Priceline.com Reports 35 Percent Increase in Quarterly Revenue

Priceline.com Reports 35 Percent Increase in Quarterly Revenue

Priceline reported a 35 percent increase in fourth-quarter revenues over last year, and net income of $175 million, a 72.2 percent increase compared to the prior year. The group's gross profit for the fourth quarter was $478.4 million, a 52.8 percent increase from the prior year. International operations contributed gross profit in the fourth quarter of $374 million, a 68.4 percent increase versus a year ago.

The group's operating income in the fourth quarter was $189 million, a 60.3 percent increase from the prior year. The group had GAAP net income applicable to common shareholders for the fourth quarter of $135.7 million, compared to $78.4 million a year ago.

For full-year 2010, the group had revenues of $3.08 billion, a 31.9 percent increase over 2009. International operations contributed full-year revenues of $1.4 billion, a 69.5 percent increase versus a year ago. International operations contributed full-year gross profit of $1.4 billion, a 69.7 percent increase versus the prior year.