Ebix, Inc.
Consolidated Statements of Cash Flows
(In thousands)
(Unaudited)
Quarter Ended March 31,
2006 2005
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Cash flows from operating activities:
Net income 1,135 1,068
Adjustments to reconcile net income to net
cash provided by (used in) operating
activities:
Depreciation and amortization 314 329
Stock-based compensation 21 (32)
Restricted stock compensation 68
Provision for doubtful accounts 7 2
Changes in assets and liabilities:
Accounts receivable (390) (176)
Other assets (44) 3
Accounts payable and accrued expenses (444) (58)
Accrued payroll and related benefits (773) 141
Deferred revenue 223 501
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Net cash provided by (used in) operating
activities 117 1,778
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Cash flows from investing activities:
Capital expenditures (17) (276)
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Net cash used in investing activities (17) (276)
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Cash flows from financing activities:
Proceeds for the issuance of common stock, net
of issuance costs - -
Proceeds from the exercise of stock options 31 12
Payments of long term debt (499) (500)
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Net cash provided by (used in) financing
activities (468) (488)
Effect of foreign exchange rates on cash (119) 56
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Net change in cash and cash equivalents (487) 1,070
Cash and cash equivalents at the beginning
of the period 6,733 5,843
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Cash and cash equivalents at the end of the
period $6,246 $6,913
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Supplemental disclosures of cash flow
information:
Interest paid $- $47
Income taxes paid $40 $86
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