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Travelzoo Reports Third Quarter 2014 Results

10/16/2014| 11:28:17 AM| 中文

NEW YORK, October 16, 2014 - Travelzoo Inc (NASDAQ: TZOO)., a global Internet media company, today announced financial results for the third quarter ended September 30, 2014, with revenue of $33.5 million, a decrease of 10% year-over-year. Net income was $2.5 million, with earnings per share of $0.17. Non-GAAP net income was $286,000, with non-GAAP earnings per share of $0.02.

•  Revenue of $33.5 million, down 10% year-over-year

•  Operating profit of $2.7 million

•  Earnings per share of $0.17, compared to loss per share of $1.24 in the prior-year period

•  Non-GAAP earnings per share of $0.02, compared to $0.19 in the prior-year period

•  Cash flow from operations of $508,000

"We continued to invest into our products, and decided to increase our marketing spend by $2.4 million over the previous quarter, which affected earnings per share by $0.12," said Chris Loughlin, chief executive officer. "We remain focused on leveraging our global scale and trusted brand to improve earnings in future periods."

North America

North America business segment revenue decreased 14% year-over-year to $22.6 million. Operating profit for the third quarter was $238,000, or 1% of revenue, down from $2.5 million, or 10% of revenue, in the prior-year period.

Europe

Europe business segment revenue decreased 1% year-over-year to $10.9 million. In local currency terms, revenue decreased 9% year-over-year. Operating profit for the third quarter was $196,000, or 2% of revenue, down from $1.5 million, or 13% of revenue in the prior-year period.

Subscribers

Travelzoo had a total unduplicated number of subscribers in North America and Europe of 24.2 million as of September 30, 2014, up 4% from September 30, 2013. In North America, total unduplicated number of subscribers was 17.0 million as of September 30, 2014, up 3% from September 30, 2013. In Europe, total unduplicated number of subscribers was 7.3 million as of September 30, 2014, up 9% from September 30, 2013.

Asset Management

During the third quarter of 2014, Travelzoo generated $508,000 of cash from operating activities. Capital expenditures were $1.5 million, consistent with the prior-year period. As of September 30, 2014, cash and cash equivalents were $57.2 million.

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