Travelzoo 2007 Annual Report Download - page 67

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TRAVELZOO INC.
CONSOLIDATED BALANCE SHEETS
2007 2006
December 31,
(In thousands, except
per share amounts)
ASSETS
Current assets:
Cash and cash equivalents ............................................. $22,641 $33,415
Accounts receivable, less allowance for doubtful accounts of $290 and $726 at 2007
and 2006, respectively .............................................. 9,969 7,274
Deposits .......................................................... 272 177
Prepaid expenses and other current assets .................................. 1,982 506
Deferred tax assets................................................... 1,393 1,980
Total current assets................................................. 36,257 43,352
Deposits, less current portion ............................................. 349 142
Property and equipment, net ............................................. 622 172
Intangible assets, net ................................................... 58 34
Total assets ...................................................... $37,286 $43,700
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable.................................................... $ 4,960 $ 2,839
Accrued expenses ................................................... 4,608 2,149
Deferred revenue .................................................... 450 750
Deferred rent ....................................................... 37 —
Income tax payable .................................................. — 1,142
Total current liabilities .............................................. 10,055 6,880
Long-term tax liabilities ................................................ 1,256 —
Other non-current liabilities .............................................. 73 3
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value per share (5,000 shares authorized; none issued)..... — —
Common stock, $0.01 par value per share (40,000 shares authorized; 14,250 and
15,250 shares issued and outstanding at 2007 and 2006, respectively) ........... 143 153
Additional paid-in capital .............................................. — 2,076
Retained earnings ................................................... 25,939 34,566
Accumulated other comprehensive income (loss) . . . ......................... (180) 22
Total stockholders’ equity ............................................ 25,902 36,817
Total liabilities and stockholders’ equity ................................. $37,286 $43,700
See accompanying notes to consolidated financial statements
35