Travelzoo 2005 Annual Report Download - page 15

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Performance Graph
The following graph compares, for the four year period ending December 31, 2005, the cumulative total
stockholder return for Travelzoo, the NASDAQ Stock Market (U.S. companies) Index (the ""NASDAQ
Market Index''), and the Standard & Poor's 500 Publishing Index (the ""S&P 500 Publishing''). Measure-
ment points are the last trading day of each of the Company's Ñscal years ended December 31, 2002,
December 31, 2003, December 31, 2004, and December 31, 2005. The graph assumes that $100 was invested
on December 31, 2002 in the Common Stock of the Company, the NASDAQ Market Index and the S&P 500
Publishing and assumes reinvestment of any dividends. The stock price performance on the following graph is
not indicative of future stock price performance. Only four years of cumulative total stockholder return is
provided because Travelzoo's stock wasn't registered under Section 12 of the Exchange Act prior to that date.
Price information is not given for periods prior to 2002 because the shares of the Company were not publicly
traded before 2002.
DOLLARS
0
500
1000
1500
2000
2500
3000
S&P 500 Publishing
NASDAQ Market Index
Travelzoo Inc.
12/31/200512/31/200412/31/200312/31/2002
Travelzoo Inc.
NASDAQ Market Index
S&P 500 Publishing
Measurement Point 12/31/2002 12/31/2003 12/31/2004 12/31/2005
Travelzoo Inc. $100.00 $217.50 $2,385.75 $550.00
NASDAQ Market Index $100.00 $149.51 $ 162.36 $164.95
S&P 500 Publishing $100.00 $118.80 $ 115.28 $100.68
Independent Auditors
KPMG LLP served as Travelzoo's principal independent auditors for our 2005 Ñscal year. KPMG LLP
representatives are not expected to be present at the Annual Meeting or to make a formal statement.
Consequently, representatives of KPMG LLP will not be available to respond to questions at the meeting.
The Audit Committee has not yet selected our independent auditors for our 2006 Ñscal year. The Audit
Committee annually reviews the performance of our independent public accountants and the fees charged for
their services. This review has not yet been completed. Based upon the results of this review, the Audit
Committee will determine which independent public accounting Ñrm to engage to perform our annual audit.
Approval of our accounting Ñrm is not required by our bylaws or otherwise to be submitted to the
shareholders.
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