NORWALK, Conn., May 5, 2011 /PRNewswire via COMTEX/ --
Priceline.com Incorporated (Nasdaq: PCLN) today reported 1st quarter 2011 financial results for the Priceline Group of Companies. First quarter gross travel bookings for the group, which refers to the total dollar value, generally inclusive of all taxes and fees, of all travel services purchased by consumers, were $4.7 billion, an increase of 57.3% over a year ago.
The Group had revenues in the 1st quarter of $809.3 million, a 38.5% increase over a year ago. The Group's international operations contributed revenues in the 1st quarter of $389.1 million, an 80% increase versus a year ago (approximately 79% on a local currency basis). The Group's gross profit for the 1st quarter was $505.8 million, a 58.5% increase from the prior year. International operations contributed gross profit in the 1st quarter of $388.2 million, an 81% increase versus a year ago (approximately 79% growth on a local currency basis). The Group's operating income in the 1st quarter was $154.1 million, a 75.2% increase from the prior year. The Group had GAAP net income applicable to common shareholders for the 1st quarter of $104.8 million, or $2.05 per diluted share, which compares to $53.9 million or $1.06 per diluted share, in the same period a year ago.
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