TNLTravel + Leisure Co.

$4B

FY 2008 Earnings

Consumer Cyclical Travel Services

Income Statement

Revenue

$4.3B-1.8% YoY

Gross Profit

$2.3B52.6% margin

Operating Income

-$830M-19.4% margin

Net Income

-$1.1B-25.1% margin

EPS (Diluted)

$-6.03

Cash Flow

Operating Cash Flow

$109M

Free Cash Flow

-$78M

Stock-Based Comp.

$35M

Balance Sheet

Total Assets

$9.6B

Total Liabilities

$7.2B

Stockholders' Equity

$2.3B

Cash & Equivalents

$136M

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$4.3B	$4.4B	-1.8%
Gross Profit	$2.3B	$2.2B	+0.4%
Operating Income	-$830M	$710M	-216.9%
Net Income	-$1.1B	$403M	-366.5%

TNL FY 2008 Earnings — Travel + Leisure Co. Revenue & Financial Results | Market Cap Arena