IAC/InteractiveCorp on Wednesday swung to a loss for the fourth quarter, due to $218 million in impairment charges.

The e-commerce conglomerate reported a net loss of $46 million, or seven cents a share, for the quarter ended Dec. 31, compared with a profit of $152.7 million, or 22 cents a share, during the same period a year ago. Revenues were up 9 percent from a year ago to $1.7 billion.

The loss was due to a $185 million impairment charge related to goodwill in IAC's Teleservices unit, and a $33 million impairment charge related to certain intangible assets of IAC's TV Travel Shop, the New York company said.

For the full year, net income dropped to $151.8 million from $154.3 million in 2003. Revenues, however, increased 15 percent to $6.2 billion from $5.4 billion a year ago.