Highlights from Priceline's Q4 Earnings Conference Call

Below are some highlights from Priceline's

PCLN

fourth-quarter earnings conference call:

Effective offline advertising campaign experiment. Will look continue offline advertising in the future.
- $220-240 million in offline advertising expected in ‘14.
For first time in 2013 Booking.com largest U.S. reservation destination.
Booking.com had 1 billion in mobile sales in ‘12, that number increased x3 in ‘13.
More regular types of bookings on mobile devices versus last minute bookings.
Good handle on ROI of mobile downloads; don't want to chase download numbers.
Working to connect screens when transferring between mobile devices.

27% gross booking growth for US Priceline.com.

Better than forecasted operating margins.

Operating margins affected by Booking.com TV campaign and offline advertising.

Continued pressure on ROI, but lesser in Q4 versus previous quarters.

Spent 27 million on Capex in Q4.

$420-440 million adjusted EBITDA expected.

Expecting US gross bookings 15-20% growth

Currency exchange rates had negative effect in ‘13.

Gross profit growth will be affected by Easter.

Forecasting declaration in gross profit line.

Vacation rentals are a natural expansion into booking.com

Thailand market not a major concern for global business.

Q4 and Q1 peak season for South America and Asia Pacific.

Focusing on organic growth will remain top priority.

Increased pace of innovation as landscape evolves.

No intention to make kayak a Priceline.com only marketplace

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Don't naturally do a lot of couponing. Prefers to be an everyday low price option for consumers.