NEW YORK, July 28, 2016 — Travelzoo Inc. (NASDAQ: TZOO): Travelzoo, a global media commerce company, today announced financial results for the second quarter ended June 30, 2016, with revenue of $34.0 million, decreased by 7% year-over-year. Net income was $2.0 million.
“Our strategy of publishing high-quality deals, combined with efficient execution, has led to increased operating profits in Europe and North America” said Holger Bartel, Chairman and Global CEO. “We intend to leverage Travelzoo’s global reach and trusted brand to grow revenue and increase profitability in future periods.”
North America
North America business segment revenue decreased 8% year-over-year to $21.9 million. Operating income for the second quarter was $3.2 million, or 15% of revenue, up from $2.5 million or 11% of revenue in the prior-year period.
Europe
Europe business segment revenue decreased 5% year-over-year to $9.7 million. In constant currencies, revenue decreased 2% year-over-year. Operating income for the second quarter was $1.8 million, or 18% of revenue, up from $47,000, or 0.5% of revenue in the prior-year period.
Members
In Europe, unduplicated number of members was 8.1 million as of June 30, 2016, up 8% from June 30, 2015. In North America, unduplicated number of members was 17.4 million as of June 30, 2016, up 1% from June 30, 2015.
Asset Management
During the second quarter of 2016, Travelzoo generated $2.6 million of cash from operating activities. Capital expenditures were $503,000. As of June 30, 2016, cash and cash equivalents were $27.6 million.
