| |
|
Ebix, Inc. and Subsidiaries
Consolidated Balance
Sheets
(In thousands, except
share amounts) |
| |
|
|
|
|
|
June 30, 2009
|
|
December 31,
2008 |
| |
(Unaudited) |
|
|
|
ASSETS |
|
|
|
|
Current assets: |
|
|
|
|
Cash and cash equivalents |
$ |
11,876 |
|
|
$ |
9,475 |
|
|
Short-term investments |
|
3,154 |
|
|
|
1,536 |
|
|
Accounts receivable, less allowance of $548 and $453,
respectively |
|
16,394 |
|
|
|
13,562 |
|
|
Other current assets |
|
1,558 |
|
|
|
951 |
|
|
Total current assets |
|
32,982 |
|
|
|
25,524 |
|
| |
|
|
|
|
Property and equipment, net |
|
4,668 |
|
|
|
3,774 |
|
|
Goodwill |
|
102,251 |
|
|
|
88,488 |
|
|
Indefinite-lived intangibles |
|
13,637 |
|
|
|
11,589 |
|
|
Other intangible assets, net |
|
11,014 |
|
|
|
10,235 |
|
|
Other assets |
|
636 |
|
|
|
1,557 |
|
| |
|
|
|
|
Total assets |
$ |
165,188 |
|
|
$ |
141,167 |
|
| |
|
|
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
Current liabilities: |
|
|
|
|
Accounts payable and accrued expenses |
$ |
3,766 |
|
|
$ |
8,245 |
|
|
Accrued payroll and related benefits |
|
2,353 |
|
|
|
2,709 |
|
|
Short term debt |
|
24,945 |
|
|
|
24,945 |
|
|
Current portion of convertible debt |
|
5,306 |
|
|
|
11,518 |
|
|
Current portion of long term debt and capital lease obligations
|
|
212 |
|
|
|
912 |
|
|
Deferred revenue |
|
7,671 |
|
|
|
5,383 |
|
|
Other current liabilities |
|
212 |
|
|
|
142 |
|
| |
|
|
|
|
Total current liabilities |
|
44,465 |
|
|
|
53,854 |
|
| |
|
|
|
|
Convertible debt |
|
15,000 |
|
|
|
15,000 |
|
|
Long term debt and capital lease obligation, less current
portion |
|
419 |
|
|
|
290 |
|
|
Other liabilities |
|
2,708 |
|
|
|
941 |
|
|
Deferred revenue |
|
96 |
|
|
|
330 |
|
|
Deferred rent |
|
730 |
|
|
|
610 |
|
| |
|
|
|
|
Total liabilities |
|
63,4185 |
|
|
|
71,025 |
|
| |
|
|
|
|
Commitments and Contingencies, Note 9 |
|
|
|
| |
|
|
|
|
Stockholders’ equity: |
|
|
|
Convertible Series D Preferred stock,
$.10 par value, 500,000 shares authorized,
no shares issued and outstanding |
|
— |
|
|
|
— |
|
|
Common stock, $.10 par value,
20,000,000 shares authorized,
10,331,872 issued and
10,318,369 outstanding at June 30, 2009 and
10,006,455 issued and
9,946,710 outstanding at December 31, 2008 |
|
1,032 |
|
|
|
981 |
|
|
Additional paid-in capital |
|
118,282 |
|
|
|
111,641 |
|
Treasury stock
(13,503 and 59,745 shares repurchased as of
June 30, 2009 and December 31, 2008 respectively) |
|
(76 |
) |
|
|
(1,178 |
) |
|
Accumulated deficit |
|
(12,908 |
) |
|
|
(30,199 |
) |
|
Accumulated other comprehensive income |
|
(4,560 |
) |
|
|
(11,103 |
) |
|
Total stockholders’ equity |
|
101,770 |
|
|
|
70,142 |
|
| |
|
|
|
|
Total liabilities and stockholders’ equity |
$ |
165,188 |
|
|
$ |
141,167 |
|
| |
|
|
|
|
|
|
|
|
