IAC FY 2013 Earnings Report — IAC InterActive Corp. Revenue & Financial Results | Market Cap Arena

IAC InterActive Corp.IAC

FY 2013 Earnings

Reported February 26, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$3.0B	—	$2.8B	—	7.9%
Op. Income	$421M	—	$315M	—	33.7%
Gross Margin	67.7%	—	64.6%	—	3.1pp
Net Margin	9.5%	—	5.7%	—	3.8pp
EPS (Diluted)	$3.37	—	$1.69	—	99.4%
Free Cash Flow	$329M	—	$300M	—	9.6%

Revenue Flow

Item	Amount
REVENUE	$3.0B
Cost of Revenue	$977M
GROSS PROFIT	$2.0B
R&D Expenses	$140M
Selling & Marketing	$964M
General & Administrative	$397M
SG&A Expenses	$1.4B
Other Expenses	$124M
Operating Expenses	$1.6B
Cost & Expenses	$2.6B
OPERATING INCOME	$421M
Interest Income	$0
Interest Expense	$34M
Other Income/Expenses	-$5M
INCOME BEFORE TAX	$416M
Income Tax Expense	$135M
Net Income from Continuing Ops	$286M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$286M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$286M
D&A	$119M
EBIT	$450M
EBITDA	$573M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$3.0B
Cost of Revenue	$977M
GROSS PROFIT	$2.0B
R&D Expenses	$140M
Selling & Marketing	$964M
General & Administrative	$397M
SG&A Expenses	$1.4B
Other Expenses	$124M
Operating Expenses	$1.6B
Cost & Expenses	$2.6B
OPERATING INCOME	$421M
Interest Income	$0
Interest Expense	$34M
Other Income/Expenses	-$5M
INCOME BEFORE TAX	$416M
Income Tax Expense	$135M
Net Income from Continuing Ops	$286M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$286M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$286M
D&A	$119M
EBIT	$450M
EBITDA	$573M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$286M
Depreciation & Amortization	$119M
Stock-Based Compensation	$0
Deferred Income Tax	-$9M
Other Non-Cash Items	-$395M
Change in Working Capital	$356M
OPERATING CASH FLOW	$409M
Capital Expenditure	-$80M
Acquisitions (Net)	-$41M
Purchases of Investments	-$264M
Sales/Maturities of Investments	$13M
Other Investing Activities	$293M
NET CASH FROM INVESTING	-$80M
Net Debt Issuance	$0
Common Stock Repurchased	-$264M
Common Dividends Paid	$0
Other Financing Activities	$18M
NET CASH FROM FINANCING	$18M
FREE CASH FLOW	$329M
Net Change in Cash	$351M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.1B
Short-Term Investments	$6M
Net Receivables	$220M
Inventory	$0
Other Current Assets	$149M
TOTAL CURRENT ASSETS	$1.5B
PP&E (Net)	$294M
Goodwill	$1.7B
Intangible Assets	$445M
Long-Term Investments	$180M
Tax Assets	$321M
Other Non-Current Assets	-$155M
TOTAL NON-CURRENT ASSETS	$2.8B
TOTAL ASSETS	$4.2B
Account Payables	$78M
Short-Term Debt	$16M
Deferred Revenue	$158M
Other Current Liabilities	$335M
TOTAL CURRENT LIABILITIES	$587M
Long-Term Debt	$1.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$321M
Other Non-Current Liabilities	$560M
TOTAL NON-CURRENT LIABILITIES	$2.0B
TOTAL LIABILITIES	$2.5B
Common Stock	$251.0K
Additional Paid-In Capital	$0
Retained Earnings	-$33M
Treasury Stock	$0
Accum. Other Comp. Income	-$13M
Other Equity	$1.7B
TOTAL STOCKHOLDERS' EQUITY	$1.7B
Minority Interest	$0
TOTAL EQUITY	$1.7B
TOTAL LIABILITIES & EQUITY	$4.2B
Total Debt	$1.1B
Net Debt	-$20M