|
|
|
Ebix,
Inc. and Subsidiaries
Consolidated
Balance Sheets
(In thousands, except share amounts)
|
| |
|
|
|
|
|
|
|
September
30,
2009
|
|
December
31,
2008
|
| |
|
(Unaudited) |
|
|
|
ASSETS |
|
|
|
|
|
Current assets: |
|
|
|
|
|
Cash and cash equivalents |
|
$ |
30,857 |
|
|
$ |
9,475 |
|
|
Short-term investments |
|
|
1,369 |
|
|
|
1,536 |
|
|
Accounts receivable, less allowance of $548 and $453, respectively
|
|
|
18,660 |
|
|
|
13,562 |
|
|
Other current assets |
|
|
13,740 |
|
|
|
951 |
|
|
Total current assets |
|
|
64,626 |
|
|
|
25,524 |
|
| |
|
|
|
|
|
Property and equipment, net |
|
|
5,142 |
|
|
|
3,774 |
|
|
Goodwill |
|
|
104,339 |
|
|
|
88,488 |
|
|
Indefinite-lived intangibles |
|
|
14,790 |
|
|
|
11,589 |
|
|
Other intangible assets, net |
|
|
12,222 |
|
|
|
10,235 |
|
|
Other assets |
|
|
700 |
|
|
|
1,557 |
|
| |
|
|
|
|
|
Total assets |
|
$ |
201,819 |
|
|
$ |
141,167 |
|
| |
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS’
EQUITY |
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
Accounts payable and accrued expenses |
|
$ |
4,184 |
|
|
$ |
8,245 |
|
|
Accrued payroll and related benefits |
|
|
2,408 |
|
|
|
2,709 |
|
|
Short term debt |
|
|
23,850 |
|
|
|
24,945 |
|
|
Current portion of convertible debt |
|
|
15,693 |
|
|
|
11,518 |
|
|
Current portion of long term debt and capital lease obligations
|
|
|
181 |
|
|
|
912 |
|
|
Deferred revenue |
|
|
6,763 |
|
|
|
5,383 |
|
|
Other current liabilities |
|
|
321 |
|
|
|
142 |
|
| |
|
|
|
|
|
Total current liabilities
|
|
|
53,400 |
|
|
|
53,854 |
|
| |
|
|
|
|
|
Convertible debt |
|
|
24,188 |
|
|
|
15,000 |
|
|
Long term debt and capital lease obligation, less current
portion |
|
|
398 |
|
|
|
290 |
|
|
Other liabilities |
|
|
2,204 |
|
|
|
941 |
|
|
Deferred revenue |
|
|
53 |
|
|
|
330 |
|
|
Deferred rent |
|
|
702 |
|
|
|
610 |
|
| |
|
|
|
|
|
Total liabilities |
|
|
80,945 |
|
|
|
71,025 |
|
| |
|
|
|
|
|
Commitments and Contingencies,
Note 8 |
|
|
|
|
| |
|
|
|
|
|
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,
10,509,741 issued and 10,496,238 outstanding at
September 30, 2009 and 10,006,455 issued
and 9,946,710 outstanding at December 31, 2008 |
|
|
1,049 |
|
|
|
981 |
|
|
Additional paid-in capital |
|
|
123,835 |
|
|
|
111,641 |
|
Treasury stock (13,503 and 59,745 shares repurchased as
of
September 30, 2009 and December 31, 2008 respectively) |
|
|
(76 |
) |
|
|
(1,178 |
) |
|
Accumulated deficit |
|
|
(3,474 |
) |
|
|
(30,199 |
) |
|
Accumulated other comprehensive income |
|
|
(460 |
) |
|
|
(11,103 |
) |
|
Total stockholders’ equity
|
|
|
120,874 |
|
|
|
70,142 |
|
| |
|
|
|
|
|
Total liabilities and stockholders’
equity |
|
$ |
201,819 |
|
|
$ |
141,167 |
|
| |
|
|
|
|
|
|
|
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|
