UPDATE 1-Travelzoo profit rises as newsletter subscriptions go up

* Q2 EPS $0.45 vs last yr $0.30

* Q2 revenue up 5 pct at $39.4 mln

* Shares up 8 pct premarket

July 19 (Reuters) - Online travel-deals company Travelzoo Inc reported a higher quarterly profit as new subscriptions for its local deals e-mail newsletters rose.

Shares of the company were up 8 percent in premarket trade on Thursday. They closed at $21.73 on Wednesday on the Nasdaq.

The company, which offers travel deals on flights, hotels, vacation packages and cruises, said subscriptions rose 6 percent to 22.1 million in the second quarter.

Travelzoo, which competes with Expedia Inc, Priceline.com Inc and Groupon Inc, said net income rose to $7.3 million, or 45 cents per share, from $4.9 million, or 30 cents per share, a year earlier.

Revenue rose 5 percent to $39.4 million.

The stock has lost one-fifth of its value since the company reported lower-than-expected revenue last quarter.