Travelzoo Posted Heavy Losses in 2007

Travelzoo, an Internet publisher of travel deals, recorded a net income of $9.1 million in 2007, a 45 percent drop from the year prior, when it earned $16.8 million. The company’s fourth-quarter net income fell 89 percent, as Travelzoo earned just $46,000 in that quarter.

“Travelzoo’s latest results were impacted by non-tax deductible losses from our foreign operations in Asia-Pacific and Europe,” said Ralph Bartel, Travelzoo’s chairman and CEO.

“As announced frequently in our investor communications over the last 12 months, our strategy of investing in Asia-Pacific and Europe affects our reported earnings. We believe that going global is an opportunity to create attractive shareholder value in the future and we want to seize this opportunity.” Mr. Bartel pointed out.