Travelzoo 2006 Annual Report Download - page 61

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TRAVELZOO INC.
CONSOLIDATED BALANCE SHEETS
2006 2005
December 31,
(In thousands, except
per share amounts)
ASSETS
Current assets:
Cash and cash equivalents ............................................. $33,415 $24,469
Short term investments................................................ — 19,887
Accounts receivable, less allowance for doubtful accounts of $726 and $418 at 2006
and 2005, respectively .............................................. 7,274 9,020
Deposits .......................................................... 177 28
Prepaid expenses and other current assets .................................. 506 631
Deferred tax assets................................................... 1,980 1,020
Total current assets................................................. 43,352 55,055
Deposits, less current portion ............................................. 142 190
Deferred tax assets, less current portion ..................................... — 28
Property and equipment, net ............................................. 172 159
Intangible assets, net ................................................... 34 20
Total assets ...................................................... $43,700 $55,452
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable.................................................... $ 2,839 $ 2,373
Accrued expenses ................................................... 2,149 3,394
Deferred revenue .................................................... 750 296
Income tax payable .................................................. 1,142 856
Total current liabilities .............................................. 6,880 6,919
Deferred tax liabilities .................................................. 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; 15,250 and
16,250 shares issued and outstanding at 2006 and 2005, respectively) ........... 153 163
Additional paid-in capital .............................................. 2,076 30,645
Retained earnings ................................................... 34,566 17,763
Accumulated other comprehensive income (loss) . . . ......................... 22 (38)
Total stockholders’ equity ............................................ 36,817 48,533
Total liabilities and stockholders’ equity ................................. $43,700 $55,452
See accompanying notes to consolidated financial statements
34