IAC FY 2010 Earnings Report — IAC InterActive Corp. Revenue & Financial Results | Market Cap Arena

IAC InterActive Corp.IAC

FY 2010 Earnings

Reported March 1, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$1.6B	—	$1.3B	—	21.5%
Op. Income	$42M	—	-$1.1B	—	103.8%
Gross Margin	63.7%	—	68.1%	—	-4.4pp
Net Margin	6.1%	—	-72.7%	—	78.8pp
EPS (Diluted)	$1.05	—	$-6.97	—	115.1%
Free Cash Flow	$293M	—	$290M	—	1.2%

Revenue Flow

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$594M
GROSS PROFIT	$1.0B
R&D Expenses	$65M
Selling & Marketing	$492M
General & Administrative	$316M
SG&A Expenses	$809M
Other Expenses	$127M
Operating Expenses	$1.0B
Cost & Expenses	$1.6B
OPERATING INCOME	$42M
Interest Income	$0
Interest Expense	$5M
Other Income/Expenses	-$19M
INCOME BEFORE TAX	$23M
Income Tax Expense	$32M
Net Income from Continuing Ops	$99M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$99M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$99M
D&A	$91M
EBIT	$28M
EBITDA	$228M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.6B
Cost of Revenue	$594M
GROSS PROFIT	$1.0B
R&D Expenses	$65M
Selling & Marketing	$492M
General & Administrative	$316M
SG&A Expenses	$809M
Other Expenses	$127M
Operating Expenses	$1.0B
Cost & Expenses	$1.6B
OPERATING INCOME	$42M
Interest Income	$0
Interest Expense	$5M
Other Income/Expenses	-$19M
INCOME BEFORE TAX	$23M
Income Tax Expense	$32M
Net Income from Continuing Ops	$99M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$99M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$99M
D&A	$91M
EBIT	$28M
EBITDA	$228M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$99M
Depreciation & Amortization	$91M
Stock-Based Compensation	$0
Deferred Income Tax	-$6M
Other Non-Cash Items	$587M
Change in Working Capital	-$523M
OPERATING CASH FLOW	$333M
Capital Expenditure	-$40M
Acquisitions (Net)	-$17M
Purchases of Investments	-$540M
Sales/Maturities of Investments	$763M
Other Investing Activities	-$285M
NET CASH FROM INVESTING	-$118M
Net Debt Issuance	$0
Common Stock Repurchased	-$540M
Common Dividends Paid	$0
Other Financing Activities	-$717M
NET CASH FROM FINANCING	-$717M
FREE CASH FLOW	$293M
Net Change in Cash	-$504M

Balance Sheet

Item	Amount
Cash & Equivalents	$742M
Short-Term Investments	$564M
Net Receivables	$139M
Inventory	$0
Other Current Assets	$99M
TOTAL CURRENT ASSETS	$1.5B
PP&E (Net)	$268M
Goodwill	$989M
Intangible Assets	$245M
Long-Term Investments	$201M
Tax Assets	$271M
Other Non-Current Assets	-$189M
TOTAL NON-CURRENT ASSETS	$1.8B
TOTAL ASSETS	$3.3B
Account Payables	$56M
Short-Term Debt	$476M
Deferred Revenue	$78M
Other Current Liabilities	-$253M
TOTAL CURRENT LIABILITIES	$357M
Long-Term Debt	$96M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$271M
Other Non-Current Liabilities	$555M
TOTAL NON-CURRENT LIABILITIES	$922M
TOTAL LIABILITIES	$1.3B
Common Stock	$226.0K
Additional Paid-In Capital	$0
Retained Earnings	-$652M
Treasury Stock	$0
Accum. Other Comp. Income	$18M
Other Equity	$2.7B
TOTAL STOCKHOLDERS' EQUITY	$2.0B
Minority Interest	$0
TOTAL EQUITY	$2.0B
TOTAL LIABILITIES & EQUITY	$3.3B
Total Debt	$96M
Net Debt	-$646M