|In millions, except per share amounts|
|Three months ended September 30,|
|Content & Media Revenue ex-TAC (1)||$||47.4||$||58.8||24||%|
|Total Revenue ex-TAC (1)||$||78.1||$||92.8||19||%|
|Income (loss) from Operations||$||(3.3||)||$||4.5||NA|
|Adjusted EBITDA (1)||$||21.7||$||27.6||28||%|
|Net income (loss)||$||(4.1||)||$||3.2||NA|
|Adjusted net income (1)||$||5.0||$||9.8||97||%|
|Adjusted EPS (1)||$||0.06||$||0.11||83||%|
|Cash Flow from Operations||$||22.1||$||24.6||12||%|
|Free Cash Flow (1)||$||6.0||$||16.6||177||%|
|(1)||These non-GAAP financial measures are described below and reconciled to their comparable GAAP measures in the accompanying tables. Effective Q1 2012, the Company began reporting Adjusted EBITDA instead of Adjusted OIBDA. Reconciliations for both measures are available on the investor relations section of the Company's website.|
- Content & Media Revenue ex-TAC grew 24% year-over-year, due primarily to strong page view growth on the Company's owned & operated properties, as well as 50% growth in network RPMs, reflecting higher revenue from our growing network of content partners. Sequentially, Content & Media Revenue ex-TAC increased 6% compared to the second quarter of 2012, driven primarily by network RPM growth.
- Registrar revenue grew 11% year-over-year and increased 2% compared to the second quarter of 2012. Revenue growth was driven by an increase in number of domains on our platform, due primarily to growth from new partners.
- Free Cash Flow was $16.6 million compared to $6.0 million a year ago, reflecting growth in cash flow from operations and a year-over-year reduction in intangible asset content spend, primarily on eHow. Sequentially, investment in intangible assets increased 36% compared to the second quarter of 2012.