Home > Online > Travelzoo reports third quarter 2015 results

Travelzoo reports third quarter 2015 results

11/04/2015| 9:10:22 AM| 中文

Travelzoo Inc., a global media commerce company, today announced financial results for the third quarter ended September 30, 2015, with revenue of $33.7 million.

NEW YORK, November 3, 2015 — Travelzoo Inc. (NASDAQ: TZOO):

• Revenue of $33.7 million, down 2% in constant currencies

• Revenue up 8% in Europe and up 7% in Asia Pacific in constant currencies

• Non-GAAP earnings per share of $0.03, compared to loss per share of $0.03 in the prioryear period

• Operating profit of $860,000

Travelzoo Inc., a global media commerce company, today announced financial results for the third quarter ended September 30, 2015, with revenue of $33.7 million. In nominal terms, revenue decreased by 7% year-over-year. In constant currencies, revenue decreased by 2% year-over-year. GAAP net income was $8.9 million, with earnings per share of $0.60. Non-GAAP net income was $444,000, with non-GAAP earnings per share of $0.03. Non-GAAP net income and earnings per share excluded an $8.4 million release of a tax reserve related to the unexchanged promotional shares.

"In the third quarter of 2015, the number of Travelzoo members increased substantially to over 28 million worldwide, mainly driven by our investment in Asia Pacific,” said Chris Loughlin, chief executive officer. “In constant currencies we saw revenue growth in almost all countries that we operate in.”

North America

North America business segment revenue decreased 10% year-over-year to $20.7 million. Operating income for the third quarter was $687,000, or 3% of revenue, up from $265,000, or 1% of revenue, in the prior-year period.

Europe

Europe business segment revenue decreased 3% year-over-year to $10.3 million. In constant currencies, revenue increased 8% year-over-year. Operating income for the third quarter was $587,000, or 6% of revenue, up from $195,000, or 2% of revenue in the prior-year period.

Asia Pacific

On August 20, 2015, Travelzoo Inc. acquired the Travelzoo Asia Pacific business (“Asia Pacific”), which includes the Travelzoo businesses in Australia, China, Hong Kong, Japan, Taiwan, and Southeast Asia. This business was independently operated by Azzurro Capital Inc. under a licensing agreement with Travelzoo Inc.

Asia Pacific business segment revenue decreased 3% year-over-year to $2.7 million. In constant currencies, revenue increased 7% year-over-year. Operating loss for the third quarter was $414,000, or 15% of revenue, down from $864,000, or 31% of revenue in the prior-year period.

Members

As of September 30, 2015, Travelzoo had a worldwide unduplicated number of members of 28.3 million, which includes 3.4 million members in Asia Pacific. In North America, unduplicated number of members was 17.2 million as of September 30, 2015, up 2% from September 30, 2014. In Europe, unduplicated number of members was 7.8 million as of September 30, 2015, up 7% from September 30, 2014. In Asia Pacific, unduplicated number of members was 3.4 million as of September 30, 2015, down 4% from September 30, 2014.

Income Taxes

Income tax benefit was $8.2 million, compared to $158,000 income tax expense in the prior-year period. Non-GAAP income tax expense of $214,000 excludes an $8.4 million release of a tax reserve related to the unexchanged promotional shares.

Asset Management

During the third quarter of 2015, Travelzoo used $813,000 of cash in operating activities. Accounts receivable increased by $582,000 over the prior-year period to $17.8 million. Accounts payable decreased by $2.4 million over the prior-year period to $23.0 million. Capital expenditures were $132,000, down from $1.6 million in the prior-year period. As of September 30, 2015, cash and cash equivalents were $34.6 million.

TAGS: Travelzoo | financial results
©2016 广州力矩资讯科技有限公司 粤ICP备06070077号-2
Tell us more about yourself!