Friday, November 02, 2007
Travelzoo - results in, offices opening but stock down
They have a new AU GM in Brad Gurrie and Asian offices opening all over the place but the market was not happy with Travelzoo's recent results. Motley Fool is carrying the story that while Q3 revenue is up 13% to $19.9mm they were not up enough to meet market expectations. Operating profits were down 39% however - probably driven by the costs of expansion and opening new offices. These costs are hitting straight at the bottom line. Stock itself is at around seventeen and a half bucks - down by more than a half from high in May and hundred in Jan 05 - but well up from opening of around $3.