This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Blucora Announces Fourth Quarter And Full Year 2012 Results

Stocks in this article: BCOR

Blucora, Inc. (NASDAQ: BCOR) today announced financial results for the fourth quarter and full year ended December 31, 2012.

“The success of online search and tax preparation led Blucora to strong results for fiscal year 2012,” said Bill Ruckelshaus, President and Chief Executive Officer of Blucora. “We are pleased with our performance in both businesses in the fourth quarter and full year 2012. TaxACT entered the current tax season with momentum, driven by core product enhancements, content support improvements, and marketing programs aimed at increasing consumer awareness.”

Highlights

  • Fourth quarter revenue and Adjusted EBITDA grew 46% and 19% respectively, over the prior year
  • Full year revenue and Adjusted EBITDA grew 78% and 120% respectively, year over year
  • Full year search segment income grew 35% over the prior year
  • Blucora Board of Directors approved a $50 million share repurchase program
 
Summary Financial Performance: 4Q and Full Year 2012

($ in millions except per share amounts)

Q4 2012   Q4 2011   Growth   FY 2012   FY 2011   Growth
Revenue $ 97.5   $ 66.6   46 %   $ 406.9   $ 228.8   78 %
Search $ 96.3 $ 66.6 45 % $ 344.8 $ 228.8 51 %
Tax Preparation $ 1.2 N/A N/A $ 62.1 N/A N/A
 
Adjusted EBITDA $ 12.1 $ 10.2 19 % $ 80.4 $ 36.6 120 %
Non-GAAP Net Income $ 10.0 $ 6.9 45 % $ 70.8 $ 28.8 146 %
Non-GAAP Diluted EPS $ 0.24 $ 0.17 41 % $ 1.70 $ 0.74 130 %
 
Net Income $ 3.8 $

22.9

(2)

-83 % $ 22.5 $

21.6

(2)

4 %
GAAP Diluted Income Per Share $

0.04

(1)

$

0.57

(2)

-92 % $ 0.54 $

0.56

(2)

-4 %
 

(1) Excludes a $1.9 million non-cash gain on derivative instrument

(2) Includes a $18.9 million income tax benefit due to the reversal of the valuation allowance on deferred tax assets

 

See reconciliation of non-GAAP to GAAP measures below.

           
 

Segment Information

Search

Search revenue for the fourth quarter and full year 2012 reflects strong growth from search distribution, up 52 percent and 67 percent over the fourth quarter and full year 2011, respectively. Search segment income for the fourth quarter and full year 2012 was $17.4 million and $62.2 million, up 36 percent and 35 percent over the fourth quarter and full year 2011, respectively.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,756.83 -21.32 -0.12%
S&P 500 2,063.73 +2.50 0.12%
NASDAQ 4,752.76 +4.3640 0.09%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs