Travelzoo slides to 52-week low after swinging to Q2 net loss
Internet-based travel company Travelzoo Inc. (Nasdaq:TZOO) has slipped 11% today to a 52-week low after it reported after Thursday’s close it had swung to a second-quarter loss. For the quarter ended June 30, net loss was $1.2 million, or $0.08 per share, compared to a net income of $2.8 million, or $0.17 per share for the same quarter a year ago. Revenues were up 8% to $21.8 million.
“In [second quarter of] 2008, we continued to develop Travelzoo into a global brand,” said Ralph Bartel, chairman and CEO, in a statement. “The costs related to our aggressive expansion in Asia Pacific and Europe negatively impact our reported operating profit.”
In morning trading, shares are at $6.76 at 10:51 a.m. ET, down $0.81 from Thursday’s close. Shares fell to a 52-week low of $6.46 shortly after today’s opening.
“In [second quarter of] 2008, we continued to develop Travelzoo into a global brand,” said Ralph Bartel, chairman and CEO, in a statement. “The costs related to our aggressive expansion in Asia Pacific and Europe negatively impact our reported operating profit.”
In morning trading, shares are at $6.76 at 10:51 a.m. ET, down $0.81 from Thursday’s close. Shares fell to a 52-week low of $6.46 shortly after today’s opening.
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