8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D. C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 or 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event
reported):      April 12, 2004

Travelzoo Inc.

(Exact Name of Registrant as Specified in Charter)

Delaware	000-50171	36-4415727
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S Employer Identification No.)

590 Madison Avenue, 21st Floor New York, New York	10022
(Address of Principal Executive Offices)	(Zip Code)

Registrant's telephone number, including area code:

(212) 521-4200

Item 7.      Financial Statements and Exhibits.

(c) Exhibits

99.1 Press Release, dated April 12, 2004.

Item 12.      Results of Operations and Financial Condition.

                 Reference is made to the press release of Registrant issued on April 12, 2004, regarding first quarter 2004 financial results, which is incorporated herein by reference. A copy of the press release is attached to this Form 8-K as Exhibit 99.1.

SIGNATURE

        Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	TRAVELZOO INC. (Registrant)
Date:  April 12, 2004	By:	/s/ Ralph Bartel
		Ralph Bartel Chairman of the Board and Chief Executive Officer

EX-99.1

EXHIBIT 99.1

Travelzoo Inc.
590 Madison Avenue, 21st Floor
New York, NY 10022
Phone (212)521-4200
Fax (212)521-4230

Media Contact:
Kelly Ford
(212)521-4216 direct
kford@travelzoo-inc.com

Travelzoo Reports First Quarter 2004 Results:
Record Revenues and Record Profit

NEW YORK, April 12, 2004 — Travelzoo Inc. (NASDAQ: TZOO), the Internet’s largest publisher of sales and specials from hundreds of travel companies, today reported record revenues and record profit for the first quarter ended March 31, 2004.

      First Quarter 2004 Financial Highlights:

• Revenues increased 74% from same period last year
• Sequential quarterly revenue increase of 24%
• Net profit increased 162% from same period last year
• Pre-tax profit margin of 27%

        Travelzoo Inc. reported revenues of approximately $6.5 million for the first quarter ended March 31, 2004, an increase of 74% over revenues of approximately $3.7 million for the same period last year, and a quarterly sequential increase of 24% over revenues of approximately $5.2 million for the fourth quarter ended December 31, 2003.

        The Company reported a net income of approximately $1.0 million for the first quarter of 2004 compared to a net income of approximately $385,000 for the same period in 2003.

        Earnings per share for the first quarter of 2004 were $0.05 per basic and diluted share, up 150% from $0.02 in the same period last year.

        Income before income taxes for the first quarter ended March 31, 2004 was approximately $1.7 million or 27% of revenues, compared to approximately $652,000, or 18% of revenues, for the same period last year.

        “Travelzoo’s performance met our high expectations, delivering one of the most successful quarters in the Company’s history,” said Ralph Bartel, CEO of Travelzoo.

About Travelzoo
        Travelzoo Inc. is the Internet’s largest publisher of sales and specials from hundreds of travel companies. Travelzoo’s publications include the Travelzoo^® website (www.travelzoo.com), the Top 20^® and Weekend.com^® e-mail newsletters, and Newsflash™. With over 7 million subscribers, Travelzoo lists sales and specials from more than 300 advertisers, including Alamo Rent A Car, American Airlines, Carnival Cruise Lines, Europe Express, Fairmont Hotels & Resorts, Hertz, JetBlue Airways, Kimpton Hotels, Liberty Travel, Lufthansa, Mark Travel, Marriott, Omni Hotels, Orbitz, Pleasant Holidays, Royal Caribbean Cruises, Spirit Airlines, Starwood Hotels & Resorts Worldwide, SunTrips, The Venetian, Travelocity, United Airlines, US Airways, Virgin Atlantic Airways and Wyndham Hotels & Resorts.

Certain statements contained in this press release that are not historical facts may be forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward looking statements may include, but are not limited to, statements about our plans, objectives, expectations, prospects and intentions, markets in which we participate and other statements contained in this press release that are not historical facts. When used in this press release, the words “expect,” “predict,” “project,” “anticipate,” “believe,” “estimate,” “intend,” “plan,” “seek” and similar expressions are generally intended to identify forward looking statements. Because these forward looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward looking statements, including changes in our plans, objectives, expectations, prospects and intentions and other factors discussed in our filings with the SEC. We cannot guarantee any future levels of activity, performance or achievements. Travelzoo undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.

Travelzoo, Top 20, and Weekend.com are registered trademarks of Travelzoo Inc. All other company and product names mentioned are trademarks of their respective owners.

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Travelzoo Inc.
Condensed Consolidated Statements of Operations
(unaudited, in thousands, except per share amounts)

	Three months ended March 31,
	2004	2003
Revenues	$  6,462	$  3,714
Cost of Revenues	179	83
Gross Profit	6,283	3,631
Operating Expenses:
Sales and Marketing	3,457	1,924
General and Administrative	1,115	1,057
Merger Expenses	–	–
Total Operating Expenses	4,572	2,981
Income from Operations	1,711	650
Interest Income	5	2
Income before Income Taxes	1,716	652
Income Taxes	707	267
Net Income	$  1,009	$     385
Basic Net Income per Share	$    0.05	$    0.02
Diluted Net Income per Share	0.05	0.02
Shares Used in Computing
Basic Net Income per Share	19,425	19,425
Shares Used in Computing
Diluted Net Income per Share	20,648	20,505

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Travelzoo Inc.
Condensed Consolidated Balance Sheets
(unaudited, in thousands)

	March 31, 2004		December 31, 2003
ASSETS Cash	$  3,424		$  3,522
Accounts Receivable, net	3,322		2,370
Deposits	2		97
Other Current Assets	176		132
Deferred Income Taxes	225		225
Total Current Assets	7,149		6,346
Deposits	142		42
Deferred Income Taxes	28		27
Property and Equipment, net	150		164
Intangible Assets, net	130		147
Total Assets	$  7,599		$  6,726
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts Payable	741		224
Accrued Expenses	1,161		1,328
Deferred Revenue	75		22
Income Tax Payable	722		1,311
Total Liabilities	2,749		2,885
Common Stock	194		194
Additional paid-in capital	(116	)	(116	)
Retained Earnings	4,772		3,763
Total Stockholders' Equity	4,850		3,841
Total Liabilities and
Stockholders' Equity	$  7,599		$  6,726

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