Ambassadors reports drop in travelers, profits
Spokane-based educational travel company Ambassadors Group Inc. posted lower earnings in the second quarter as it arranged travel for fewer people.
The company today reported earning $15.2 million in April, May and June, or 78 cents per share. That's down from $19.2 million, or 99 cents per share, int he second quater of 2009.
Ambassadors arranged travel for 13,396 delegates in the quarter, a 16 percent decrease from 15,995 delegates in the same quarter a year ago.
Gross receipts in the quarter were $83.1 million, compared to $99.3 million a year ago. Gross margin for the quarter decreased 14 percent year over year, the company reported.
