Travelzoo announces quarterly financial results, operating profits up to $4.5 million trillion

Eastern Time January 23: Global Internet media company Travelzoo unveiled its fourth-quarter financial results for December 31, 2013. Revenues reached $37.5 million trillion, up 1% from a year earlier, operating at $4.5 million trillion, up 3% per cent, and net profit of $3.2 million trillion, with a profit of $0.21 a share, down from $0.24 a share over the same period last month.

Summary of the quarterly results:

• Income of 37.5 million U.S. dollars, an increase of 1%;

• Operating profit of 4.5 million U.S. dollars, an increase of 3%;

• Net profit of USD 3.2 million;

• Earnings per share of 0.21 U.S. dollars, the same period last year, 0.24 U.S. dollars;

• Cash flow from operational activities is 1.8 million USD

Travelzoo also announced that its Board of Trustees had authorized the repurchase of nearly 500,000 shares in circulation, and that the company might use its available funds to buy it in the open market on an irregular basis. The number and time of stocks to be purchased will be determined by Travelzoo cash balances, business conditions, market prices, and other factors, such as alternative investment opportunities.

"Our tourism products continued to strengthen in the fourth quarter, especially in the European market, contributing 40% of the company's profits, making up for Supersearch and fly.com revenue declines," he said. "We will continue to invest in user groups and products to spur future development," said chief executive Chris Loughlin. This includes the hotel reservation platform that we are currently in beta, helping users find good products anytime and anywhere, especially when they are using mobile devices. ”

2013 annual income reached 158.2 million U.S. dollars, up 5%; generally accepted accounting Standards (GAAP) operating revenue reached 2.3 million U.S. dollars, down 91%; non-accepted accounting standards (NON-GAAP) operating income of 24.3 million U.S. dollars, down 15% per cent The net profit of non-GAAP declined by 5 million dollars, and earnings per share fell by 0.33 dollars in the fourth quarter compared with the 1.14 US dollars a year earlier. As of December 31, 2013, the calculation of earnings per share for non-GAAP operating income, non-GAAP net income and non-GAAP accounting standards for 2012 and 2013 does not include a sum of USD 22 million and a sum of 3 million dollars, The two charges involved Travelzoo's dispute over an unowned property audit.

North American business

North America's revenues fell 3% from a year earlier to $25.6 million trillion. Operating profit of 2.7 million U.S. dollars in the quarter, gross margin of 10%, compared to the same period last year operating profits (3.4 million U.S. dollars) and gross margin (13%) declined.

European business

Revenues in Europe have reached $11.9 million trillion, an increase of 12% per cent year-on-year. In local currency terms, incomes rose 11% per cent year-on-year. Operating profit of 1.8 million U.S. dollars, gross margin of 15%, compared to the same period last year operating profits (1 million U.S. dollars) and gross margin (9%) increased.

Search Products

In response to the continued decline in revenue and profits for its search products, including Supersearch and Fly.com, the company has conducted a performance evaluation of its products, which will likely merge the two products or give up or replace the two products or one of them. "The challenges from traffic acquisition and the inability of products to cash in on mobile devices have led to a continued decline in revenue from search products," said Chief financial officer Glen ceremony. "We also pay more attention to the profitability of products while evaluating and improving these products, compared to the same period last year, Supersearch's income fell by about 1.5 million dollars. ”

Number of Subscribers

As of December 31, 2013, Travelzoo in North America and Europe had a 23.3 million per cent increase in the number of subscribers to e-mail subscriptions, up 4%. Among them, the number of users in North America reached 16.6 million, an increase of 3% per cent, the number of users in Europe reached 6.8 million, an increase of 6% per cent.

Income tax

Income-tax expenditures were $1.3 million trillion, compared with 692,000 dollars in the same period last year. The real income tax rate was 29%, up from 16% in the same period last year.

Asset Management

In the fourth quarter of 2013, Travelzoo's cash flow from operating activities was 1.8 million dollars. Accounts receivable increased by $360,000 over 14 million dollars in the same period last year, with an increase of $3.1 million trillion over the same period last year, to $31.8 million. Capital spending rose to $1.9 million from $690,000 trillion over the same period last year. As of December 31, 2013, the company's cash balance is 66.2 million dollars.