Travelzoo Q2 Profit Misses Estimate

(RTTNews) - Internet media company Travelzoo Inc. (TZOO) reported net income for the second quarter of $1.3 million or $0.09 per share, compared to $7.9 million or $0.54 per share for the year-ago quarter.

The year-ago quarter results included a $3.5 million release of reserve for the three and six months ended June 30, 2014 related to settlement agreements in connection with a dispute over unclaimed property audits.

Revenue for the second quarter fell to $34.06 million from $36.88 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.10 per share on revenue of $33.80 million for the second quarter. Analysts' estimates typically exclude special items.