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Home > Fortune 500 Companies > Iac/interactive Corp
Iac/interactive Corp
Iac/interactive Corp is a publicly traded company having a good stock performance result. Iac/interactive Corp is a fortune 500 stock listed company trading under IACI.
IACI delivered record results in Q4, with strong growth from most of the company’s established and earlier stage businesses, as well as contributions from recently acquired businesses. Operating Income before Amortization margins increased by 200 basis points in Q4 versus the prior year period.
IACI generated 702 million dollars in Free Cash Flow during 2005, while net cash used in operating activities attributable to continuing operations of 72 million dollar was adversely impacted primarily by tax payments related to the sale of their interests in VUE of 863 million dollars, which is excluded from Free Cash Flow.
IACI repurchased 15.2 million shares of its common stock between October 1, 2005 and January 5, 2006, at an average price of 26.48 dollars, completing its prior authorization. IACI also announced that its Board of Directors authorized IACI to repurchase up to an additional 42 million shares of common stock. The comparison of Q4 and full year operating income and net income with the prior year period is affected by a goodwill impairment charge
Personals revenue growth was driven by a 21 percent increase in worldwide paid subscribers and higher package prices implemented in early 2005. International paid subscribers grew by 14 percent due to development in several markets, most notably Scandinavia, the United Kingdom and Latin America. Revenue and profit growth benefited from the increased marketing spending in the first half of 2005 relative to the first half of 2004.
The comparison of Q4 other income is adversely impacted by 13.2 million dollars in foreign exchange gains in the prior year period, lower interest income due to IACI’s sale of its interests in VUE in June 2005, and a 4.8 million dollars loss in Q4 2005 reflecting changes in the fair value of the derivatives that were created in the Expedia spin-off. The derivatives relate to IACI’s obligation to deliver both IACI and Expedia shares upon the conversion of the Ask Jeeves notes and the exercise of certain IACI warrants.
IACI operates leading and diversified businesses in sectors being transformed by the internet, online and offline. Their mission is to harness the power of interactivity to make daily life easier and more productive for people all over the world.
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