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Table of Contents
IAC/INTERACTIVECORP AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
NOTE 21—QUARTERLY RESULTS (UNAUDITED)
(a) The third quarter of 2011 includes an after-tax loss of $11.7 million related to marking down 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) upon achieving control. The third quarter of
2011 also includes the
106
Quarter Ended
March 31
Quarter Ended
June 30
Quarter Ended
September 30(a)
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(d)
$
0.22
$
0.50
$
0.81
$
0.53
Diluted earnings per share from continuing operations(d)
$
0.21
$
0.46
$
0.73
$
0.48
Basic earnings per share(d)
$
0.20
$
0.47
$
0.77
$
0.58
Diluted earnings per share(d)
$
0.19
$
0.44
$
0.69
$
0.53
Quarter Ended
March 31(b)
Quarter Ended
June 30
Quarter Ended
September 30
Quarter Ended
December 31(c)(e)
(In thousands, except per share data)
Year Ended December 31,
2010
Revenue
$
378,178
$
394,244
$
412,966
$
451,427
Cost of revenue
131,149
140,638
147,933
174,096
Operating income (loss)
8,925
24,633
37,684
(21,447
)
(Loss) earnings from continuing
operations
(14,597
)
15,421
22,440
(32,657
)
(Loss) earnings from
discontinued operations, net
of tax
(4,727
)
(2,586
)
(4,795
)
115,853
Net (loss) earnings
(19,324
)
12,835
17,645
83,196
Net (loss) earnings attributable
to IAC shareholders
(18,705
)
13,591
17,509
86,964
Per share information attributable to IAC shareholders:
Basic (loss) earnings per share
from continuing operations(d)
$
(0.12
)
$
0.15
$
0.22
$
(0.30
)
Diluted (loss) earnings per share
from continuing operations(d)
$
(0.12
)
$
0.14
$
0.21
$
(0.30
)
Basic (loss) earnings per share
(d)
$
(0.16
)
$
0.12
$
0.17
$
(0.90
)
Diluted (loss) earnings per share
(d)
$
(0.16
)
$
0.12
$
0.16
$
(0.90
)