ServiceMagic 2012 Annual Report Download - page 112

IAC/INTERACTIVECORP AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
NOTE 21—QUARTERLY RESULTS (UNAUDITED)
_______________________________________________________________________________
82
Quarter Ended
March 31
Quarter Ended
June 30
(a)
Quarter Ended
September 30
Quarter Ended
December 31
(In thousands, except per share data)
Year Ended December 31, 2012
Revenue
$
640,600
$
680,612
$
714,470
$
765,251
Cost of revenue
223,571
236,690
261,932
270,277
Operating income
62,765
97,476
78,033
85,294
Earnings from continuing operations
31,153
48,101
46,185
44,408
Earnings (loss) from discontinued operations, net of tax
3,684
(4,641
)
(5,624
)
(2,470
)
Net earnings
34,837
43,460
40,561
41,938
Net earnings attributable to IAC shareholders
34,478
43,332
40,717
40,739
Per share information attributable to IAC shareholders:
Basic earnings per share from continuing operations
(c)
$
0.37
$
0.56
$
0.52
$
0.49
Diluted earnings per share from continuing operations
(c)
$
0.34
$
0.52
$
0.49
$
0.46
Basic earnings per share
(c)
$
0.42
$
0.50
$
0.46
$
0.46
Diluted earnings per share
(c)
$
0.38
$
0.47
$
0.43
$
0.43
Quarter Ended
March 31
Quarter Ended
June 30
Quarter Ended
September 30
(b)
Quarter Ended
December 31
(In thousands, except per share data)
Year Ended December 31, 2011
Revenue
$
460,213
$
485,404
$
516,884
$
596,943
Cost of revenue
172,718
181,472
188,642
218,412
Operating income
37,336
58,231
46,740
55,455
Earnings from continuing operations
20,168
45,630
67,973
41,798
(Loss) earnings from discontinued operations, net of tax
(1,948
)
(2,488
)
(3,922
)
4,366
Net earnings
18,220
43,142
64,051
46,164
Net earnings attributable to IAC shareholders
18,070
42,424
64,973
48,766
Per share information attributable to IAC shareholders:
Basic earnings per share from continuing operations
(c)
$
0.22
$
0.50
$
0.81
$
0.53
Diluted earnings per share from continuing operations
(c)
$
0.21
$
0.46
$
0.73
$
0.48
Basic earnings per share
(c)
$
0.20
$
0.47
$
0.77
$
0.58
Diluted earnings per share
(c)
$
0.19
$
0.44
$
0.69
$
0.53
(a) The second quarter of 2012 includes an after-tax non-cash charge of $16.2 million related to the re-measurement of the carrying value of our equity method investment in
News_Beast to fair value in connection with our acquisition of a controlling interest in June 2012.
(b) The third quarter of 2011 includes an after-tax non-cash charge of $11.7 million related to the re-measurement of the carrying value of Match's 27% equity method
investment in Meetic to fair value (i.e., the tender offer price of €15.00 per share) in connection with our acquisition of a controlling interest. The third quarter of 2011
also includes the reversal of a previously established deferred tax liability of $43.6 million in connection with the acquisition of Meetic.
(c)
Quarterly per share amounts may not add to the related annual per share amount because of differences in the average common shares outstanding during each period.