Booking (BKNG) 8-K Other events

Exhibit 99.1

priceline.com Incorporated

CONSOLIDATED BALANCE SHEETS

(In thousands, unaudited)

	December 31, 2003			December 31, 2002
ASSETS
Current assets:
Cash and cash equivalents	$	93,732		$	67,182
Restricted cash	22,485			18,248
Short-term investments	151,736			64,154
Accounts receivable, net of allowance for doubtful accounts of $794 and $1,262 at December 31, 2003 and 2002, respectively	10,782			13,636
Prepaid expenses and other current assets	4,778			6,348
Total current assets	283,513			169,568
Property and equipment, net	16,524			21,413
Intangible assets, net	7,053			1,694
Goodwill	8,779			10,517
Other assets, principally equity investments in pricelinemortgage, and at December 31, 2003, Travelweb LLC	21,915			7,970
Total assets	$	337,784		$	211,162
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	25,061		$	35,375
Accrued expenses	21,031			27,889
Other current liabilities	3,522			2,063
Total current liabilities	49,614			65,327
Long-term accrued expenses	532			715
Other long-term liabilities	537
Long-term debt	124,524			—
Total liabilities	175,207			66,042
SERIES B MANDATORILY REDEEMABLE PREFERRED STOCK	13,470			13,470
Stockholders’ equity
Common stock	306			1,884
Treasury stock	(350,628		)	(338,410		)
Additional paid-in capital	2,055,607			2,033,944
Deferred compensation	(1,408		)	—
Accumulated deficit	(1,555,444		)	(1,565,869		)
Accumulated other comprehensive income	674			101
Total stockholders’ equity	149,107			131,650
Total liabilities and stockholders’ equity	$	337,784		$	211,162

priceline.com Incorporated

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data, unaudited)

	Three Months Ended						Twelve Months Ended
	December 31, 2003			December 31, 2002			December 31, 2003			December 31, 2002
Merchant revenues	$	176,319		$	195,814		$	852,454		$	996,112
Agency revenues	3,178			131			7,554			720
Other revenues	670			1,356			3,653			6,774
Total revenues	180,167			197,301			863,661			1,003,606
Cost of merchant revenues	148,351			166,710			717,716			844,142
Cost of agency revenues	—			—			—			—
Cost of other revenues	—			107			—			1,098
Total costs of revenues	148,351			166,817			717,716			845,240
Gross profit	$	31,816		$	30,484		$	145,945		$	158,366
Operating expenses:
Advertising	10,092			10,011			42,248			44,664
Sales and marketing	4,908			5,310			26,803			32,699
Personnel	7,180			7,493			29,680			32,045
General and administrative, including option payroll taxes	3,256			3,187			12,031			13,298
Information technology	2,049			3,142			8,898			12,008
Depreciation and amortization	2,324			4,466			11,533			18,264
Stock based compensation	106			250			282			1,000
Special charge (reversal)	—			—			—			(200		)
Restructuring charge (reversal)	(49		)	4,654			(186		)	3,738
Severance charge (reversal)	—			—			—			(55		)
Impairment charge	—			—			—			24,229
Warrant costs	—			—			6,638			—
Total operating expenses	$	29,866		$	38,513		$	137,927		$	181,690
Operating income (loss)	$	1,950		$	(8,029	)	$	8,018		$	(23,324	)
Other income:
Interest income	1,004			647			2,474			2,911
Interest expense	(563		)	(30		)	(907		)	(68		)
Equity in income of investees, net	(163		)	—			2,331			1,131
Other	—			1			—			166
Total other income	$	278		$	618		$	3,898		$	4,140
Net income (loss)	2,228			(7,411		)	11,916			(19,184		)
Preferred stock dividend				—			(1,491		)	(2,344		)
Net income (loss) applicable to common stockholders	$	2,228		$	(7,411	)	$	10,425		$	(21,528	)
Net income (loss) applicable to common stockholders per basic common share	$	0.06		$	(0.20	)	$	0.28		$	(0.57	)
Weighted average number of basic common shares outstanding	38,019			37,452			37,804			37,881
Net income (loss) applicable to common stockholders per diluted common share	$	0.06		$	(0.20	)	$	0.27		$	(0.57	)
Weighted average number of diluted common shares outstanding	40,107			37,452			39,009			37,881