increase of 5% year-over-year. GAAP operating income was $2.3 million, down 91% year-over-year. Non-GAAP operating income was $24.3 million, down 15% year-over-year. GAAP net loss was $5.0 million, with loss per share of $0.33, compared to earnings per share of $1.14 in the prior-year period. Non-GAAP net income was $17.0 million, with earnings per share of $1.11, down from $1.33 in the prior-year period. For the year ended December 31, 2013 and 2012, non-GAAP operating income, non-GAAP net income and non-GAAP earnings per share exclude a $22.0 million and a $3.0 million charge related to a reserve for Travelzoo Inc.'s settlement agreements in connection with a dispute over unclaimed property audits.

North America

North America business segment revenue decreased 3% year-over-year to $25.6 million. Operating profit for the fourth quarter was $2.7 million, or 10% of revenue, down from $3.4 million, or 13% of revenue, in the prior-year period.

Europe

Europe business segment revenue increased 12% year-over-year to $11.9 million. In local currency terms, revenue increased 11% year-over-year. Operating profit for the fourth quarter was $1.8 million, or 15% of revenue, up from $1.0 million, or 9% of revenue in the prior-year period.

Search Products

In response to declining revenue and profit from its Search products, which include SuperSearch and Fly.com, the Company has initiated a performance review, which may result in merging the products, discontinuing or replacing one or both of them. "Challenges in traffic acquisition from search engines and poor monetization on mobile devices have led to continued declines in Search revenue," said Glen Ceremony, chief financial officer. "As we are reviewing these products and working on their improvement, we will also put a stronger focus on profitability, which could result in a revenue decline of approximately $1.5 million from SuperSearch versus the prior-year period."

Subscribers

Travelzoo had a total unduplicated number of subscribers in North America and Europe of 23.3 million as of December 31, 2013, up 4% from December 31, 2012. In North America, total unduplicated number of subscribers was 16.6 million as of December 31, 2013, up 3% from December 31, 2012. In Europe, total unduplicated number of subscribers was 6.8 million as of December 31, 2013, up 6% from December 31, 2012.

Income Taxes

Income tax expense was $1.3 million, compared to $692,000 in the prior-year period. The effective income tax rate was 29%, up from 16% in the prior-year period.

Asset Management

During the fourth quarter of 2013, Travelzoo used $1.8 million of cash from operating activities. Accounts receivable increased by $360,000 over the prior-year period to $14.0 million. Accounts payable increased by $3.1 million over the prior-year period to $31.8 million. Capital expenditures were $1.9 million, up from $698,000 in the prior-year period. As of December 31, 2013, cash and cash equivalents were $66.2 million.

Non-GAAP Measures

To give an enhanced view of Travelzoo's operating performance, management has calculated non-GAAP operating expense, non-GAAP operating income, non-GAAP operating margin, non-GAAP effective tax rate, non-GAAP net income and non-GAAP earnings per share by excluding the charges related to our unexchanged promotional shares. The company believes these metrics assist investors to assess certain business trends in the same way that these trends are analyzed by management. The discussion of these non-GAAP metrics are not in accordance with GAAP and may differ from non-GAAP methods of accounting and reporting used by other companies. Non-GAAP metrics are merely a supplement to, and not a replacement for, GAAP financial measures. As the only difference between GAAP and non-GAAP measures is the charges related to our unexchanged promotional shares, today’s reporting should not be viewed as Travelzoo’s intention to report non-GAAP measures in future periods. Refer to the “Reconciliation of GAAP to Non-GAAP Measures” section of this press release for a summary of these non-GAAP measures and their reconciliation to the reported GAAP measures.

Conference Call

Travelzoo will host a conference call to discuss fourth quarter results at 11:00 a.m. ET today. Please visit http://www.travelzoo.com/earnings to

download the management presentation (PDF format) to be discussed in the conference call;
access the webcast.
About Travelzoo

Travelzoo Inc. is a global Internet media company. With more than 26 million subscribers in North America, Europe, and Asia Pacific and 25 offices worldwide, Travelzoo® publishes deals from more than 2,000 travel and entertainment companies. Travelzoo’s deal experts review offers to find the best deals and confirm their true value. In Asia Pacific, Travelzoo is independently owned and operated by Travelzoo (Asia) Ltd. and Travelzoo Japan K.K. under a license agreement with Travelzoo Inc.

Certain statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include, but are not limited to, statements about our plans, objectives, expectations, prospects and intentions, markets in which we participate and other statements contained in this press release that are not historical facts. When used in this press release, the words “expect,” “predict,” “project,” “anticipate,” “believe,” “estimate,” “intend,” “plan,” “seek” and similar expressions are generally intended to identify forward-looking statements. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including changes in our plans, objectives, expectations, prospects and intentions, and other factors discussed in our filings with the SEC. We cannot guarantee any future levels of activity, performance or achievements. Travelzoo undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release. Travelzoo and Top 20 are registered trademarks of Travelzoo Inc. All other company and product names mentioned are trademarks of their respective owners.


Travelzoo Inc.
Condensed Consolidated Statements of Operations
(Unaudited)
(In thousands, except per share amounts)

Three months ended Twelve months ended
December 31, December 31,
2013 2012 2013 2012
Revenues $ 37,475 $ 37,028 $ 158,234 $ 151,168
Cost of revenues 4,670 4,073 17,402 15,745
Gross profit 32,805 32,955 140,832 135,423
Operating expenses:
Sales and marketing 17,307 18,489 74,870 68,242
General and administrative 11,025 10,109 41,684 38,692
Unexchanged promotional shares — — 22,000 3,000
Total operating expenses 28,332 28,598 138,554 109,934
Income from operations 4,473 4,357 2,278 25,489
Other income 61 92 429 309
Income before income taxes 4,534 4,449 2,707 25,798
Income taxes 1,304 692 7,718 7,600
Net income (loss) $ 3,230 $ 3,757 $ (5,011 ) $ 18,198
Net income (loss) per share:
Basic $ 0.22 $ 0.24 $ (0.33 ) $ 1.15
Diluted $ 0.21 $ 0.24 $ (0.33 ) $ 1.14
Weighted Average Shares:
Basic 14,997 15,659 15,269 15,866
Diluted 15,072 15,659 15,269 15,901


Travelzoo Inc.
Condensed Consolidated Balance Sheets
(Unaudited)
(In thousands)

December 31,
2013
December 31,
2012
Assets
Current assets:
Cash and cash equivalents $ 66,223 $ 61,169
Accounts receivable, net 13,986 13,626
Income taxes receivable 2,656 6,682
Deposits 396 389
Prepaid expenses and other current assets 3,202 2,260
Deferred tax assets 1,143 2,194
Restricted cash 200 —
Funds held for reverse/forward stock split 13,668 —
Total current assets 101,474 86,320
Deposits, less current portion 1,168 1,107
Deferred tax assets, less current portion 2,032 1,710
Restricted cash 1,479 3,396
Property and equipment, net 8,245 4,314
Intangible assets, net 404 986
Total assets $ 114,802 $ 97,833
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable $ 31,766 $ 28,695
Accrued expenses 10,543 8,993
Deferred revenue 1,578 2,698
Deferred rent 281 280
Reserve for unexchanged promotional shares 12,726 3,000
Payable to shareholders for reverse/forward stock split 13,668 —
Total current liabilities 70,562 43,666
Long-term tax liabilities 10,436 10,030
Deferred rent, less current portion 2,469 798
Total liabilities 83,467 54,494
Common stock 163 163
Treasury stock (15,662 ) (7,898 )
Additional paid-in capital 10,247 8,863
Accumulated other comprehensive loss (530 ) (737 )
Retained earnings 37,117 42,948
Total stockholders’ equity 31,335 43,339
Total liabilities and stockholders’ equity $ 114,802 $ 97,833


Travelzoo Inc.
Condensed Consolidated Statements of Cash Flows
(Unaudited)
(In thousands)

Three months ended Twelve months ended
December 31, December 31,
2013 2012 2013 2012
Cash flows from operating activities:
Net income (loss) $ 3,230 $ 3,757 $ (5,011 ) $ 18,198
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization 795 683 2,980 2,539
Deferred income taxes 65 (2,174 ) 706 (2,178 )
Stock-based compensation 395 307 1,384 1,207
Provision for losses on accounts receivable 15 46 (29 ) 162
Net foreign currency effects (5 ) 1 33 (4 )
Changes in operating assets and liabilities:
Accounts receivable 932 1,784 (173 ) (285 )
Deposits (67 ) (24 ) (50 ) (406 )
Income tax receivable 1,873 3,351 4,042 5,171
Prepaid expenses and other current assets 290 328 (685 ) 87
Accounts payable 3,494 5,211 2,453 6,403
Accrued expenses 475 (630 ) 1,515 2,568
Deferred revenue (165 ) 190 (1,121 ) 513
Deferred rent 383 25 682 45
Income tax payable (1,298 ) (1 ) (6 ) (285 )
Reserve for unexchanged promotional shares (12,274 ) — 9,726 3,000
Other non-current liabilities 47 156 406 (35 )
Net cash provided by (used in) operating activities (1,815 ) 13,010 16,852 36,700
Cash flows from investing activities:
Purchases of intangible asset — (677 ) — (677 )
Release (purchases) of restricted cash — (272 ) 1,786 (272 )
Purchases of property and equipment (1,866 ) (698 ) (5,461 ) (2,744 )
Net cash used in investing activities (1,866 ) (1,647 ) (3,675 ) (3,693 )
Cash flows from financing activities:
Repurchase of common stock (7,764 ) (7,898 ) (7,764 ) (11,509 )
Reverse/forward stock split, including transaction costs (688 ) — (688 ) —
Net cash used in financing activities (8,452 ) (7,898 ) (8,452 ) (11,509 )
Effect of exchange rate on cash and cash equivalents 456 70 329 927
Net increase (decrease) in cash and cash equivalents (11,677 ) 3,535 5,054 22,425
Cash and cash equivalents at beginning of period 77,900 57,634 61,169 38,744
Cash and cash equivalents at end of period $ 66,223 $ 61,169 $ 66,223 $ 61,169
Supplemental disclosure of cash flow information:
Cash paid (received) for income taxes, net $ 562 $ (631 ) $ 2,479 $ 4,937


Travelzoo Inc.
Segment Information
(Unaudited)
(In thousands)

Three months ended December 31, 2013
North
America
Europe
Elimination
and Other
Consolidated
Revenue from unaffiliated customers $ 25,586 $ 11,889 $ — $ 37,475
Intersegment revenue 194 11 (205 ) —
Total net revenues 25,780 11,900 (205 ) 37,475
Operating income $ 2,680 $ 1,793 $ — $ 4,473

Three months ended December 31, 2012
North
America
Europe
Elimination
and Other
Consolidated
Revenue from unaffiliated customers $ 26,373 $ 10,655 $ — $ 37,028
Intersegment revenue 157 102 (259 ) —
Total net revenues 26,530 10,757 (259 ) 37,028
Operating income $ 3,387 $ 970 $ — $ 4,357

Twelve months ended December 31, 2013
North
America
Europe
Elimination
and Other (a)
Consolidated
Revenue from unaffiliated customers $ 111,955 $ 46,279 $ — $ 158,234
Intersegment revenue 814 452 (1,266 ) —
Total net revenues 112,769 46,731 (1,266 ) 158,234
Operating income $ 16,568 $ 7,710 $ (22,000 ) $ 2,278

Twelve months ended December 31, 2012
North
America
Europe
Elimination
and Other (a)
Consolidated
Revenue from unaffiliated customers $ 108,787 $ 42,381 $ — $ 151,168
Intersegment revenue 728 143 (871 ) —
Total net revenues 109,515 42,524 (871 ) 151,168
Operating income $ 21,481 $ 7,008 $ (3,000 ) $ 25,489

(a) Includes a charge of $22.0 million and $3.0 million for the twelve months ended December 31, 2013 and 2012, respectively, related to settlement agreements in connection with a dispute over unclaimed property audits.


Travelzoo Inc.
Reconciliation of GAAP to Non-GAAP Measures
(Unaudited)
(In thousands, except per share amounts)

Twelve months ended
December 31,
2013 2012
GAAP operating expense $ 138,554 $ 109,934
Unexchanged promotional shares (a) 22,000 3,000
Non-GAAP operating expense $ 116,554 $ 106,934

GAAP operating income $ 2,278 $ 25,489
Unexchanged promotional shares (a) 22,000 3,000
Non-GAAP operating income $ 24,278 $ 28,489

GAAP operating margin 1.4 % 16.9 %
Unexchanged promotional shares (a) 13.9 % 2.0 %
Non-GAAP operating margin 15.3 % 18.9 %

GAAP effective tax rate 285.1 % 29.5 %
Unexchanged promotional shares (a) (253.9 )% (3.1
)%
Non-GAAP effective tax rate 31.2 % 26.4 %

GAAP net income (loss) $ (5,011 ) $ 18,198
Unexchanged promotional shares (a) 22,000 3,000
Non-GAAP net income $ 16,989 $ 21,198

Earnings (loss) per share $ (0.33 ) $ 1.14
Unexchanged promotional shares (a) 1.44 0.19
Non-GAAP earnings per share (b) $ 1.11 $ 1.33

(a) Includes a charge of $22.0 million and a charge of $3.0 million for the twelve months ended December 31, 2013 and 2012, respectively, related to settlement agreements in connection with a dispute over unclaimed property audits.

(b) Shares used to calculate non-GAAP earnings per share for the twelve months ended December 31, 2013 were 15,355,160, which were different than the shares used in GAAP loss per share calculation due to the anti-dilutive effect on the GAAP loss per share.

Contact:
Media:
Travelzoo Inc.
Glen Ceremony, 212-484-4998
Chief Financial Officer
pr@travelzoo.com
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Armydog1 Armydog1 10 years ago
Told u!!!!
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Armydog1 Armydog1 10 years ago
Opens at 26.00 closes at 29.00.
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Armydog1 Armydog1 10 years ago
Blowout earning coming!!!
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Drmicrocap Drmicrocap 11 years ago
Travelzoo Q4 2013 Earnings Conference Call Thursday, January 23 at 11:00 AM ET
Business Wire Travelzoo Inc.
4 hours ago
NEW YORK--(BUSINESS WIRE)--

Travelzoo Inc. (TZOO):


WHAT: Travelzoo Inc. will host a conference call to discuss the Company’s financial results for the fourth quarter ended December 31, 2013. Travelzoo Inc. will issue a press release reporting its results before the market opens on January 23, 2014.

WHEN: Thursday, January 23, 2014 at 11:00 AM ET

HOW:
A live webcast of Travelzoo’s Q4 2013 earnings conference call can be accessed at http://ir.travelzoo.com/earnings.cfm. The webcast will be archived within 24 hours of the end of the call and will be available through the same link.

CONTACT: Investor Relations
Glen Ceremony, CFO, Travelzoo Inc.
gceremony@travelzoo.com

About Travelzoo

Travelzoo Inc. is a global Internet media company. With more than 26 million subscribers in North America, Europe, and Asia Pacific and 25 offices worldwide, Travelzoo® publishes deals from more than 2,000 travel, entertainment and local companies. Travelzoo Deal Experts review offers to find the best deals and confirm their true value. In Asia Pacific, Travelzoo is independently owned and operated by Travelzoo (Asia) Ltd. and Travelzoo Japan K.K. under a license agreement with Travelzoo Inc.

Certain statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include, but are not limited to, statements about our plans, objectives, expectations, prospects and intentions, markets in which we participate and other statements contained in this press release that are not historical facts. When used in this press release, the words “expect”, “predict”, “project”, “anticipate”, “believe”, “estimate”, “intend”, “plan”, “seek” and similar expressions are generally intended to identify forward-looking statements. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including changes in our plans, objectives, expectations, prospects and intentions and other factors discussed in our filings with the SEC. We cannot guarantee any future levels of activity, performance or achievements. Travelzoo undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release. Travelzoo and Top 20 are registered trademarks of Travelzoo. All other names are trademarks and/or registered trademarks of their respective owners.


Contact:
Media:
Travelzoo
Karyn Ravin, 212-829-0150 x1
pr@travelzoo.com
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Drmicrocap Drmicrocap 11 years ago
Travelzoo Reports Third Quarter 2013 Results
Business WirePress Release: Travelzoo Inc. – 14 hours ago

Travelzoo Inc. (TZOO):
Third Quarter 2013 Financial Highlights:
Revenue of $37.3 million, up 5% year-over-year
Non-GAAP net income of $3.0 million
Non-GAAP earnings per share of $0.19, compared to $0.21 in the prior-year period
GAAP net loss of $19.0 million; GAAP loss per share of $1.24
Cash flow from operations of $2.2 million
Travelzoo Inc., a global Internet media company, today announced financial results for the third quarter ended September 30, 2013, with revenue of $37.3 million, an increase of 5% year-over-year. Non-GAAP operating income was $4.0 million. Non-GAAP net income was $3.0 million, with non-GAAP earnings per share (non-GAAP EPS) of $0.19, down from non-GAAP EPS of $0.21 in the prior-year period. Non-GAAP operating income, non-GAAP net income and non-GAAP earnings per share exclude a $22.0 million charge related to a reserve for Travelzoo Inc.'s settlement agreements in connection with a dispute over unclaimed property audits.
"Our combined Travel business grew 16% year-over-year, this progress was offset by disappointing results in our Search and Local businesses," said Chris Loughlin, chief executive officer. "We continue to invest in product development in order to make it easier to find and book deals on Travelzoo and to spur future growth. We launched a new home page this quarter and intend to start beta-testing our new hotel booking platform at the beginning of next year. Purchases on mobile products increased 41% year-over-year. On the social media side, we are now one of the more active travel brands, with over 1.8 million combined fans and followers on Facebook and Twitter."
North America
North America business segment revenue increased 4% year-over-year to $26.2 million. Non-GAAP operating income for the third quarter ended September 30, 2013 was $2.5 million, or 10% of revenue, down from $3.1 million, or 12% of revenue, in the prior-year period.
Europe
Europe business segment revenue increased 7% year-over-year to $11.0 million. In local currency terms, revenue for the third quarter September 30, 2013 increased 9% year-over-year. Operating profit was $1.5 million, or 13% of revenue, up from an operating profit of $1.1 million, or 10% of revenue in the prior-year period.
Subscribers
Travelzoo had a total unduplicated number of subscribers in North America and Europe of 23.2 million as of September 30, 2013, up 4% from September 30, 2012. In North America, total unduplicated number of subscribers was 16.5 million as of September 30, 2013, up 3% from September 30, 2012. In Europe, total unduplicated number of subscribers was 6.7 million as of September 30, 2013, up 6% from September 30, 2012.
Income Taxes
Income tax expense was $1.2 million, compared to $896,000 in the prior-year period. The Non-GAAP effective income tax rate was 29%, up from 21% in the prior-year period.
Asset Management
During the third quarter of 2013, Travelzoo generated $2.2 million of cash from operating activities. Accounts receivable decreased by $622,000 over the prior-year period to $14.8 million. Accounts payable increased by $4.4 million over the prior-year period to $27.7 million. Capital expenditures were $1.5 million, up from $774,000 in the prior-year period. As of September 30, 2013, cash and cash equivalents were $77.9 million.
Unclaimed Property Audits
Travelzoo entered into agreements with 34 states to resolve those states’ claims related to unclaimed property audits. As previously disclosed in the Company’s reports on Form 10-K and Form 10-Q, multiple states have claimed that certain shares of Travelzoo, which were not claimed by former shareholders of Travelzoo.com Corporation following the 2002 merger, were unclaimed property. While the Company disputes the states’ claims, the Company determined that it was in its best interest to resolve the disputes and settle with 34 of the states.
The multi-state settlement relates to an approximate 700,000 shares of Travelzoo that those states claim may be subject to escheat. An additional 15 states remain that have or may raise claims on a remaining approximate 400,000 shares that were not exchanged following the merger by residents in those states.
The Company expects to make one-time cash payments to the 34 states after further due diligence, which it intends to make from cash on hand. To cover those payments, as well as potential future settlements with the remaining 15 states, the Company recorded an estimated $22.0 million charge in the three months ended September 30, 2013.
Non-GAAP Measures
To give an enhanced view of Travelzoo's operating performance, management has calculated non-GAAP operating expense, non-GAAP North America operating income, non-GAAP operating income, non-GAAP operating margin, non-GAAP effective tax rate, non-GAAP net income and non-GAAP earnings per share by excluding the charges related to our unexchanged merger shares. The company believes these metrics assist investors to assess certain business trends in the same way that these trends are analyzed by management. The discussion of these non-GAAP metrics are not in accordance with GAAP and may differ from non-GAAP methods of accounting and reporting used by other companies. Non-GAAP metrics are merely a supplement to, and not a replacement for, GAAP financial measures. As the only difference between GAAP and non-GAAP measures is the charges related to our unexchanged merger shares, today’s reporting should not be viewed as Travelzoo’s intention to report non-GAAP measures in future periods. Refer to the “Reconciliation of GAAP to Non-GAAP Measures” section of this press release for a summary of these non-GAAP measures and their reconciliation to the reported GAAP measures.
Conference Call
Travelzoo will host a conference call to discuss third quarter results at 11:00 a.m. ET today. Please visit http://www.travelzoo.com/earnings to
download the management presentation (PDF format) to be discussed in the conference call;
access the webcast.
About Travelzoo
Travelzoo Inc. is a global Internet media company. With more than 26 million subscribers in North America, Europe, and Asia Pacific and 25 offices worldwide, Travelzoo® publishes deals from more than 2,000 travel and entertainment companies. Travelzoo’s deal experts review offers to find the best deals and confirm their true value. In Asia Pacific, Travelzoo is independently owned and operated by Travelzoo (Asia) Ltd. and Travelzoo Japan K.K. under a license agreement with Travelzoo Inc.
Certain statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include, but are not limited to, statements about our plans, objectives, expectations, prospects and intentions, markets in which we participate and other statements contained in this press release that are not historical facts. When used in this press release, the words “expect,” “predict,” “project,” “anticipate,” “believe,” “estimate,” “intend,” “plan,” “seek” and similar expressions are generally intended to identify forward-looking statements. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including changes in our plans, objectives, expectations, prospects and intentions, and other factors discussed in our filings with the SEC. We cannot guarantee any future levels of activity, performance or achievements. Travelzoo undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release. Travelzoo and Top 20 are registered trademarks of Travelzoo Inc. All other company and product names mentioned are trademarks of their respective owners.

Travelzoo Inc.
Condensed Consolidated Statements of Operations
(Unaudited)
(In thousands, except per share amounts)

Three months ended Nine months ended
September 30, September 30,

2013 2012 2013 2012
Revenues $ 37,256 $ 35,447 $ 120,759 $ 114,140
Cost of revenues 4,322 3,989 12,733 11,672
Gross profit 32,934 31,458 108,026 102,468
Operating expenses:
Sales and marketing 18,449 17,427 57,563 49,753
General and administrative 10,510 9,836 30,659 28,583
Unexchanged promotional merger shares 22,000 — 22,000 3,000
Total operating expenses 50,959 27,263 110,222 81,336
Income (loss) from operations (18,025 ) 4,195 (2,196 ) 21,132
Other income 224 135 369 218
Income (loss) before income taxes (17,801 ) 4,330 (1,827 ) 21,350
Income taxes 1,235 896 6,414 6,908
Net income (loss) $ (19,036 ) $ 3,434 $ (8,241 ) $ 14,442
Net income (loss) per share:
Basic $ (1.24 ) $ 0.22 $ (0.54 ) $ 0.91
Diluted $ (1.24 ) $ 0.21 $ (0.54 ) $ 0.90
Weighted Average Shares:
Basic 15,362 15,884 15,362 15,935
Diluted 15,362 15,992 15,362 16,041


Travelzoo Inc.
Condensed Consolidated Balance Sheets
(Unaudited)
(In thousands)

September 30,
2013 December 31,
2012
Assets
Current assets:
Cash and cash equivalents $ 77,900 $ 61,169
Accounts receivable, net 14,818 13,626
Income taxes receivable 4,504 6,682
Deposits 501 389
Prepaid expenses and other current assets 3,483 2,260
Deferred tax assets 2,007 2,194
Total current assets 103,213 86,320
Deposits, less current portion 979 1,107
Deferred tax assets, less current portion 1,229 1,710
Restricted cash 1,618 3,396
Property and equipment, net 6,376 4,314
Intangible assets, net 540 986
Total assets $ 113,955 $ 97,833
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable $ 27,676 $ 28,695
Accrued unexchanged promotional merger shares 25,000 3,000
Accrued expenses 10,043 8,993
Deferred revenue 1,740 2,698
Deferred rent 306 280
Income tax payable 1,353 —
Total current liabilities 66,118 43,666
Long-term tax liabilities 10,388 10,030
Deferred rent, less current portion 1,423 798
Total liabilities 77,929 54,494
Common stock 163 163
Treasury stock (7,898 ) (7,898 )
Additional paid-in capital 9,851 8,863
Accumulated other comprehensive loss (797 ) (737 )
Retained earnings 34,707 42,948
Total stockholders’ equity 36,026 43,339
Total liabilities and stockholders’ equity $ 113,955 $ 97,833


Travelzoo Inc.
Condensed Consolidated Statements of Cash Flows
(Unaudited)
(In thousands)

Three months ended Nine months ended
September 30, September 30,
2013 2012 2013 2012
Cash flows from operating activities:
Net income (loss) $ (19,036 ) $ 3,434 $ (8,241 ) $ 14,442
Adjustments to reconcile net income to net cash provided
by operating activities:
Depreciation and amortization 709 630 2,185 1,856
Deferred income taxes 241 (3 ) 641 (3 )
Stock-based compensation 375 307 989 900
Provision for losses on accounts receivable (94 ) (84 ) (44 ) 116
Net foreign currency effects (74 ) (46 ) 38 (6 )
Changes in operating assets and liabilities:
Accounts receivable 1,021 53 (1,106 ) (2,069 )
Deposits (3 ) (17 ) 17 (382 )
Income tax receivable (1,424 ) 689 2,169 1,819
Prepaid expenses and other current assets 59 (161 ) (975 ) (241 )
Accounts payable (1,886 ) 680 (1,041 ) 1,189
Accrued unexchanged promotional shares 22,000 — 22,000 3,000
Accrued expenses (182 ) 897 1,039 3,198
Deferred revenue (109 ) 383 (956 ) 323
Deferred rent 188 55 299 21
Income tax payable 254 (1 ) 1,292 (284 )
Other non-current liabilities 149 34 359 (190 )
Net cash provided by operating activities 2,188 6,850 18,665 23,689
Cash flows from investing activities:
Purchases of restricted cash 2,048 — 1,786 —
Purchases of property and equipment (1,487 ) (774 ) (3,596 ) (2,046 )
Net cash provided by (used in) investing activities 561 (774 ) (1,810 ) (2,046 )
Cash flows from financing activities:
Cash used in purchase of common stock — (3,611 ) — (3,611 )
Net cash used in financing activities — (3,611 ) — (3,611 )
Effect of exchange rate on cash and cash equivalents 1,770 1,008 (124 ) 858
Net increase in cash and cash equivalents 4,519 3,473 16,731 18,890
Cash and cash equivalents at beginning of period 73,381 54,161 61,169 38,744
Cash and cash equivalents at end of period $ 77,900 $ 57,634 $ 77,900 $ 57,634
Supplemental disclosure of cash flow information:
Cash paid for income taxes, net $ 1,897 $ 177 $ 1,917 $ 5,568


Travelzoo Inc.
Segment Information
(Unaudited)
(In thousands)

Three months ended September 30, 2013 North
America
Europe
Elimination
and Other (a)
Consolidated
Revenue from unaffiliated customers $ 26,209 $ 11,047 $ — $ 37,256
Intersegment revenue 361 110 (471 ) —
Total net revenues 26,570 11,157 (471 ) 37,256
Operating income $ 2,506 $ 1,469 $ (22,000 ) $ (18,025 )

Three months ended September 30, 2012 North
America
Europe Elimination Consolidated
Revenue from unaffiliated customers $ 25,147 $ 10,300 $ — $ 35,447
Intersegment revenue 211 10 (221 ) —
Total net revenues 25,358 10,310 (221 ) 35,447
Operating income $ 3,121 $ 1,074 $ — $ 4,195

Nine months ended September 30, 2013 North
America Europe
Elimination
and Other (b)
Consolidated
Revenue from unaffiliated customers $ 86,368 $ 34,391 $ — $ 120,759
Intersegment revenue 757 440 (1,197 ) —
Total net revenues 87,125 34,831
(1,197
) 120,759
Operating income $ 13,888 $ 5,916 $ (22,000 ) $ (2,196 )

Nine months ended September 30, 2012 North
America Europe
Elimination
and Other (b)
Consolidated
Revenue from unaffiliated customers $ 82,415 $ 31,725 $ — $ 114,140
Intersegment revenue 496 41 (537 ) —
Total net revenues 82,911 31,766 (537 ) 114,140
Operating income $ 18,094 $ 6,038 $ (3,000 ) $ 21,132

(a) Includes a charge of $22.0 million for the three months ended September 30, 2013 related
to settlement agreements in connection with a dispute over unclaimed property audits.
(b) Includes a charge of $22.0 million and $3.0 million for the nine months ended September 30, 2013
and 2012, respectively, related to settlement agreements in connection with a dispute over
unclaimed property audits.


Travelzoo Inc.
Reconciliation of GAAP to Non-GAAP Measures
(Unaudited)
(In thousands, except per share amounts)

Three months ended Nine months ended
September 30, September 30,
2013 2012 2013 2012
GAAP operating expense $ 50,959 $ 27,263 $ 110,222 $ 81,336
Unexchanged merger shares (a) (b) 22,000 — 22,000 3,000
Non-GAAP operating expense $ 28,959 $ 27,263 $ 88,222 $ 78,336

GAAP operating income (loss) $ (18,025 ) $ 4,195 $ (2,196 ) $ 21,132
Unexchanged merger shares (a) (b) 22,000 — 22,000 3,000
Non-GAAP operating income $ 3,975 $ 4,195 $ 19,804 $ 24,132

GAAP operating margin (48.4) % 11.8 % (1.8) % 18.5 %
Unexchanged merger shares (a) (b) 59.1 % — % 18.2 % 2.6 %
Non-GAAP operating margin 10.7 % 11.8 % 16.4 % 21.1 %

GAAP effective tax rate (6.9) % 20.7 % (351.1) % 32.4 %
Unexchanged merger shares (a) (b) 36.4 % — % 382.9 % (4.0) %
Non-GAAP effective tax rate 29.4 % 20.7 % 31.8 % 28.4 %

GAAP net income (loss) $ (19,036 ) $ 3,434 $ (8,241 ) $ 14,442
Unexchanged merger shares (a) (b) 22,000 — 22,000 3,000
Non-GAAP net income $ 2,964 $ 3,434 $ 13,759 $ 17,442

Earnings (loss) per share $ (1.24 ) $ 0.21 $ (0.54 ) $ 0.90
Unexchanged merger shares (a) (b) 1.43 — 1.42 0.19
Non-GAAP earnings per share (c) $ 0.19 $ 0.21 $ 0.88 $ 1.09

(a) Includes a charge of $22.0 million for the three months ended September 30, 2013 related to
settlement agreements in connection with a dispute over unclaimed property audits.
(b) Includes a charge $22.0 million and $3.0 million for the nine months ended September 30, 2013
and 2012, respectively, related to settlement agreements in connection with a dispute over
unclaimed property audits.
(c) Shares used to calculate non-GAAP earnings per share for the three months ended September 30,
2013 were 15,482,802, which were different than the shares used in GAAP loss per share
calculation due to the anti-dilutive effect on the GAAP loss per share. Shares used to calculate
non-GAAP earnings per share for the nine months ended September 30, 2013 were 15,550,982,
which were different than the shares used in GAAP loss per share calculation due to the anti-
dilutive effect on the GAAP loss per share.

Contact:
Media:
Travelzoo, North America
Christie McConnell, 212-484-4912
cmcconnell@travelzoo.com
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Drmicrocap Drmicrocap 11 years ago
Travelzoo Q3 2013 Earnings Conference Call Thursday, October 17 at 11:00 AM ET
Business WirePress Release: Travelzoo Inc. – Thu, Oct 10, 2013 5:00 PM EDT

Travelzoo Inc. (TZOO):
WHAT: Travelzoo Inc. will host a conference call to discuss the Company’s financial results for the third quarter ended September 30, 2013. Travelzoo Inc. will issue a press release reporting its results before the market opens on October 17, 2013.

WHEN Thursday, October 17, 2013 at 11:00 AM ET

HOW:
A live webcast of Travelzoo’s Q3 2013 earnings conference call can be accessed at http://ir.travelzoo.com/earnings.cfm. The webcast will be archived within 24 hours of the end of the call and will be available through the same link.

CONTACT: Investor Relations
Glen Ceremony, CFO, Travelzoo Inc.
gceremony@travelzoo.com
About Travelzoo
Travelzoo Inc. is a global Internet media company. With more than 26 million subscribers in North America, Europe, and Asia Pacific and 25 offices worldwide, Travelzoo® publishes deals from more than 2,000 travel, entertainment and local companies. Travelzoo Deal Experts review offers to find the best deals and confirm their true value. In Asia Pacific, Travelzoo is independently owned and operated by Travelzoo (Asia) Ltd. and Travelzoo Japan K.K. under a license agreement with Travelzoo Inc.
Certain statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include, but are not limited to, statements about our plans, objectives, expectations, prospects and intentions, markets in which we participate and other statements contained in this press release that are not historical facts. When used in this press release, the words “expect”, “predict”, “project”, “anticipate”, “believe”, “estimate”, “intend”, “plan”, “seek” and similar expressions are generally intended to identify forward-looking statements. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including changes in our plans, objectives, expectations, prospects and intentions and other factors discussed in our filings with the SEC. We cannot guarantee any future levels of activity, performance or achievements. Travelzoo undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release. Travelzoo and Top 20 are registered trademarks of Travelzoo. All other names are trademarks and/or registered trademarks of their respective owners.

Contact:
Media:
Travelzoo, North America
Christie McConnell, 212-484-4912
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Drmicrocap Drmicrocap 11 years ago
Travelzoo Restaurant Offers Inspire First-Time Visits; 81 Percent Plan to Return at Full Price Press Release: Travelzoo – Thu, Jun 20, 2013 10:16 AM EDT

NEW YORK, June 20, 2013 /PRNewswire/ -- Travelzoo Inc. ( TZOO), a global Internet media company, revealed today that its subscribers are using Travelzoo to discover restaurants, both at home and while on vacation, and are later returning as full-price guests, according to an independent survey. Of those diners who purchased a restaurant offer on Travelzoo in the past 12 months, 24 percent have already returned for a full-price experience; a further 57 percent plan to return to the restaurant in the future. In addition, 61 percent of Travelzoo subscribers share their positive experiences with friends and family.

Travelzoo dining offers inspire subscribers to make their first visit to a restaurant. Of those who took up a Travelzoo offer, 56 percent went to a restaurant featured on Travelzoo that they would not have otherwise visited. Forty-eight percent recommended restaurants to their friends or family after trying it out with a Travelzoo offer.

In addition to a high percentage returning at full price, 59 percent of Travelzoo diners spend at least 30 percent more than the face value of the offer while dining. Twenty-five percent of Travelzoo diners say they are using Travelzoo to discover restaurants while on vacation.

"Travelzoo has become a force in high-quality dining. Since 2011 we have inspired our subscribers to book more than 2 million tables," said Mike Stitt, vice president and general manager of Travelzoo Local. "Our focus on featuring only high-quality restaurants that offer our subscribers exceptional experiences has been a win-win-win for our brand, our subscribers and those restaurants that we recommend. We now have 26 million subscribers using Travelzoo to discover restaurants they might have never found on their own."

The survey results confirmed Travelzoo restaurant customers are mature and affluent, with 80 percent falling between the ages of 35 to 64, and half having individual annual incomes of $100,000 or more. Two out of three customers are female, with 71 percent considering themselves 'foodies.' Seventy-eight percent live with another adult, and 80 percent have no children living at home, providing more freedom to dine out and greater flexibility to take advantage of dining opportunities. Fifty-seven percent of Travelzoo restaurant customers have dinner at a restaurant between three and seven times per week.

Qualitative feedback from Travelzoo's restaurant partners confirms the quantitative insights from the independent survey:

Chef and owner, Kerry Simon, Simon Restaurant at the Palms Casino Resort, Las Vegas:

"For us, Travelzoo is one of the most effective ways to get visitors to Las Vegas into the restaurant that are definite foodies. I am so impressed with how this works to fill our restaurant almost immediately with a quality clientele that appreciate what we do and spend more. And, because it enables us to reach a national audience of travelers, it is always great exposure for our brand. We have worked with Travelzoo over ten times and this is now part of our ongoing marketing plan."

Marc Glosserman, Founder & CEO, Hill Country Hospitality, Washington, D.C.:

"We have found that partnering with Travelzoo has not only provided a nice jolt to our business in the periods that we run promotions, but that Travelzoo guests are genuinely seeking a quality dining experience -- and it certainly doesn't hurt that they typically spend more in the restaurant than the value of the voucher they are redeeming."

Bart Retolatto, Executive Chef, La Bottega, New York:

"Travelzoo guests are high-quality, sophisticated diners who have taken great interest in the food and proactively interact with the chef. They tend to be 'foodies' and we appreciate that many were true locals from our Chelsea neighborhood."

2013 Travelzoo Dining Survey methodology:

The survey was conducted in April 2013 by ORC International, a leading global market research firm. ORC International surveyed Travelzoo's U.S. subscribers and conducted the survey among a sample of 833 respondents that had purchased a restaurant voucher in the past 12 months.

About Travelzoo

Travelzoo Inc. is a global Internet media company. With more than 26 million subscribers in North America, Europe, and Asia Pacific and 25 offices worldwide, Travelzoo® publishes deals from more than 2,000 travel and entertainment companies. Travelzoo's deal experts review offers to find the best deals and confirm their true value. In Asia Pacific, Travelzoo is independently owned and operated by Travelzoo (Asia) Ltd. and Travelzoo Japan K.K. under a license agreement with Travelzoo Inc.

Certain statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include, but are not limited to, statements about our plans, objectives, expectations, prospects and intentions, markets in which we participate and other statements contained in this press release that are not historical facts. When used in this press release, the words "expect", "predict", "project", "anticipate", "believe", "estimate", "intend", "plan", "seek" and similar expressions are generally intended to identify forward-looking statements. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including changes in our plans, objectives, expectations, prospects and intentions and other factors discussed in our filings with the SEC. We cannot guarantee any future levels of activity, performance or achievements. Travelzoo undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release. Travelzoo and Top 20 are registered trademarks of Travelzoo. All other names are trademarks and/or registered trademarks of their respective owners.

Media Contact:
Mindy Joyce
Sugarfly Marketing
+1 (646) 259-1546
mindy@sugarflymarketing.com

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3dprinting 3dprinting 11 years ago
Just curious, how many here got the free shares when they offered it? How many still have it?
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TheFinalCD TheFinalCD 11 years ago
back to $27's
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TheFinalCD TheFinalCD 11 years ago

Travelzoo Inc. Board of Directors Approves Reverse/Forward Stock Split





Print


Alert



Travelzoo Inc. (MM) (NASDAQ:TZOO)
Intraday Stock Chart

Today : Wednesday 12 June 2013
Click Here for more Travelzoo Inc. (MM) Charts.

Travelzoo Inc. (NASDAQ: TZOO), a global Internet media company, today announced that a Special Committee of its Board of Directors, consisting of three independent directors (the “Special Committee”), and its full Board of Directors unanimously approved a reverse/forward stock split transaction, subject to shareholder approval, intended to reduce its shareholder account administration costs by reducing the number of its shareholders from over 90,000 to fewer than 10,000.

The proposed reverse/forward stock split transaction consists of a 1-for-25 reverse stock split of the Company's outstanding common stock, followed immediately by a 25-for-1 forward stock split (collectively referred to as the “reverse/forward split”). Shareholders holding less than 25 shares of common stock immediately prior to the reverse split will not receive fractional shares in the reverse stock split, but will instead have their shares converted into the right to receive a cash payment in exchange for and in proportion to the fractional share interests resulting from the reverse stock split. These fractional share interests will be aggregated by the Company’s transfer agent and sold on the open market following the forward stock split.

Shareholders who held less than 25 shares immediately prior to the reverse stock split will receive a cash payment based on and equal to their resulting fractional interest times the price of a share equal to the higher of (a) the trailing ten day average trading price of the Company’s common stock immediately preceding consummation of the reverse/forward split or (b) the average aggregate sales price received in the sale on the open market of the shares resulting from aggregation of the fractionalized interests. Shareholders holding 25 or more shares of common stock immediately before the reverse/forward split will not receive a cash payment, but will continue to hold the same number of shares after completion of the reverse/forward split as they held immediately prior. As a result, the Company anticipates no changes in the total number of outstanding shares of common stock as a result of the reverse/forward split.

Shareholders holding fewer than 25 shares can avoid being cashed out by this proposed transaction by increasing their shareholdings to 25 or more shares of common stock or, if applicable, combining their various accounts to have one shareholder account with 25 or more shares held, so long as such actions are effected prior to completion of the reverse/forward split. The Company expects both registered and beneficial shareholder accounts holding less than 25 shares of common stock will be cashed out; however, persons that beneficially hold shares through a nominee (such as a broker or bank) will be advised to contact their nominee to be informed of any procedures such holders may need to follow in order to ensure the same treatment as registered shareholders.

The Company expects that approximately 655,000 of its outstanding shares will be fractionalized as a result of the reverse stock split and subsequently sold by the Company’s transfer agent on the open market to fund the cash payments to shareholders that hold only fractional share interests as a result of the reverse stock split.

The Special Committee engaged Duff & Phelps, LLC as financial advisors to review the fairness of the transaction, and received from them an opinion regarding the fairness, from a financial point of view, to the Company's shareholders whose positions, individually considered, consist of fewer than 25 shares, of the per-share consideration to be received by such shareholders in the reverse/forward split.

Closing of the transaction is conditioned upon receipt of a bring-down fairness opinion prior to the execution of the proposed reverse/forward split and approval by the Company's shareholders, including a majority of the Company's non-affiliated shareholders.

The Special Committee received legal counsel from Young Conaway Stargatt & Taylor, LLP in connection with their review of the proposed transaction. In addition, the Company received legal counsel from Skadden, Arps, Slate, Meagher & Flom LLP and Bryan Cave LLP in connection with the proposed transaction.

The Company plans to seek shareholder approval of this proposed transaction at its annual shareholders' meeting in order to reduce proxy-related costs. The Company expects to file with the Securities and Exchange Commission ("SEC") its preliminary proxy statement for the annual meeting and the proposed reverse/forward split and will determine the annual meeting date, which will be disclosed in the definitive proxy statement to be filed with the SEC and mailed to shareholders entitled to vote at the meeting.

The Special Committee retains the right to defer or abandon the proposed transaction at any time prior to its completion, even if shareholder approval is obtained.

This press release is only a description of the proposed transaction and is not an offer to sell or acquire any shares of common stock.

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TheFinalCD TheFinalCD 11 years ago
agree TZOO huge short position!
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MONEYMADE MONEYMADE 11 years ago
GM....should have happened months ago..IDIOT SHORTS
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TheFinalCD TheFinalCD 11 years ago
getting close!
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TheFinalCD TheFinalCD 11 years ago
from $16- $27 about 50% nice move http://investorshub.advfn.com/boards/read_msg.aspx?message_id=82725904
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Drmicrocap Drmicrocap 11 years ago
Travelzoo Reports First Quarter 2013 Results
Press Release: Travelzoo – 4 hours ago.. .

Travelzoo Inc. (TZOO):
• Revenue of $42.2 million, up 7% year-over-year
• Net income of $5.6 million, up 49% year-over-year
• Earnings per share of $0.36, compared to $0.23 (GAAP) / $0.42 (non-GAAP) in the prior-year period
• Cash flow from operations of $6.5 million

Travelzoo Inc., a global Internet media company, today announced financial results for the first quarter ended March 31, 2013, with revenue of $42.2 million, an increase of 7% year-over-year. Operating profit was $8.0 million. Net income was $5.6 million, with earnings per share of $0.36, up from $0.23 in the prior-year period. Non-GAAP earnings per share was $0.36, down from $0.42 in the prior-year period.

“We kicked off 2013 with record revenues, driven by strong performance within our travel segments in both North America and Europe,” said Chris Loughlin, chief executive officer. “We accelerated subscriber growth and made significant improvements in audience engagement across email, social media and mobile apps. We continued to develop our new hotel booking platform, which we plan to roll out later this year.”

North America

North America business segment revenue increased 5% year-over-year to $30.2 million. Operating profit for the first quarter was $5.5 million, or 18% of revenue, down from $7.1 million, or 25% of revenue, in the prior-year period. The decrease in operating profit was a result of increased expenses related to sales force expansion, hotel booking platform development, traffic acquisition and subscriber marketing.

Europe

Europe business segment revenue increased 14% year-over-year to $12.4 million. In local currency terms, revenue for the first quarter increased 14% year-over-year. Operating profit was $2.5 million, or 21% of revenue, up from an operating profit of $2.4 million, or 23% of revenue in the prior-year period.

Subscribers

Travelzoo had a total unduplicated number of subscribers in North America and Europe of 22.9 million as of March 31, 2013, up 5% from March 31, 2012. In North America, total unduplicated number of subscribers was 16.3 million as of March 31, 2013, up 3% from March 31, 2012. In Europe, total unduplicated number of subscribers was 6.5 million as of March 31, 2013, up 9% from March 31, 2012.

Income Taxes

Income tax expense was $2.5 million, compared to $2.9 million in the prior-year period. The non-GAAP effective income tax rate was 31%, up from 30% in the prior-year period.

Asset Management

During the first quarter 2013, Travelzoo generated $6.5 million of cash from operating activities. Accounts receivable increased by $648,000 over the prior-year period to $15.3 million. Accounts payable increased by $4.5 million over the prior-year period to $26.9 million. Capital expenditures were $900,000, up from $678,000 in the prior-year period. Travelzoo exited the first quarter with $65.1 million in cash and cash equivalents.

Non-GAAP Measures

To give an enhanced view of the company's operating performance, management has calculated non-GAAP operating income, non-GAAP net income and non-GAAP earnings per share by excluding the $3 million charge related to our unexchanged promotional merger shares in the prior-year period. The company believes these metrics assist investors to assess certain business trends in the same way that these trends are analyzed by management. The discussion of non-GAAP operating income, non-GAAP net income, and non-GAAP earnings share are not in accordance with GAAP and may differ from non-GAAP methods of accounting and reporting used by other companies. Non-GAAP numbers are merely a supplement to, and not a replacement for, GAAP financial measures. As the only difference between GAAP and non-GAAP measures is the charge related to our unexchanged promotional merger shares in the prior- year period, today's reporting should not be viewed as the company's intention to report non-GAAP measures in future periods. Refer to the “Reconciliation of GAAP to Non-GAAP Measures” section of this release for a summary of these non-GAAP measures and their reconciliation to the reported GAAP measures.

Conference Call

Travelzoo will host a conference call to discuss first quarter results at 11:00 a.m. ET today. Please visit http://www.travelzoo.com/earnings to
• download the management presentation (PDF format) to be discussed in the conference call;
• access the webcast.

About Travelzoo

Travelzoo Inc. is a global Internet media company. With more than 26 million subscribers in North America, Europe, and Asia Pacific and 25 offices worldwide, Travelzoo® publishes deals from more than 2,000 travel and entertainment companies. Travelzoo’s deal experts review offers to find the best deals and confirm their true value. In Asia Pacific, Travelzoo is independently owned and operated by Travelzoo (Asia) Ltd. and Travelzoo Japan K.K. under a license agreement with Travelzoo Inc.

Certain statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include, but are not limited to, statements about our plans, objectives, expectations, prospects and intentions, markets in which we participate and other statements contained in this press release that are not historical facts. When used in this press release, the words “expect,” “predict,” “project,” “anticipate,” “believe,” “estimate,” “intend,” “plan,” “seek” and similar expressions are generally intended to identify forward-looking statements. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including changes in our plans, objectives, expectations, prospects and intentions, and other factors discussed in our filings with the SEC. We cannot guarantee any future levels of activity, performance or achievements. Travelzoo undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release. Travelzoo and Top 20 are registered trademarks of Travelzoo Inc. All other company and product names mentioned are trademarks of their respective owners.
👍️0
Drmicrocap Drmicrocap 11 years ago
Travelzoo Reports First Quarter 2013 Results
Press Release: Travelzoo – 4 hours ago.. .

Travelzoo Inc. (TZOO):
• Revenue of $42.2 million, up 7% year-over-year
• Net income of $5.6 million, up 49% year-over-year
• Earnings per share of $0.36, compared to $0.23 (GAAP) / $0.42 (non-GAAP) in the prior-year period
• Cash flow from operations of $6.5 million

Travelzoo Inc., a global Internet media company, today announced financial results for the first quarter ended March 31, 2013, with revenue of $42.2 million, an increase of 7% year-over-year. Operating profit was $8.0 million. Net income was $5.6 million, with earnings per share of $0.36, up from $0.23 in the prior-year period. Non-GAAP earnings per share was $0.36, down from $0.42 in the prior-year period.

“We kicked off 2013 with record revenues, driven by strong performance within our travel segments in both North America and Europe,” said Chris Loughlin, chief executive officer. “We accelerated subscriber growth and made significant improvements in audience engagement across email, social media and mobile apps. We continued to develop our new hotel booking platform, which we plan to roll out later this year.”

North America

North America business segment revenue increased 5% year-over-year to $30.2 million. Operating profit for the first quarter was $5.5 million, or 18% of revenue, down from $7.1 million, or 25% of revenue, in the prior-year period. The decrease in operating profit was a result of increased expenses related to sales force expansion, hotel booking platform development, traffic acquisition and subscriber marketing.

Europe

Europe business segment revenue increased 14% year-over-year to $12.4 million. In local currency terms, revenue for the first quarter increased 14% year-over-year. Operating profit was $2.5 million, or 21% of revenue, up from an operating profit of $2.4 million, or 23% of revenue in the prior-year period.

Subscribers

Travelzoo had a total unduplicated number of subscribers in North America and Europe of 22.9 million as of March 31, 2013, up 5% from March 31, 2012. In North America, total unduplicated number of subscribers was 16.3 million as of March 31, 2013, up 3% from March 31, 2012. In Europe, total unduplicated number of subscribers was 6.5 million as of March 31, 2013, up 9% from March 31, 2012.

Income Taxes

Income tax expense was $2.5 million, compared to $2.9 million in the prior-year period. The non-GAAP effective income tax rate was 31%, up from 30% in the prior-year period.

Asset Management

During the first quarter 2013, Travelzoo generated $6.5 million of cash from operating activities. Accounts receivable increased by $648,000 over the prior-year period to $15.3 million. Accounts payable increased by $4.5 million over the prior-year period to $26.9 million. Capital expenditures were $900,000, up from $678,000 in the prior-year period. Travelzoo exited the first quarter with $65.1 million in cash and cash equivalents.

Non-GAAP Measures

To give an enhanced view of the company's operating performance, management has calculated non-GAAP operating income, non-GAAP net income and non-GAAP earnings per share by excluding the $3 million charge related to our unexchanged promotional merger shares in the prior-year period. The company believes these metrics assist investors to assess certain business trends in the same way that these trends are analyzed by management. The discussion of non-GAAP operating income, non-GAAP net income, and non-GAAP earnings share are not in accordance with GAAP and may differ from non-GAAP methods of accounting and reporting used by other companies. Non-GAAP numbers are merely a supplement to, and not a replacement for, GAAP financial measures. As the only difference between GAAP and non-GAAP measures is the charge related to our unexchanged promotional merger shares in the prior- year period, today's reporting should not be viewed as the company's intention to report non-GAAP measures in future periods. Refer to the “Reconciliation of GAAP to Non-GAAP Measures” section of this release for a summary of these non-GAAP measures and their reconciliation to the reported GAAP measures.

Conference Call

Travelzoo will host a conference call to discuss first quarter results at 11:00 a.m. ET today. Please visit http://www.travelzoo.com/earnings to
• download the management presentation (PDF format) to be discussed in the conference call;
• access the webcast.

About Travelzoo

Travelzoo Inc. is a global Internet media company. With more than 26 million subscribers in North America, Europe, and Asia Pacific and 25 offices worldwide, Travelzoo® publishes deals from more than 2,000 travel and entertainment companies. Travelzoo’s deal experts review offers to find the best deals and confirm their true value. In Asia Pacific, Travelzoo is independently owned and operated by Travelzoo (Asia) Ltd. and Travelzoo Japan K.K. under a license agreement with Travelzoo Inc.

Certain statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include, but are not limited to, statements about our plans, objectives, expectations, prospects and intentions, markets in which we participate and other statements contained in this press release that are not historical facts. When used in this press release, the words “expect,” “predict,” “project,” “anticipate,” “believe,” “estimate,” “intend,” “plan,” “seek” and similar expressions are generally intended to identify forward-looking statements. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including changes in our plans, objectives, expectations, prospects and intentions, and other factors discussed in our filings with the SEC. We cannot guarantee any future levels of activity, performance or achievements. Travelzoo undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release. Travelzoo and Top 20 are registered trademarks of Travelzoo Inc. All other company and product names mentioned are trademarks of their respective owners.
👍️0
Drmicrocap Drmicrocap 11 years ago

Travelzoo Q1 2013 Earnings Conference Call Thursday, April 18 at 11:00 AM ET
Press Release: Travelzoo – Thu, Apr 11, 2013 9:30 PM EDT

NEW YORK--(BUSINESS WIRE)--

Travelzoo Inc. (TZOO):

Travelzoo Inc. will host a conference call to discuss the Company’s financial results for the first quarter ended March 31, 2013. Travelzoo Inc. will issue a press release reporting its results before the market opens on April 18, 2013.


A live webcast of Travelzoo’s Q1 2013 earnings conference call can be accessed at http://ir.travelzoo.com/earnings.cfm. The webcast will be archived within 24 hours of the end of the call and will be available through the same link

About Travelzoo

Travelzoo Inc. is a global Internet media company. With more than 26 million subscribers in North America, Europe, and Asia Pacific and 25 offices worldwide, Travelzoo® publishes deals from more than 2,000 travel, entertainment and local companies. Travelzoo Deal Experts review offers to find the best deals and confirm their true value. In Asia Pacific, Travelzoo is independently owned and operated by Travelzoo (Asia) Ltd. and Travelzoo Japan K.K. under a license agreement with Travelzoo Inc.

Certain statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include, but are not limited to, statements about our plans, objectives, expectations, prospects and intentions, markets in which we participate and other statements contained in this press release that are not historical facts. When used in this press release, the words “expect”, “predict”, “project”, “anticipate”, “believe”, “estimate”, “intend”, “plan”, “seek” and similar expressions are generally intended to identify forward-looking statements. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including changes in our plans, objectives, expectations, prospects and intentions and other factors discussed in our filings with the SEC. We cannot guarantee any future levels of activity, performance or achievements. Travelzoo undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release. Travelzoo and Top 20 are registered trademarks of Travelzoo. All other names are trademarks and/or registered trademarks of their respective owners.


Contact:.

Media:
Travelzoo, North America
Christie McConnell, 212-484-4912
cmcconnell@travelzoo.com
👍️0
TheFinalCD TheFinalCD 12 years ago
$16.56 52wl from hieghts of $107= what a dam shame!
👍️0
Drmicrocap Drmicrocap 12 years ago
http://finance.yahoo.com/news/travelzoo-reports-third-quarter-2012-120000531.html
👍️0
TheFinalCD TheFinalCD 12 years ago
clear $30?? Hows N52WL $18.71 Today!!
👍️0
Drmicrocap Drmicrocap 12 years ago
http://finance.yahoo.com/news/travelzoo-announces-preliminary-financial-results-130000824.html
👍️0
TheFinalCD TheFinalCD 12 years ago
ya wonder?
👍️0
financialwin financialwin 12 years ago
Hopefully TZOO will wake up soon. continually reporting better profits, growth, increase in subscribers, the pps has to start going up soon. All the positive forces are with it.
👍️0
TheFinalCD TheFinalCD 12 years ago
TZOO stalling as of late
👍️0
TheFinalCD TheFinalCD 12 years ago
great company stuck in the low 20's

amazing how it ran to $107

whats the short (%) now?
👍️0
TheFinalCD TheFinalCD 12 years ago
Second Quarter 2012 Financial Highlights:

• Revenue of $39.4 million, up 5% year-over-year
• Operating Income of $10.4 million, up 36% year-over-year
• Net income of $7.3 million, up 48% year-over-year
• Earnings per share of $0.45, compared to $0.30 in the prior-year period
• Cash flow from operations of $7.1 million

Travelzoo Inc., a global Internet media company, today announced financial results for the second quarter ended June 30, 2012, with revenue of $39.4 million, an increase of 5% year-over-year. Operating income was $10.4 million, up 36% year-over-year. Net income was $7.3 million, with earnings per share of $0.45, up from $0.30 in the prior-year period.

“Our strategy of publishing high-quality deals, combined with efficient execution, has led to record operating profits in Europe and North America and an overall operating margin of 26%, the highest since 2007,” said Chris Loughlin, chief executive officer of Travelzoo. “We now intend to reaccelerate growth by investing more significantly into growing our audience, expanding our mobile offerings, and continuing our sales force ramp.”

North America

North America business segment revenue grew 4% year-over-year to $28.7 million. Operating income for the second quarter was $7.8 million, or 27% of revenue, up from $6.5 million, or 24% of revenue, in the prior-year period.

Europe

Europe business segment revenue grew 7% year-over-year to $10.6 million. In local currency terms, revenue for the second quarter grew 10% year-over-year. Operating income for the second quarter was $2.5 million, compared to an operating profit of $1.1 million in the prior-year period.

Subscribers

Travelzoo had a total unduplicated number of subscribers in North America and Europe of 22.1 million as of June 30, 2012, up 6% from June 30, 2011. In North America, total unduplicated number of subscribers was 15.9 million as of June 30, 2012, up 4% from June 30, 2011. In Europe, total unduplicated number of subscribers was 6.1 million as of June 30, 2012, up 12% from June 30, 2011.

Income Taxes

Income tax expense was $3.1 million, compared to $2.8 million in the prior-year period. The effective income tax rate was 30%, down from 36% in the prior-year period.

Asset Management

During the second quarter 2012, Travelzoo generated $7.1 million of cash from operating activities. Accounts receivable decreased by $700,000 over the prior-year period to $15.2 million. Accounts payable increased by $6.5 million over the prior-year period to $22.1 million. Capital expenditures were $595,000, up from $356,000 in the prior-year period. Travelzoo exited the second quarter with $54.2 million in cash and cash equivalents.

Conference Call

Travelzoo will host a conference call to discuss first quarter results at 11:00 a.m. ET today. Please visit http://www.travelzoo.com/earnings to
• download the management presentation (PDF format) to be discussed in the conference call;
• access the webcast.

About Travelzoo

Travelzoo Inc. is a global Internet media company. With more than 25 million subscribers in North America, Europe, and Asia Pacific and 25 offices worldwide, Travelzoo® publishes deals from more than 2,000 travel and entertainment companies. Travelzoo’s deal experts review offers to find the best deals and confirm their true value. In Asia Pacific, Travelzoo is independently owned and operated by Travelzoo (Asia) Ltd. and Travelzoo Japan K.K. under a license agreement with Travelzoo Inc.

Certain statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include, but are not limited to, statements about our plans, objectives, expectations, prospects and intentions, markets in which we participate and other statements contained in this press release that are not historical facts. When used in this press release, the words “expect,” “predict,” “project,” “anticipate,” “believe,” “estimate,” “intend,” “plan,” “seek” and similar expressions are generally intended to identify forward-looking statements. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including changes in our plans, objectives, expectations, prospects and intentions, and other factors discussed in our filings with the SEC. We cannot guarantee any future levels of activity, performance or achievements. Travelzoo undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release. Travelzoo and Top 20 are registered trademarks of Travelzoo Inc. All other company and product names mentioned are trademarks of their respective owners.






































Travelzoo Inc.
Condensed Consolidated Statements of Operations
(Unaudited)

(In thousands, except per share amounts)


















































Three months ended





Six months ended















June 30,





June 30,















2012





2011





2012





2011





































Revenues











$ 39,360





$ 37,565





$ 78,693





$ 74,525



Cost of revenues











3,630





2,940





7,683





5,382



Gross profit











35,730





34,625





71,010





69,143





































Operating expenses:

































Sales and marketing











16,061





18,702





32,326






34,833



General and administrative











9,303





8,295





18,747





16,689



Unexchanged merger shares











-





-





3,000





20,000



Total operating expenses











25,364





26,997





54,073






71,522





































Operating income (loss)











10,366





7,628





16,937






(2,379)





































Other income (expense)











(16)





42





83





104



Income (loss) before income taxes











10,350





7,670





17,020






(2,275)





































Income taxes











3,090





2,752





6,012





6,762





































Net income (loss)











$ 7,260





$ 4,918





$ 11,008






$ (9,037)





































Net income (loss) per share:

































Basic











$ 0.45





$ 0.30





$ 0.69





$ (0.55)



Diluted











$ 0.45





$ 0.30





$ 0.69





$ (0.55)





































Weighted Average Shares:

































Basic











15,962





16,462





15,962





16,456



Diluted











16,006





16,585





16,012





16,456



























Travelzoo Inc.

Condensed Consolidated Balance Sheets

(Unaudited)

(In thousands)






































June 30,
2012






December 31,
2011

















































Assets





















Current assets:





















Cash and cash equivalents











$











54,161





$

38,744



Accounts receivable, net























15,236







13,340



Income taxes receivable























2,493







3,625



Deposits























376







278



Prepaid expenses and other current assets























2,601







2,123



Deferred tax assets























1,755







1,754



Total current assets























76,622







59,864



Deposits, less current portion























1,038







776



Deferred tax assets, less current portion























344







344



Restricted cash























3,045







3,103



Property and equipment, net























3,711







3,557



Intangible assets, net























528







704



Total assets











$











85,288





$

68,348

























Liabilities and Stockholders' Equity





















Current liabilities:





















Accounts payable











$











22,129





$

21,731



Accrued expenses























11,606







6,311



Deferred revenue























2,108







2,168



Deferred rent























217







114



Income tax payable























-







279



Total current liabilities























36,060







30,603



Long-term tax liabilities























2,001







2,225



Deferred rent, less current portion























929







761



Total liabilities























38,990







33,589



Common stock























164







164



Treasury stock























-







(15,123)



Additional paid-in capital























8,249







7,656



Accumulated other comprehensive loss























(1,484)







(1,422)



Retained earnings























39,369







43,484



Total stockholders' equity























46,298







34,759



Total liabilities and stockholders' equity











$











85,288





$

68,348







































Travelzoo Inc.

Condensed Consolidated Statements of Cash Flows

(Unaudited)

(In thousands)

















































Three months ended





Six months ended
















June 30,






June 30,















2012





2011





2012





2011



Cash flows from operating activities:

































Net income (loss)











$ 7,260





$ 4,918





$ 11,008





$ (9,037)




Adjustments to reconcile net income to net cash
provided by operating activities:

































Depreciation and amortization











599





666





1,225





1,309



Deferred income taxes











-





74





-





160



Stock-based compensation











307





187





593





375



Provision for losses on accounts receivable











91





24





199





43



Tax benefit from exercise of stock options











-





-





-





(268)



Net foreign currency effects











75





1





40





(29)



Changes in operating assets and liabilities:

































Accounts receivable











(851)





462





(2,122)





(2,456)



Deposits











(232)





(99)





(364)





(660)



Income tax receivable











285





(2,654)





1,130





(2,390)



Prepaid expenses and other current assets











215





(309)





(79)





(117)



Accounts payable











48





2,164





508





5,600



Accrued expenses











(317)





(16,248)





5,302





7,185



Deferred revenue











(194)





78





(60)





98



Deferred rent











41





82





(34)





95



Income tax payable











1





(607)





(283)





(519)



Other non-current liabilities











(276)





14





(224)





29



Net cash provided by (used in) operating activities











7,052





(11,247)





16,839





(582)





































Cash flows from investing activities:

































Purchases of property and equipment











(595)





(356)





(1,272)





(1,056)



Net cash used in investing activities











(595)





(356)





(1,272)





(1,056)





































Cash flows from financing activities:

































Proceeds from exercise of stock options











-





-





-





40



Tax benefit of stock option exercises











-





-





-





268



Net cash provided by financing activities











-





-





-





308





































Effect of exchange rate on cash and cash equivalents











(855)





(9)





(150)





232





































Net increase (decrease) in cash and cash equivalents











5,602





(11,612)





15,417





(1,098)



Cash and cash equivalents at beginning of period











48,559





51,698





38,744





41,184



Cash and cash equivalents at end of period











$ 54,161





$ 40,086





$ 54,161





$ 40,086





































Supplemental disclosure of cash flow information:

































Cash paid for income taxes, net











3,082





5,918





5,391





9,476







































Travelzoo Inc.

Segment Information

(Unaudited)

(In thousands)





































Three months ended June 30, 2012












North
America





Europe





Elimination





Consolidated





































Revenue from unaffiliated customers











$











28,712





$











10,648





$

-





$

39,360



Intersegment revenue























205

















21







(226)







-



Total net revenues























28,917

















10,669







(226)







39,360



Operating income











$











7,831





$











2,535





$

-





$

10,366







































































Three months ended June 30, 2011












North
America





Europe





Elimination





Consolidated





































Revenue from unaffiliated customers











$











27,588





$











9,977





$

-





$

37,565



Intersegment revenue























112

















57







(169)







-



Total net revenues























27,700

















10,034







(169)







37,565



Operating income











$











6,543





$











1,086





$

-





$

7,629







































































Six months ended June 30, 2012












North
America





Europe






Elimination
and Other (a)





Consolidated





































Revenue from unaffiliated customers











$











57,268





$











21,425





$

-





$

78,693



Intersegment revenue























470

















31







(501)







-



Total net revenues























57,738

















21,456







(501)







78,693



Operating income











$











14,972





$











4,965





$

(3,000)





$

16,937







































































Six months ended June 30, 2011












North
America





Europe






Elimination
and Other (a)





Consolidated





































Revenue from unaffiliated customers











$











55,105





$











19,420





$

-





$

74,525



Intersegment revenue























213

















61







(274)







-



Total net revenues























55,318

















19,481







(274)







74,525



Operating income (loss)












$












15,794





$











1,827





$

(20,000)






$


(2,379)








































































(a) Includes a charge related to unexchanged shares for the six months ended June 30, 2012 and June 30, 2011.













.
.
Contact:.
.
Travelzoo
Media:
Christie McConnell, +1 212-484-4912
cmcconnell@travelzoo.com
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Drmicrocap Drmicrocap 12 years ago
http://finance.yahoo.com/news/travelzoo-announces-share-repurchase-program-143000223.html
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Drmicrocap Drmicrocap 12 years ago
http://finance.yahoo.com/news/travelzoo-announces-share-repurchase-program-143000223.html
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