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Intersections Inc. Reports Fourth Quarter And Full Year 2011 Earnings; Record Revenue In 2011 Of $373.0 Million

Stocks in this article: INTX

Intersections Inc. (NASDAQ: INTX) today announced financial results for the quarter and year ended December 31, 2011. Revenue for the year ended December 31, 2011 was $373.0 million, as compared to $364.1 million for the year ended December 31, 2010. Consolidated adjusted EBITDA from continuing operations before share related compensation for the year ended December 31, 2011 was $52.1 million, compared to $47.4 million for the year ended December 31, 2010. In the year ended December 31, 2011, we recorded an estimated $2.3 million of severance and severance related costs, which is included in our consolidated adjusted EBITDA from continuing operations. Income from continuing operations for the year ended December 31, 2011 was $18.6 million, as compared to $14.9 million for the year ended December 31, 2010. Cash flow provided by operations for the year ended December 31, 2011 was $35.5 million. Diluted earnings per share from continuing operations increased approximately 20% to $0.97 for the year ended December 31, 2011, from $0.81 for the year ended December 31, 2010.

As of December 31, 2011, we had a cash balance of $30.8 million. In January 2012, we paid down $10.0 million on our revolving credit facility, thereby reducing the outstanding amount due to a total of $10.0 million. The revolving credit facility, as amended in December 2011, has a maturity date of December 31, 2012 and we have a total of $15.0 million available under this facility.

In addition, on March 9, 2012, we paid an ordinary cash dividend of $0.20 per share of common stock. This represents a dividend yield of approximately 6.4% based upon our closing share price yesterday of $12.49.

Michael Stanfield, Chairman and Chief Executive Officer of Intersections commented, “Intersections delivered another solid performance in 2011. We increased adjusted Income from Operations by over 17 percent to $31.0 million and generated more than $35 million in cash flow from operations. We also returned more than $31.7 million to shareholders in 2011 through dividends and share repurchases. These results demonstrate the strong foundation of our core Consumer Products and Services segment and our dedication to deliver shareholder value.”

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