Travelzoo 2007 Annual Report Download - page 51

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Item 6. Selected Consolidated Financial Data
The selected consolidated financial data set forth below are derived from audited consolidated financial
statements. The following selected consolidated financial data is qualified in its entirety by, and should be read in
conjunction with, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and
the consolidated financial statements and the notes thereto included elsewhere herein.
Consolidated Statement of Operations Data:
2007 2006 2005 2004 2003
Year Ended December 31,
(In thousands, except per share
data)
Revenues .............................. $78,911 $69,525 $50,772 $33,679 $17,991
Income from operations ................... 20,624 29,753 14,870 11,033 3,739
Net income ............................ 9,109 16,803 7,963 6,037 2,050
Net income per share — basic............... $ 0.61 $ 1.08 $ 0.49 $ 0.36 $ 0.11
Net income per share — diluted ............. $ 0.57 $ 1.01 $ 0.45 $ 0.33 $ 0.10
Shares used in per share calculation — basic .... 14,847 15,503 16,249 16,879 19,425
Shares used in per share calculation — diluted . . 16,074 16,712 17,731 18,475 20,527
Consolidated Balance Sheet Data:
2007 2006 2005 2004 2003
December 31,
(In thousands)
Cash and cash equivalents ............... $22,641 $33,415 $24,469 $26,435 $3,522
Short term investments ................. — — 19,887 10,032 —
Working capital ...................... 26,201 36,472 48,136 40,027 3,460
Total assets .......................... 37,286 43,700 55,452 43,257 6,726
Stockholders’ equity ................... 25,901 36,817 48,533 40,263 3,841
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations
The following discussion and analysis of Travelzoo’s financial condition and results of operations should be
read in conjunction with, and is qualified in its entirety by reference to, the consolidated financial statements and the
notes thereto appearing elsewhere in this report.
Overview
Travelzoo Inc. is a global Internet media company. We publish travel offers from hundreds of travel
companies. As the Internet is becoming consumers’ preferred medium to search for travel offers, we provide
airlines, hotels, cruise lines, vacation packagers, and other travel companies with a fast, flexible, and cost-effective
way to reach millions of users. While our products provide advertising opportunities for travel companies, they also
provide Internet users with a free source of information on current sales and specials from hundreds of travel
companies.
Our publications and products include the Travelzoo Web sites (www.travelzoo.com, cn.travelzoo.com,
www.travelzoo.ca, www.travelzoo.co.jp, www.travelzoo.com.hk, www.travelzoo.com.tw, www.travelzoo.co.uk,
www.travelzoo.de, www.travelzoo.fr, among others), the Travelzoo Top 20 e-mail newsletter, and the Newsflash
e-mail alert service. We also operate SuperSearch, a pay-per-click travel search engine and the Travelzoo Network,a
network of third-party Web sites that list deals published by Travelzoo. More than 900 travel companies purchase
our advertising services.
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