Interval Leisure Group (Nasdaq: IILG) ("ILG") today announced results for the three months ended March 31, 2012.
FIRST QUARTER 2012 HIGHLIGHTS
- Earnings per share of $0.27 vs. $0.23 in the prior year.
- ILG consolidated revenue increased by 8.3% year over year.
- Membership and Exchange segment revenue increased 4.6%
- Management and Rental segment revenue is up 25.7%. Excluding pass-through revenue, Management and Rental segment revenue is up 39.3%.
- Total active Interval Network members increased by 1.5%.
- Average revenue per member increased by 4.4%.
- Adjusted EBITDA increased by 7.8%.
- Free cash flow was $34.5 million, an increase of $8.0 million or 30.3%.
"Interval Leisure Group started 2012 with success at every level. ILG's consolidated revenue increased by 8.3%, which was driven by an improvement of 4.6% in Membership and Exchange and 25.7% in Management and Rental. This incremental topline growth reflects a meaningful contribution from Interval International’s new products and services, strong results at Aston and Trading Places and the addition of Vacation Resorts International, our most recent acquisition. Average revenue per Interval Network member is at a five-year high, while Platinum membership and Club Interval Gold products are being adopted by our developer clients at an impressive rate," said Craig M. Nash, Chairman, President and Chief Executive Officer of Interval Leisure Group. "The shared ownership industry is seeing signs of renewed optimism as new capital returns to the market and the number of tours by prospective buyers is increasing."
Financial Summary & Operating Metrics (in millions, except per share amounts and percentages)
Three Months Ended March 31,
Quarter Over Quarter Change
|Membership and Exchange revenue||$100.9||$96.4||4.6%|
|Management and Rental revenue||$25.8||$20.6||25.7%|
|Net income attributable to common stockholders||$15.2||$13.2||15.4%|
|Balance sheet data||March 31, 2012||December 31, 2011|
|Cash and cash equivalents||$179.9||$195.5|
| Three Months Ended
|Cash flow data||2012||2011|
|Net cash provided by operating activities||$37.6||$29.4||27.9%|
|Free cash flow*||$34.5||$26.5||30.3%|