21 July 2014
Travelzoo Inc. (NASDAQ: TZOO) said it has announced financial results for the second quarter ended June 30, 2014, with revenue of USD36.9m, a decrease of 11 percent year-over-year.
Net income was USD7.9m, with earnings per share of USD0.54. Non-GAAP net income was USD4.4m, with non-GAAP earnings per share of USD0.30. Non-GAAP net income and non-GAAP earnings per share exclude a USD3.5m release of reserve for Travelzoo Inc.´s anticipated settlement agreements in connection with a dispute over unclaimed property audits.
North America business segment revenue decreased 17 percent year-over-year to USD25.2m. Non-GAAP operating profit for the second quarter was USD3.8m, or 15 percent of revenue, down from USD5.9m, or 20 percent of revenue, in the prior-year period.
Europe business segment revenue increased six percent year-over-year to USD11.7m. In local currency terms, revenue decreased four percent year-over-year. Non-GAAP operating profit for the second quarter was USD2.9m, or 24 percent of revenue, up from USD1.9m, or 17 percent of revenue in the prior-year period.
Travelzoo Inc. is a global Internet media company. Travelzoo´s deal experts review offers to find the best deals and confirm their true value. In Asia Pacific, Travelzoo is independently owned and operated by Travelzoo (Asia) Ltd. and Travelzoo Japan K.K. under a license agreement with Travelzoo Inc.