Travelzoo Inc (TZOO, Financial) filed Quarterly Report for the period ended 2011-06-30.
Travelzoo Inc has a market cap of $936.3 million; its shares were traded at around $56.88 with a P/E ratio of 50.8 and P/S ratio of 8.3. Travelzoo Inc had an annual average earning growth of 27.7% over the past 10 years.
Our total revenues increased to $74.5 million for the six months ended June 30, 2011 from $56.6 million for the six months ended June 30, 2010. This represents an increase of $17.9 million or 32%. $10.7 million of the increase in revenues came from our operations in North America and was attributed primarily to a $10.5 million increase in revenues from our publications, which includes the Travelzoo websites, the Top 20 e-mail newsletter, and the Newsflash e-mail alert service and the Local Deals e-mail alert service. $7.2 million of the increase in revenues came from our operations in Europe, which had an increase of 60% in revenues year-over-year, and was attributed primarily to a $7.0 million increase in revenue from our publications, which includes the Travelzoo websites, the Top 20 e-mail newsletter. In local currency terms, revenues from our operations in Europe increased 51% year-over-year. The weakening of the U.S. dollar relative to the British Pound Sterling and the Euro in the six months ended June 30, 2011 compared to the six months ended June 30, 2010 had a favorable impact on the revenues from our operations in Europe. Had foreign exchange rates remained constant in these periods, revenues from our operations in Europe for the six months ended June 30, 2010 would have been approximately $1.1 million lower than reported revenues of $19.5 million.
Sales and marketing expenses consist primarily of advertising and promotional expenses, salary expenses associated with sales, marketing and production staff, expenses related to our participation in industry conferences, and public relations expenses. Sales and marketing expenses increased to $19.1 million for the three months ended June 30, 2011 from $14.0 million for the three months ended June 30, 2010. The goal of our advertising was to acquire new subscribers for our e-mail products, increase the traffic to our websites, and increase brand awareness for Travelzoo and Fly.com. The $5.1 million increase in sales and marketing expenses for the three months ended June 30, 2011 compared to the three months ended June 30, 2010 was primarily due to a $2.6 million increase in salary and employee related expenses due primarily to an increase in headcount, a $2.0 million dollar increase in television advertising expense and a $989,000 increase in advertising to acquire traffic to our Travelzoo website, offset by $671,000 decrease in marketing expense for Fly.com and a $424,00 decrease in subscriber acquisition expense. For the three months ended June 30, 2011 and 2010, advertising expenses accounted for 54% and 61%, respectively, of total sales and marketing expenses.
Sales and marketing expenses increased to $35.3 million for the six months ended June 30, 2011 from $29.0 million for the six months ended June 30, 2010. The $6.3 million increase in sales and marketing expenses for the six months ended June 30, 2011 compared to the six months ended June 30, 2010 was primarily due to a $4.1 million increase in salary and employee related expenses due primarily to an increase in headcount, a $2.0 million dollar increase in television advertising expense and a $842,000 increase in advertising to acquire traffic to our Travelzoo website, offset by a $741,000 decrease in marketing expenses for Fly.com, and a $573,000 decrease in subscriber acquisition expense. For the six months ended June 30, 2011 and 2010, advertising expenses accounted for 53% and 60%, respectively, of total sales and marketing expenses.
General and administrative expenses consist primarily of compensation for administrative, executive, and software development staff, fees for professional services, rent, bad debt expense, amortization of intangible assets, and general office expense. General and administrative expenses increased to $8.3 million for the three months ended June 30, 2011 from $6.5 million for the three months ended June 30, 2010. The $1.8 million increase in general and administrative expenses was primarily due to a $725,000 increase in salary and employee related expenses, a $519,000 increase in rent, office and insurance expense and a $356,000 increase in professional services expense.
General and administrative expenses increased to $16.7 million for the six months ended June 30, 2011 from $13.2 million for the six months ended June 30, 2010. The $3.5 million increase in general and administrative expenses was primarily due to a $1.0 million increase in rent and office expense, a $995,000 increase in salary and employee related expenses, and a $932,000 increase in professional services expense.
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Travelzoo Inc has a market cap of $936.3 million; its shares were traded at around $56.88 with a P/E ratio of 50.8 and P/S ratio of 8.3. Travelzoo Inc had an annual average earning growth of 27.7% over the past 10 years.
Highlight of Business Operations:
Our total revenues increased to $37.6 million for the three months ended June 30, 2011 from $28.1 million for the three months ended June 30, 2010. This represents an increase of $9.5 million or 34%. Revenue from our operations in North America increased by $5.2 million, or 25% year-over-year, which was primarily due to a $5.3 million increase in revenues from our publications, including the Travelzoo website, the Top 20 e-mail newsletter, the Newsflash e-mail alert service, and the Local Deals e-mail alert service. Revenue from our operations in Europe increased by $4.0 million, or 67% year-over-year, which was attributed primarily to a $3.7 million increase in revenue from our publications, including the Travelzoo website, the Top 20 e-mail newsletter, the Newsflash e-mail alert service and the Local Deals e-mail alert service. In local currency terms, revenues from our operations in Europe increased 53% year-over-year. The strengthening of the U.S. dollar relative to the British Pound Sterling and the Euro in the three months ended June 30, 2011 compared to the three months ended June 30, 2010 had a favorable impact on the revenues from our operations in Europe. Had foreign exchange rates remained constant in these periods, revenues from our operations in Europe for the three months ended June 30, 2011 would have been approximately $958,000 lower than reported revenues of $10.0 million.Our total revenues increased to $74.5 million for the six months ended June 30, 2011 from $56.6 million for the six months ended June 30, 2010. This represents an increase of $17.9 million or 32%. $10.7 million of the increase in revenues came from our operations in North America and was attributed primarily to a $10.5 million increase in revenues from our publications, which includes the Travelzoo websites, the Top 20 e-mail newsletter, and the Newsflash e-mail alert service and the Local Deals e-mail alert service. $7.2 million of the increase in revenues came from our operations in Europe, which had an increase of 60% in revenues year-over-year, and was attributed primarily to a $7.0 million increase in revenue from our publications, which includes the Travelzoo websites, the Top 20 e-mail newsletter. In local currency terms, revenues from our operations in Europe increased 51% year-over-year. The weakening of the U.S. dollar relative to the British Pound Sterling and the Euro in the six months ended June 30, 2011 compared to the six months ended June 30, 2010 had a favorable impact on the revenues from our operations in Europe. Had foreign exchange rates remained constant in these periods, revenues from our operations in Europe for the six months ended June 30, 2010 would have been approximately $1.1 million lower than reported revenues of $19.5 million.
Sales and marketing expenses consist primarily of advertising and promotional expenses, salary expenses associated with sales, marketing and production staff, expenses related to our participation in industry conferences, and public relations expenses. Sales and marketing expenses increased to $19.1 million for the three months ended June 30, 2011 from $14.0 million for the three months ended June 30, 2010. The goal of our advertising was to acquire new subscribers for our e-mail products, increase the traffic to our websites, and increase brand awareness for Travelzoo and Fly.com. The $5.1 million increase in sales and marketing expenses for the three months ended June 30, 2011 compared to the three months ended June 30, 2010 was primarily due to a $2.6 million increase in salary and employee related expenses due primarily to an increase in headcount, a $2.0 million dollar increase in television advertising expense and a $989,000 increase in advertising to acquire traffic to our Travelzoo website, offset by $671,000 decrease in marketing expense for Fly.com and a $424,00 decrease in subscriber acquisition expense. For the three months ended June 30, 2011 and 2010, advertising expenses accounted for 54% and 61%, respectively, of total sales and marketing expenses.
Sales and marketing expenses increased to $35.3 million for the six months ended June 30, 2011 from $29.0 million for the six months ended June 30, 2010. The $6.3 million increase in sales and marketing expenses for the six months ended June 30, 2011 compared to the six months ended June 30, 2010 was primarily due to a $4.1 million increase in salary and employee related expenses due primarily to an increase in headcount, a $2.0 million dollar increase in television advertising expense and a $842,000 increase in advertising to acquire traffic to our Travelzoo website, offset by a $741,000 decrease in marketing expenses for Fly.com, and a $573,000 decrease in subscriber acquisition expense. For the six months ended June 30, 2011 and 2010, advertising expenses accounted for 53% and 60%, respectively, of total sales and marketing expenses.
General and administrative expenses consist primarily of compensation for administrative, executive, and software development staff, fees for professional services, rent, bad debt expense, amortization of intangible assets, and general office expense. General and administrative expenses increased to $8.3 million for the three months ended June 30, 2011 from $6.5 million for the three months ended June 30, 2010. The $1.8 million increase in general and administrative expenses was primarily due to a $725,000 increase in salary and employee related expenses, a $519,000 increase in rent, office and insurance expense and a $356,000 increase in professional services expense.
General and administrative expenses increased to $16.7 million for the six months ended June 30, 2011 from $13.2 million for the six months ended June 30, 2010. The $3.5 million increase in general and administrative expenses was primarily due to a $1.0 million increase in rent and office expense, a $995,000 increase in salary and employee related expenses, and a $932,000 increase in professional services expense.
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