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Travelzoo Reports Fourth Quarter 2014 Results

01/23/2015| 11:27:57 AM| 中文

Travelzoo Inc., a global Internet media company, today announced financial results for the fourth quarter ended December 31, 2014, with revenue of $31.5 million, a decrease of 16% year-over-year.

• Revenue of $31.5 million, down 16% year-over-year

• Operating profit of $1.2 million, down 72% year-over-year

• Earnings per share of $0.09, compared to $0.21 in the prior-year period

• Non-GAAP loss per share of $0.04, compared to non-GAAP earnings per share of $0.21 in the prior-year period

• Cash flow used by operations of $100,000

Travelzoo Inc., a global Internet media company, today announced financial results for the fourth quarter ended December 31, 2014, with revenue of $31.5 million, a decrease of 16% year-over-year. Net income was $1.2 million, with earnings per share of $0.09. Non-GAAP net loss was $579,000, with non-GAAP loss per share of $0.04. Non-GAAP net loss and non-GAAP loss per share exclude a $1.8 million release of reserve for Travelzoo Inc.'s anticipated settlement agreements in connection with a dispute over unclaimed property audits.

"Investment in products and audience resulted in an operating loss for the quarter," said Chris Loughlin, chief executive officer. "Our objective remains to leverage Travelzoo's global scale and trusted brand for improved earnings in future periods."

North America

North America business segment revenue decreased 18% year-over-year to $21.1 million. Operating loss for the fourth quarter was $936,000, or (4)% of revenue, down from $2.7 million, or 10% of revenue, in the prior-year period.

Europe

Europe business segment revenue decreased 12% year-over-year to $10.4 million. In local currency terms, revenue decreased 10% year-over-year. Operating profit for the fourth quarter was $337,000, or 3% of revenue, down from $1.8 million, or 15% of revenue in the prior-year period.

Members

Travelzoo had a total unduplicated number of members in North America and Europe of 24.2 million as of December 31, 2014, up 4% from December 31, 2013. In North America, total unduplicated number of members was 16.9 million as of December 31, 2014, up 2% from December 31, 2013. In Europe, total unduplicated number of members was 7.3 million as of December 31, 2014, up 9% from December 31, 2013.

Income Taxes

Income tax benefit was $66,000, compared to $1.3 million income tax expense in the prior-year period, driven by lower operating income.

Asset Management

During the fourth quarter of 2014, Travelzoo used $100,000 of cash from operating activities. Accounts receivable increased by $622,000 over the prior-year period to $14.6 million. Accounts payable decreased by $8.8 million over the prior-year period to $23.0 million. Capital expenditures were $346,000, down from $1.9 million in the prior-year period. As of December 31, 2014, cash and cash equivalents were $54.8 million.

TAGS: Travelzoo | financial results
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