Ebix, Inc. and Subsidiaries
Condensed Consolidated Statements of Income
(In thousands, except per share data)
(Unaudited)
Three Months Ended Six Months Ended
June 30, June 30,
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2007 2006 2007 2006
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Revenue:
Services and other (Including
revenues from related parties of
$406, $702, $984 and $1,415,
respectively) $ 9,489 $ 6,601 $18,191 $11,754
Software 327 428 643 925
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Total revenue 9,816 7,029 18,834 12,679
Operating expenses:
Services and other costs 1,718 1,359 3,284 2,690
Product development 2,198 1,099 4,048 1,968
Sales and marketing 1,078 650 2,030 1,240
General and administrative 1,899 1,997 3,686 3,361
Amortization and depreciation 625 417 1,250 731
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Total operating expenses 7,518 5,522 14,298 9,990
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Operating income 2,298 1,507 4,536 2,689
Interest income 136 59 207 138
Interest expense (142) (55) (370) (87)
Foreign exchange gain 122 46 127 88
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Income before income taxes 2,414 1,557 4,500 2,828
Income tax expense 99 (59) (25) (195)
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Net income $ 2,513 $ 1,498 $ 4,475 $ 2,633
========= ======== ======= ========
Basic earnings per common share $ 0.85 $ 0.54 $ 1.54 $ 0.96
Diluted earnings per common share $ 0.75 $ 0.48 $ 1.36 $ 0.84
Basic weighted average shares
outstanding 2,973 2,759 2,911 2,754
Diluted weighted average shares
outstanding 3,366 3,136 3,291 3,136 |
