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FOR IMMEDIATE RELEASE
Travelzoo Reports Fourth Quarter 2010 Results
NEW YORK, February 3, 2011 -- Travelzoo Inc. (NASDAQ: TZOO):
· Revenue of $28.5 million, up 20% year-over-year
· Operating profit from continuing operations of $6.7 million, up 90% year-over-year
· Cash flow from operations of $8.8 million
· Net income per share from continuing operations of $0.23, up 156% from $0.09 in the prior-year period
· Earnings per share of $0.23, compared to earnings per share of $0.32 in the prior-year period. Prior-year period included a one-time income tax benefit of $4.4 million related to the dissolution of the Asia Pacific business segment
Travelzoo Inc., a global Internet media company, today announced financial results for the fourth quarter ended December 31, 2010, with revenue of $28.5 million, an increase of 20% year-over-year. Operating profit from continuing operations was $6.7 million, up 90% year-over-year. Net income from continuing operations was $3.8 million, with diluted net income per share from continuing operations of $0.23, compared to diluted net income per share from continuing operations of $0.09 in the prior-year period. Revenue, operating profit and income from continuing operations for all periods exclude the results of Travelzoos former Asia Pacific business segment, which are reported as discontinued operations.
We rounded off 2010 with strong revenue growth and the highest quarterly EPS since Q1 2007, said Chris Loughlin, CEO of Travelzoo. Operating income increased 90% year-over-year in spite of start up costs related to Local Deals. We now publish Local Deals in 30 cities across the U.S., U.K., and Spain.
The following information was filed by Travelzoo (TZOO) on Friday, February 4, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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