IAC FY 2014 Earnings Report — IAC InterActive Corp. Revenue & Financial Results | Market Cap Arena

IAC InterActive Corp.IAC

FY 2014 Earnings

Reported February 27, 2015

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2014	Prior Q	FY 2013	QoQ Change	YoY Change
Revenue	$3.1B	—	$3.0B	—	2.9%
Op. Income	$312M	—	$421M	—	-25.8%
Gross Margin	72.3%	—	67.7%	—	4.7pp
Net Margin	13.3%	—	9.5%	—	3.9pp
EPS (Diluted)	$4.65	—	$3.37	—	38.0%
Free Cash Flow	$367M	—	$329M	—	11.5%

Revenue Flow

Item	Amount
REVENUE	$3.1B
Cost of Revenue	$860M
GROSS PROFIT	$2.2B
R&D Expenses	$161M
Selling & Marketing	$1.1B
General & Administrative	$467M
SG&A Expenses	$1.6B
Other Expenses	$186M
Operating Expenses	$1.9B
Cost & Expenses	$2.8B
OPERATING INCOME	$312M
Interest Income	$0
Interest Expense	$56M
Other Income/Expenses	-$42M
INCOME BEFORE TAX	$270M
Income Tax Expense	$35M
Net Income from Continuing Ops	$415M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$415M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$415M
D&A	$119M
EBIT	$326M
EBITDA	$626M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$3.1B
Cost of Revenue	$860M
GROSS PROFIT	$2.2B
R&D Expenses	$161M
Selling & Marketing	$1.1B
General & Administrative	$467M
SG&A Expenses	$1.6B
Other Expenses	$186M
Operating Expenses	$1.9B
Cost & Expenses	$2.8B
OPERATING INCOME	$312M
Interest Income	$0
Interest Expense	$56M
Other Income/Expenses	-$42M
INCOME BEFORE TAX	$270M
Income Tax Expense	$35M
Net Income from Continuing Ops	$415M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$415M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$415M
D&A	$119M
EBIT	$326M
EBITDA	$626M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$415M
Depreciation & Amortization	$119M
Stock-Based Compensation	$0
Deferred Income Tax	$77M
Other Non-Cash Items	-$221M
Change in Working Capital	-$26M
OPERATING CASH FLOW	$424M
Capital Expenditure	-$57M
Acquisitions (Net)	-$259M
Purchases of Investments	-$176M
Sales/Maturities of Investments	$22M
Other Investing Activities	$31M
NET CASH FROM INVESTING	-$440M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$81M
NET CASH FROM FINANCING	-$81M
FREE CASH FLOW	$367M
Net Change in Cash	-$110M

Balance Sheet

Item	Amount
Cash & Equivalents	$990M
Short-Term Investments	$161M
Net Receivables	$241M
Inventory	$0
Other Current Assets	$144M
TOTAL CURRENT ASSETS	$1.5B
PP&E (Net)	$302M
Goodwill	$1.8B
Intangible Assets	$492M
Long-Term Investments	$115M
Tax Assets	$392M
Other Non-Current Assets	-$335M
TOTAL NON-CURRENT ASSETS	$2.7B
TOTAL ASSETS	$4.3B
Account Payables	$81M
Short-Term Debt	$41M
Deferred Revenue	$195M
Other Current Liabilities	$357M
TOTAL CURRENT LIABILITIES	$674M
Long-Term Debt	$1.1B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$410M
Other Non-Current Liabilities	$101M
TOTAL NON-CURRENT LIABILITIES	$1.6B
TOTAL LIABILITIES	$2.3B
Common Stock	$252.0K
Additional Paid-In Capital	$0
Retained Earnings	$325M
Treasury Stock	$0
Accum. Other Comp. Income	-$88M
Other Equity	$1.8B
TOTAL STOCKHOLDERS' EQUITY	$2.0B
Minority Interest	$0
TOTAL EQUITY	$2.0B
TOTAL LIABILITIES & EQUITY	$4.3B
Total Debt	$1.1B
Net Debt	$90M