Travelzoo’s revenues increased to a record level of $23.4 million in the first quarter.

Published: 28 Apr 2009

Travelzoo’s revenues increased to a record level of $23.4 million in the first quarter.

That is an increase of 12 percent over revenue of $20.9 million in the same period last year.

“The number of subscribers to our publications grew during the first quarter by 866,000, or six percent, to 15.5 million. This is the fastest quarter-over-quarter growth rate in subscribers that we have seen since 2005,” said Holger Bartel, CEO of Travelzoo.

Travelzoo’s net income in the first quarter was $338,000, up from net loss of $1 million posted for the first quarter last year.

Travelzoo added a total of 1.2 million new subscribers to its email publications.

In North America, it acquired 720,000 subscribers at an average cost of $2.29 per subscriber in the first quarter. This compares to 488,000 subscribers at an average cost of $2.75 in the last quarter of 2008, as per the earnings call transcript posted on Seeking Alpha.

In Asia-Pacific, the company acquired 183,000 subscribers at an average cost of $2.23 and in Europe, it added 295,000 subscribers at an average cost of $3.09 per subscriber.

In the second quarter, the company plans to continue its strategy of investing in subscriber acquisition, particularly in North American, Europe and Japan.

Read more: Travelzoo