Travelzoo announced financial results for the first quarter ended March 31, 2016, with revenue of $34.8 million and operating income of $3.1 million. In nominal terms, revenue decreased by 11% year-over-year. In constant currencies, revenue decreased by 9% year-over-year. Net income was $2.0 million, up 181% year-over-year. Diluted earnings per share (EPS) were $0.14, up from $0.05 in the prior-year period.

* Revenue of $34.8 million, down 9% in constant currencies
* Operating profit of $3.1 million
* Earnings per share of $0.14, compared to $0.05 in the prior-year period
* Cash flow from operations of $1.4 million

"In the first quarter of 2016, more than 1 million new members joined Travelzoo. Our objective remains to leverage Travelzoo's global scale and trusted brand for further improvements in earnings in future periods," said Holger Bartel, Chairman and Global CEO. 

Asia Pacific

Asia Pacific business segment revenue decreased 15% year-over-year to $2.3 million. In constant currencies, revenue decreased 10% year-over-year. Operating loss for the first quarter was $1.0 million, compared to an operating loss of $833,000 in the prior-year period.

Europe

Europe business segment revenue decreased 6% year-over-year to $10.9 million. In constant currencies, revenue decreased 2% year-over-year. Operating income for the first quarter was $2.1 million, or 19% of revenue, up from $1.7 million, or 15% of revenue in the prior-year period.

North America

North America business segment revenue decreased 13% year-over-year to $21.7 million.
Operating income for the first quarter was $2.1 million, or 10% of revenue, compared to an operating income of $2.1 million in the prior-year period. 

Members
As of March 31, 2016, Travelzoo had a worldwide unduplicated number of members of 28.7
million. In Asia Pacific, unduplicated number of members was 3.5 million as of March 31, 2016, up 2% from March 31, 2015. In Europe, unduplicated number of members was 8.1 million as of March 31, 2016, up 8% from March 31, 2015. In North America, unduplicated number of members was 17.3 million as of March 31, 2016, up 1% from March 31, 2015. 

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