ServiceMagic 2011 Annual Report Download - page 59

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IAC/INTERACTIVECORP AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF OPERATIONS
The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.
56
Years Ended December 31,
2011
2010
2009
(In thousands, except per share data)
Revenue
$
2,059,444
$
1,636,815
$
1,346,695
Costs and expenses:
Cost of revenue (exclusive of depreciation shown
separately below)
761,244
593,816
429,849
Selling and marketing expense
614,174
492,206
463,439
General and administrative expense
328,728
316,500
282,393
Product development expense
78,760
65,097
57,843
Depreciation
56,719
63,897
61,391
Amortization of intangibles
22,057
27,472
157,031
Amortization of non
-
cash marketing
—
—
15,868
Goodwill impairment
—
28,032
916,868
Total costs and expenses
1,861,682
1,587,020
2,384,682
Operating income (loss)
197,762
49,795
(1,037,987
)
Equity in losses of unconsolidated affiliates
(36,300
)
(25,676
)
(14,014
)
Other income (expense), net
10,060
(1,433
)
105,002
Earnings (loss) from continuing operations before
income taxes
171,522
22,686
(946,999
)
Income tax benefit (provision)
4,047
(32,079
)
(9,474
)
Earnings (loss) from continuing operations
175,569
(9,393
)
(956,473
)
Gain on Liberty Exchange
—
140,768
—
Loss from discontinued operations, net of tax
(3,992
)
(37,023
)
(23,439
)
Net earnings (loss)
171,577
94,352
(979,912
)
Net loss attributable to noncontrolling interests
2,656
5,007
1,090
Net earnings (loss) attributable to IAC shareholders
$
174,233
$
99,359
$
(978,822
)
Per share information attributable to IAC
shareholders:
Basic earnings (loss) per share from continuing
operations
$
2.05
$
(0.04
)
$
(6.89
)
Diluted earnings (loss) per share from continuing
operations
$
1.89
$
(0.04
)
$
(6.89
)
Basic earnings (loss) per share
$
2.01
$
0.93
$
(7.06
)
Diluted earnings (loss) per share
$
1.85
$
0.93
$
(7.06
)
Non
cash compensation expense by function:
Cost of revenue
$
5,359
$
4,510
$
3,137
Selling and marketing expense
4,807
4,228
3,191
General and administrative expense
70,894
69,082
58,905
Product development expense
7,528
6,460
4,848
Total non
-
cash compensation expense
$
88,588
$
84,280
$
70,081