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YTB International Announces Financial Results for Quarter Ended June 30, 2010

WOOD RIVER, Ill., Aug. 12 /PRNewswire-FirstCall/ -- YTB International, Inc. (OTC Bulletin Board: YTBLA) ("YTB" or the "Company"), a provider of e-commerce business solutions for individual consumers and home-based independent representatives in the United States, Puerto Rico, Bermuda, the Bahamas, the U.S. Virgin Islands, and Canada, today announced its financial results for the quarter ended June 30, 2010.

Total revenue for the second quarter of 2010 was $8.8 million, compared to $18.0 million for the second quarter of 2009.  Net loss for the quarter ended June 30, 2010 was ($0.5) million, or ($0.00) per diluted share, compared to a net loss of ($1.6) million, or ($0.02) per diluted share, for the same period of 2009.

The company reduced its net loss for the six months ended June 30, 2010 by $2.6 million to ($0.9) million, or ($0.01) per diluted share, compared to a net loss of ($3.5) million, or ($0.03) per diluted share, for the same period of 2009.  For the six months ended June 30, 2010, the Company had net cash flow from operating activities of $0.5 million, compared to net cash used in operating activities of ($1.0) million for the same period of 2009.  As of June 30, 2010, the Company had cash and cash equivalents of $1.8 million.  In addition, commissions paid per Travel Store Owner and Business Owner during the six months ended June 30, 2010 were up approximately 55% compared to the same period of 2009.

Robert M. Van Patten, YTB Chief Executive Officer commented, "We are hopeful that the worst of the economic turbulence is behind us and I remain cautiously optimistic that as consumer confidence returns, the Company will be able to turn the corner in the near future and have an improved second half in 2010.  The new marketing initiatives and expanded product offerings we have introduced are truly a value, and I believe our Independent Marketing Representatives and Business Owners have been quite impressed with the diversified line of products available under our growing platform.  The Company is continuously striving to strengthen the balance sheet while building our core assets and increasing our capital reserves."

J. Scott Tomer, Chairman of YTB added, "As promised, we have solidified the ZamZuu Distribution Systems with numerous new, value-driven, high commissionable products and plan to unveil several additional blockbuster products at the upcoming National Convention.  We are extremely pleased with the enhancements we have made to our product line as well as the additional earnings opportunities for the Independent Marketing Representatives and Business Owners.  I am as confident as ever in the direction the Company is heading and look forward to a successful Convention."

About YTB International
YTB International, Inc. was recognized as the 29th largest seller of travel in the U.S. in Travel Weekly's 2010 Power List, based on 2009 annual retail value of travel services booked.

YTB provides e-commerce business solutions for individual consumers and home-based independent representatives in the United States, Puerto Rico, the Bahamas, Canada, Bermuda, and the U.S. Virgin Islands. The Company operates through two subsidiaries: ZamZuu, Inc. (formerly YTB Marketing, Inc. and YourTravelBiz.com, Inc.) and YTB Travel Network, Inc.

For more information about YTB, visit http://www.ytb.com or http://www.thefactsaboutytb.com.

Certain matters set forth in this news release may contain forward-looking statements that are provided to assist in the understanding of anticipated future financial performance. However, such performance involves risks and uncertainties that may cause actual results to differ materially from those in such statements. For a discussion of certain factors that may cause such forward-looking statements to differ materially from the Company's actual results, see the Company's reports filed from time to time with the Securities and Exchange Commission including the Company's Annual Report on Form 10-K for the year ended December 31, 2009. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.


For: YTB International, Inc.
 
    Media Contact:
    618-655-9477
    PR@ytb.com

SOURCE YTB International, Inc.
 
 
 
 
 
 

The following information was filed by Ytb International, Inc. (YTBLA) on Thursday, August 12, 2010 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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