IAC FY 2011 Earnings Report — IAC InterActive Corp. Revenue & Financial Results | Market Cap Arena

IAC InterActive Corp.IAC

FY 2011 Earnings

Reported February 29, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$2.1B	—	$1.6B	—	25.8%
Op. Income	$198M	—	$42M	—	371.0%
Gross Margin	63.0%	—	63.7%	—	-0.7pp
Net Margin	8.5%	—	6.1%	—	2.4pp
EPS (Diluted)	$1.87	—	$1.05	—	78.1%
Free Cash Flow	$324M	—	$293M	—	10.5%

Revenue Flow

Item	Amount
REVENUE	$2.1B
Cost of Revenue	$761M
GROSS PROFIT	$1.3B
R&D Expenses	$79M
Selling & Marketing	$614M
General & Administrative	$329M
SG&A Expenses	$943M
Other Expenses	$79M
Operating Expenses	$1.1B
Cost & Expenses	$1.9B
OPERATING INCOME	$198M
Interest Income	$0
Interest Expense	$5M
Other Income/Expenses	-$26M
INCOME BEFORE TAX	$172M
Income Tax Expense	-$4M
Net Income from Continuing Ops	$174M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$174M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$174M
D&A	$79M
EBIT	$177M
EBITDA	$254M
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.1B
Cost of Revenue	$761M
GROSS PROFIT	$1.3B
R&D Expenses	$79M
Selling & Marketing	$614M
General & Administrative	$329M
SG&A Expenses	$943M
Other Expenses	$79M
Operating Expenses	$1.1B
Cost & Expenses	$1.9B
OPERATING INCOME	$198M
Interest Income	$0
Interest Expense	$5M
Other Income/Expenses	-$26M
INCOME BEFORE TAX	$172M
Income Tax Expense	-$4M
Net Income from Continuing Ops	$174M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$174M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$174M
D&A	$79M
EBIT	$177M
EBITDA	$254M
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$174M
Depreciation & Amortization	$79M
Stock-Based Compensation	$0
Deferred Income Tax	-$36M
Other Non-Cash Items	$620M
Change in Working Capital	-$562M
OPERATING CASH FLOW	$364M
Capital Expenditure	-$40M
Acquisitions (Net)	-$278M
Purchases of Investments	-$712M
Sales/Maturities of Investments	$585M
Other Investing Activities	$420M
NET CASH FROM INVESTING	-$25M
Net Debt Issuance	$0
Common Stock Repurchased	-$508M
Common Dividends Paid	$0
Other Financing Activities	-$372M
NET CASH FROM FINANCING	-$372M
FREE CASH FLOW	$324M
Net Change in Cash	-$38M

Balance Sheet

Item	Amount
Cash & Equivalents	$704M
Short-Term Investments	$166M
Net Receivables	$185M
Inventory	$0
Other Current Assets	$104M
TOTAL CURRENT ASSETS	$1.2B
PP&E (Net)	$260M
Goodwill	$1.4B
Intangible Assets	$378M
Long-Term Investments	$174M
Tax Assets	$302M
Other Non-Current Assets	-$222M
TOTAL NON-CURRENT ASSETS	$2.3B
TOTAL ASSETS	$3.4B
Account Payables	$64M
Short-Term Debt	$352M
Deferred Revenue	$126M
Other Current Liabilities	-$8M
TOTAL CURRENT LIABILITIES	$534M
Long-Term Debt	$96M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$302M
Other Non-Current Liabilities	$573M
TOTAL NON-CURRENT LIABILITIES	$971M
TOTAL LIABILITIES	$1.5B
Common Stock	$234.0K
Additional Paid-In Capital	$0
Retained Earnings	-$478M
Treasury Stock	$0
Accum. Other Comp. Income	-$12M
Other Equity	$2.4B
TOTAL STOCKHOLDERS' EQUITY	$1.9B
Minority Interest	$0
TOTAL EQUITY	$1.9B
TOTAL LIABILITIES & EQUITY	$3.4B
Total Debt	$96M
Net Debt	-$608M