Travelzoo 2015 Annual Report Download - page 96

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53
TRAVELZOO INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share amounts)
Year Ended December 31,
2015 2014 2013
Revenues $ 141,716 $ 153,240 $ 170,633
Cost of revenues 18,824 19,174 18,477
Gross profit 122,892 134,066 152,156
Operating expenses:
Sales and marketing 79,042 83,511 90,576
Product development 12,528 11,326 8,828
General and administrative 24,176 29,002 29,591
Unexchanged promotional shares —(7,583) 22,000
Total operating expenses 115,746 116,256 150,995
Income from operations 7,146 17,810 1,161
Other income (loss) (1,242) 91 (25)
Income before income taxes 5,904 17,901 1,136
Income taxes (4,960) 4,839 7,718
Net income (loss) $ 10,864 $ 13,062 $ (6,582)
Basic net income (loss) per share $ 0.74 $ 0.88 $ (0.43)
Diluted net income (loss) per share $ 0.74 $ 0.88 $ (0.43)
Shares used in computing basic net income (loss) per share 14,722 14,768 15,269
Shares used in computing diluted net income (loss) per share 14,722 14,809 15,269
See accompanying notes to consolidated financial statements.