This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Ambassadors Group, Inc. Reports First Quarter 2013 Results

Balance Sheet and Liquidity

Total assets at March 31, 2013 were $124.8 million, including $55.9 million in cash, cash equivalents and short-term available-for-sale securities. Long-term assets totaled $40.7 million primarily reflecting goodwill and intangible assets of the BookRags business, technology, hardware and systems used to deliver services, and the Company's office building, which has been listed for sale but is categorized as held for use. Total liabilities were $68.3 million, including $63.2 million in participant deposits for future travel. The Company has no debt outstanding and deployable cash of $14.1 million at March 31, 2013. Deployable cash is a non-GAAP measure defined in the attached schedules.

The Company paid a quarterly dividend of $0.06 per share on March 13, 2013. On April 16, 2013, the Company announced that its Board of Directors suspended the quarterly dividend to preserve liquidity and enhance the Company's financial flexibility.  

The following table summarizes the cash flows as further disclosed in the accompanying financial statements. Free cash flow, a non-GAAP measure, which is defined as cash flow from operations less purchase of property, equipment and intangibles, is also noted (in thousands):

  UNAUDITED
  Quarter ended March 31,
  2013 2012
Cash flow from operations  $ 20,131  $ 26,934
Purchases of property, equipment and intangibles  (688)  (851)
Free cash flow  19,443  26,083
     
Net purchase of available-for-sale securities  (15,444)  (34,371)
Dividend payments to shareholders  (1,017)  (1,054)
Repurchase of common stock  (487)  -- 
Other cash flows, net  (346)  (137)
Net increase (decrease) in cash and cash equivalents  $ 2,149  $ (9,479)

The change in cash flow from operations between periods, and in turn free cash flow, was driven primarily by a 14.4 percent decline in participant deposits due to a lower number of enrollments for future travel periods.

4 of 8

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,132.70 -81.72 -0.45%
S&P 500 2,104.50 -6.24 -0.30%
NASDAQ 4,963.5270 -24.3630 -0.49%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs