Travelzoo today announced financial results for the fourth quarter ended December 31, 2017, with revenue of USD 27.0 million and operating profit of USD1.1 million. In nominal terms, revenue increased by 1% year-over-year. In constant currencies, revenue decreased by 2% year-over-year. Net income was USD 675,000, with earnings per share (EPS) of USD 0.05.
Highlights
* Revenue of USD 27.0 million, up 1% year-over-year
* Operating profit of USD 1.1 million
* Earnings per share of USD 0.05
* Cash flow from operations of USD 4.0 million
Asia Pacific
Asia Pacific business segment revenue decreased 19% year-over-year to USD 2.0 million. Operating loss for the fourth quarter was USD 1.6 million, compared to an operating loss of USD 810,000 in the prior-year period. The fourth quarter 2017 operating loss was impacted by the cost of a severance payment to an executive in Asia Pacific.
Europe
Europe business segment revenue increased 4% year-over-year to USD 8.8 million. In constant currencies, revenue decreased 4% year-over-year. Operating profit for the fourth quarter was USD 764,000, or 9% of revenue, compared to operating income of USD 582,000, or 7% of revenue in the prior-year period.
North America
North America business segment revenue increased 2% year-over-year to USD 16.2 million. In constant currencies, revenue increased 1% year-over-year. Operating profit for the fourth quarter was USD 1.9 million, or 12% of revenue, compared to operating income of USD 2.3 million, or 14% of revenue in the prior-year period.
Members
As of December 31, 2017, Travelzoo had a worldwide unduplicated number of members of 29.4 million. In Asia Pacific, unduplicated number of members was 3.6 million as of December 31, 2017, up 1% from December 31, 2016. In Europe, unduplicated number of members was 8.5 million as of December 31, 2017, up 5% from December 31, 2016. In North America, unduplicated number of members was 17.4 million as of December 31, 2017, up 1% from December 31, 2016.
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