Travelzoo 2005 Annual Report Download - page 70

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TRAVELZOO INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Ì (Continued)
(7) Unaudited Quarterly Information
The following represents unaudited quarterly Ñnancial data for 2005 and 2004.
Quarters Ended
Dec 31, Sept 30, June 30, Mar 31, Dec 31, Sept 30, June 30, Mar 31,
2005 2005 2005 2005 2004 2004 2004 2004
(In thousands)
Revenues ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $13,901 $13,384 $12,258 $11,228 $10,509 $9,507 $7,201 $6,462
Cost of revenues ÏÏÏÏÏÏÏÏÏÏÏ 249 225 224 179 166 183 166 179
Gross proÑt ÏÏÏÏÏÏÏÏÏ 13,652 13,159 12,034 11,049 10,343 9,324 7,035 6,283
Operating expenses:
Sales and marketingÏÏÏÏÏÏ 7,632 7,101 6,152 5,030 4,268 4,339 3,667 3,457
General and administrative 2,496 1,878 2,127 2,608 2,348 1,657 1,101 1,115
Total operating
expensesÏÏÏÏÏÏÏÏÏÏ 10,128 8,979 8,279 7,638 6,616 5,996 4,768 4,572
Income from operationsÏÏÏÏÏ 3,524 4,180 3,755 3,411 3,727 3,328 2,267 1,711
Interest incomeÏÏÏÏÏÏÏÏÏÏÏÏ 304 279 218 160 106 9 6 5
Foreign currency gain (loss) (6) (4) (4) Ì Ì Ì Ì Ì
Income before income taxes 3,822 4,455 3,969 3,571 3,833 3,337 2,274 1,716
Income tax expense ÏÏÏÏÏÏÏÏ 2,168 2,156 1,791 1,739 2,104 1,371 940 707
Net income ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $ 1,654 $ 2,299 $ 2,178 $ 1,832 $ 1,729 $1,966 $1,334 $1,009
Basic net income per share ÏÏ $ .10 $ .14 $ .13 $ .11 $ .11 $ .13 $ .08 $ .05
Diluted net income per share $ .10 $ .13 $ .12 $ .10 $ .09 $ .11 $ .08 $ .05
(8) Subsequent Event
On February 13, 2006 the board of directors authorized the repurchase of up to 1 million shares of the
Company's outstanding common stock.
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