Travelzoo 2010 Annual Report Download - page 65

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TRAVELZOO INC.
CONSOLIDATED BALANCE SHEETS
2010 2009
December 31,
(In thousands, except
per share amounts)
ASSETS
Current assets:
Cash and cash equivalents ............................................. $41,184 $19,776
Accounts receivable, less allowance for doubtful accounts of $386 and $501 at 2010
and 2009, respectively .............................................. 13,290 11,279
Income tax receivable ................................................ 264 6,061
Deposits .......................................................... 129 139
Prepaid expenses and other current assets .................................. 1,489 1,103
Deferred tax assets................................................... 1,411 966
Total current assets................................................. 57,767 39,324
Deposits, less current portion ............................................. 279 381
Deferred tax assets, less current portion ..................................... 349 52
Restricted cash ....................................................... 3,124 875
Property and equipment, net ............................................. 3,425 4,089
Intangible assets, net ................................................... 1,058 1,411
Total assets ...................................................... $66,002 $46,132
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable.................................................... $ 9,931 $ 6,834
Accrued expenses ................................................... 6,080 4,278
Deferred revenue .................................................... 1,325 828
Deferred rent ....................................................... 218 134
Income tax payable .................................................. 650 —
Total current liabilities .............................................. 18,204 12,074
Deferred tax liabilities .................................................. — 533
Long-term tax liabilities ................................................ 1,449 2,139
Deferred rent, less current portion ......................................... 460 615
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; 16,444 shares
issued and outstanding at 2010 and 2009) ................................ 164 164
Additional paid-in capital .............................................. 6,598 4,772
Retained earnings ................................................... 40,165 27,008
Accumulated other comprehensive loss .................................... (1,038) (1,173)
Total stockholders’ equity............................................ 45,889 30,771
Total liabilities and stockholders’ equity ................................. $66,002 $46,132
See accompanying notes to consolidated financial statements
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