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Blucora Reports Strong Second Quarter Results

Blucora, Inc. (NASDAQ: BCOR) today announced financial results for the second quarter ended June 30, 2013.

“We are pleased to announce solid results across both of our businesses in the first half of 2013,” said Bill Ruckelshaus, President and Chief Executive Officer of Blucora. “InfoSpace continues to expand its distribution network and drive growth with existing partners. TaxACT recorded market share gains in tax year 2012 with enhanced core offerings and new services complementary to the filing process.”
Summary Financial Performance: 2Q 2013

($ in millions except per share amounts)
      Q2 2013       Q2 2012       Growth
Revenues $ 117.2       $ 100.9       16 %
Search $ 94.5 $ 81.8 16 %
Tax Preparation $ 22.7 $ 19.1 19 %
Adjusted EBITDA $ 29.2 $ 24.5 19 %
Non-GAAP Net Income $ 24.6 $ 21.8 13 %
Non-GAAP Diluted EPS $ 0.58 $ 0.53 9 %
Net Income








-13 %
GAAP Diluted EPS




$ 0.23 -13 %
(1) Includes $2.3 million non-cash loss on derivative instrument.
(2) Includes $0.3 million non-cash gain on derivative instrument.
See reconciliation of non-GAAP to GAAP measures below.

Segment Information


Segment revenue for the second quarter of 2013 reflects strong growth from search distribution and in our owned and operated properties, up 12 percent and 46 percent, respectively, over the second quarter of 2012. Segment income for the second quarter of 2013 was $17.9 million, up 19 percent over the second quarter of 2012.

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