IAC Reports Q3 Results IAC declares quarterly cash dividend of $0.12 per share


Core(1) revenue increased 15% to $102.5 million driven by increases in subscribers. Developing(2) revenue increased 8% to $18.7 million primarily due to revenue from OkCupid, which was not in the year ago period, partially offset by lower subscription revenue from Singlesnet as we continued to reduce the marketing of this service. Core and Developing revenue collectively increased by 14% to $121.2 million. Meetic(3), consolidated beginning September 1, 2011, had revenue of $11.1 million which was negatively impacted by the write-off of $9.6 million of deferred revenue in connection with its acquisition.

Operating Income Before Amortization, excluding Meetic’s results and the associated $2.5 million in transaction fees, increased by 16% to $45.8 million. Operating Income Before Amortization was favorably impacted by higher revenue and lower customer acquisition costs as a percentage of revenue, partially offset by higher operating expense as a percentage of revenue. Losses at Meetic were the result of the write-off of $9.6 million of deferred revenue. Operating income in 2011 reflects an increase of $1.9 million in amortization of intangibles and $0.4 million in non-cash compensation expense, both due to the Meetic acquisition.

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