Travelzoo 2007 Annual Report Download - page 86

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(10) Unaudited Quarterly Information
The following represents unaudited quarterly financial data for 2007 and 2006.
Dec 31,
2007
Sept 30,
2007
June 30,
2007
Mar 31,
2007
Dec 31,
2006
Sept 30,
2006
June 30,
2006
Mar 31,
2006
Quarters Ended
(In thousands, except per share amounts)
Revenues . . . . . . . . . . . . . . . . . . . . . . $19,113 $19,943 $20,115 $19,740 $17,652 $17,586 $17,358 $16,929
Cost of revenues . . . . . . . . . . . . . . . . . 737 563 444 353 256 232 286 264
Gross profit . . . . . . . . . . . . . . . . . 18,376 19,380 19,671 19,387 17,396 17,354 17,072 16,665
Operating expenses:
Sales and marketing . . . . . . . . . . . . . 10,425 10,953 10,745 9,317 7,331 6,975 7,973 7,099
General and administrative . . . . . . . . 5,496 3,488 3,173 2,593 2,394 2,249 2,112 2,601
Total operating expenses . . . . . . . . 15,921 14,441 13,918 11,910 9,725 9,224 10,085 9,700
Income from operations . . . . . . . . . . . . 2,455 4,939 5,753 7,477 7,671 8,130 6,987 6,965
Interest income . . . . . . . . . . . . . . . . . . 205 312 428 364 323 280 302 344
Gain (loss) on foreign currency . . . . . . . 76 67 36 (1) (10) 7 13 (7)
Income before income tax expense . . . . 2,736 5,318 6,217 7,840 7,984 8,417 7,302 7,302
Income tax expense . . . . . . . . . . . . . . . 2,690 3,164 3,371 3,777 3,699 3,866 3,452 3,185
Net income . . . . . . . . . . . . . . . . . . . . $ 46 $ 2,154 $ 2,846 $ 4,063 $ 4,285 $ 4,551 $ 3,850 $ 4,117
Basic net income per share. . . . . . . . . . $ .00 $ .15 $ .19 $ .27 $ .28 $ .30 $ .25 $ .26
Diluted net income per share . . . . . . . . $ .00 $ .14 $ .17 $ .25 $ .26 $ .28 $ .23 $ .24
54
TRAVELZOO INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)