Travelzoo Announces Preliminary Financial Results and Growth
NEW YORK, October 12, 2012 - Travelzoo Inc. (NASDAQ:
TZOO), a global Internet media company, today announced
certain preliminary financial results for the third quarter
30, 2012 and announced that the Company is in negotiations to
acquire a hotel booking website.
Travelzoo expects to report revenues in the range of $35.0
million to $35.5 million for the third quarter ended
September 30, 2012. Travelzoo expects to report earnings per
share of $0.20 to $0.22. Travelzoo intends to announce
detailed financial results for the third quarter on Thursday,
"We continue to be positive about our long-term growth
strategy," said Chris Loughlin, chief executive officer, "but
we have found our hotel search offering and the group-buying
voucher model not meeting the needs of hotels and users well
enough, and therefore plan to adjust our product offering."
Travelzoo discloses that the Company is in active
negotiations to acquire a hotel booking website. "Our hotel
commission tests during the third quarter have shown positive
results," said Mr. Loughlin, "so we are excited about adding,
or developing, a hotel booking platform to our deals
Travelzoo's expanded hotel offering will allow Travelzoo
subscribers to book deals on any night, at select hotels.
Unlike online travel agency (OTA) offerings, Travelzoo
intends to limit the selection to those hotels tested and
approved by Travelzoo's Deal Experts.
On July 26, 2012, the Company announced its board of
directors has authorized the repurchase of up to 1 million
shares of the Company's outstanding common shares.
Travelzoo Inc. is a global Internet media company. With more
than 25 million subscribers in North America, Europe, and
Asia Pacific and 25 offices worldwide, Travelzoo® publishes
deals from more than 2,000 travel and entertainment
companies. Travelzoo's deal experts review offers to find the
best deals and confirm their true value. In Asia Pacific,
Travelzoo is independently owned and operated by Travelzoo
(Asia) Ltd. and Travelzoo Japan K.K. under a license
agreement with Travelzoo Inc.
Certain statements contained in this press release that are
not historical facts may be forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities and Exchange Act of 1934. These
forward-looking statements may include, but are not limited
to, statements about our plans, objectives, expectations,
prospects and intentions, markets in which we participate and
other statements contained in this press release that are not
historical facts. When used in this press release, the words
"expect," "predict," "project," "anticipate," "believe,"
"estimate," "intend," "plan," "seek" and similar expressions
are generally intended to identify forward-looking
statements. Because these forward- looking statements involve
risks and uncertainties, there are important factors that
could cause actual results to differ materially from those
expressed or implied by these forward-looking statements,
including changes in our plans, objectives, expectations,
prospects and intentions, and other factors discussed in our
filings with the SEC. We cannot guarantee any future levels
of activity, performance or achievements. Travelzoo
undertakes no obligation to update forward-looking statements
to reflect events or circumstances occurring after the date
of this press release. Travelzoo and Top 20 are registered
trademarks of Travelzoo Inc. All other company and product
names mentioned are trademarks of their respective owners.