ServiceMagic 2014 Annual Report Download - page 120

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IAC/INTERACTIVECORP AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
NOTE 21—QUARTERLY RESULTS (UNAUDITED)
_______________________________________________________________________________
94
Quarter Ended
March 31
(a)
Quarter Ended
June 30
(a)(b)
Quarter Ended
September 30
(a)(c)
Quarter Ended
December 31
(In thousands, except per share data)
Year Ended December 31, 2014
Revenue
$
740,247
$
756,315
$
782,231
$
830,754
Cost of revenue
209,234
210,730
224,695
238,517
Operating income
71,712
95,690
100,953
110,372
Earnings (loss) from continuing operations
34,305
(17,995
)
150,261
67,986
(Loss) earnings from discontinued operations, net of tax
(814
)
(868
)
175,730
625
Net earnings (loss)
33,491
(18,863
)
325,991
68,611
Net earnings (loss) attributable to IAC shareholders
35,885
(17,996
)
326,812
70,172
Per share information attributable to IAC shareholders:
Basic earnings (loss) per share from continuing operations
(d)
$
0.44
$
(0.21
)
$
1.81
$
0.83
Diluted earnings (loss) per share from continuing operations
(d)
$
0.42
$
(0.21
)
$
1.70
$
0.78
Basic earnings (loss) per share
(d)
$
0.44
$
(0.22
)
$
3.91
$
0.84
Diluted earnings (loss) per share
(d)
$
0.41
$
(0.22
)
$
3.68
$
0.78
Quarter Ended
March 31
(a)
Quarter Ended
June 30
(a)
Quarter Ended
September 30
(a)
Quarter Ended
December 31
(a)
(In thousands, except per share data)
Year Ended December 31, 2013
Revenue
$
742,249
$
799,411
$
756,872
$
724,455
Cost of revenue
257,474
273,938
249,888
222,421
Operating income
84,551
106,696
122,004
112,952
Earnings from continuing operations
52,709
58,540
91,721
78,829
(Loss) earnings from discontinued operations, net of tax
(944
)
(1,068
)
3,914
24
Net earnings
51,765
57,472
95,635
78,853
Net earnings attributable to IAC shareholders
53,637
58,290
96,940
76,917
Per share information attributable to IAC shareholders:
Basic earnings per share from continuing operations
(d)
$
0.65
$
0.71
$
1.12
$
0.93
Diluted earnings per share from continuing operations
(d)
$
0.62
$
0.69
$
1.08
$
0.88
Basic earnings per share
(d)
$
0.64
$
0.70
$
1.17
$
0.93
Diluted earnings per share
(d)
$
0.61
$
0.67
$
1.13
$
0.88
(a)
During the fourth quarter of 2014, certain expenses were reclassified between cost of revenue, selling and marketing expense, general and administrative expense and product
development expense. Accordingly, cost of revenue presented above for periods prior to the fourth quarter of 2014 differs from the amounts reflected in the Company’s
quarterly reports on Form 10-Q for the first, second and third quarters of 2014 and 2013 and for the fourth quarter of 2013 reflected in the Company's annual report on Form
10-K.
(b) The second quarter of 2014 includes an after-tax other-than-temporary impairment charge of $63.6 million related to the write-down of a cost method investment to fair
value.