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Travelzoo, a global publisher of travel and entertainment offers, today announced financial results for the fourth quarter ended December 31, 2016, with revenue of $29.3 million and operating income of $1.9 million. In nominal terms, revenue decreased by 9% year-over-year. In constant currencies, revenue decreased by 5% year-over-year. Net income was $943,000, with EPS of $0.07.
"We completed 2016 with the successful launch of the new Travelzoo site along with increased operating profits and cash flows,” said Holger Bartel, Chairman and Global CEO. “In 2017, we will further increase the number of exclusive offers negotiated for our members.”
• Revenue of $29.3 million, down 5% year-over-year in constant currencies
• Operating profit of $1.9 million, compared to $976,000 in prior-year period
• Earnings per share (EPS) of $0.07, compared to $0.03 in prior-year period
• Cash flow from operations of $6.8 million
Asia Pacific
Asia Pacific business segment revenue decreased 6% year-over-year to $2.4 million. In constant currencies, revenue decreased 9% year-over-year. Operating loss for the fourth quarter ended December 31, 2016 was $808,000, compared to an operating loss of $920,000 in the prior-year period.
Europe
Europe business segment revenue decreased 15% year-over-year to $8.5 million. In constant currencies, revenue increased 3% year-over-year. Operating income for the fourth quarter ended December 31, 2016 was $574,000, or 7% of revenue, compared to operating income of $1.5 million, or 15% of revenue in the prior-year period.
North America
North America business segment revenue decreased 6% year-over-year to $18.3 million. Operating Income for the fourth quarter ended December 31, 2016 was $2.2 million, or 12% of revenue, up from $390,000 or 2% of revenue in the prior-year period.
Members
As of December 31, 2016, Travelzoo had a worldwide unduplicated number of members of 28.8 million. In Asia Pacific, unduplicated number of members was 3.6 million as of December 31, 2016, up 3% from December 31, 2015. In Europe, unduplicated number of members was 8.2 million as of December 31, 2016, up 4% from December 31, 2015. In North America, unduplicated number of members was 17.2 million as of December 31, 2016, flat from December 31, 2015.
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