Online travel company Priceline.com Inc. has increased its third quarter financial guidance.

Published: 21 Sep 2006

Online travel company Priceline.com Inc. has increased its third quarter financial guidance.

“Priceline.com continues to experience solid business momentum, particularly in Europe, where quarter-to-date gross travel bookings growth continues to exceed 100 percent,” said priceline.com president and chief executive officer Jeffery H. Boyd.

“We believe these trends provide a solid foundation for earnings growth for the balance of this year and 2007,” said Boyd.

Priceline.com’s previous guidance, issued on August 7, 2006, called for third quarter 2006 GAAP net income per diluted share of $0.29 to $0.34 and pro forma net income per diluted share of $0.60 to $0.65. The company said it is now targeting third quarter 2006 GAAP net income per diluted share of $0.33 to $0.37 and pro forma net income per diluted share of $0.64 to $0.68.

The company also said that for the fourth quarter 2006 it was targeting GAAP net income per diluted share of $0.09 to $0.15 and pro forma net income per diluted share of $0.32 to $0.38.

Priceline.com said it was targeting full-year 2007 GAAP net income per diluted share of $1.22 to $1.47. In addition, priceline.com announced that it was targeting full-year 2007 pro forma net income per diluted share of $2.15 to $2.40, compared to First Call consensus estimates of $2.05 per share.