Ebix, Inc. and Subsidiaries
Consolidated Statements of Income
(In thousands, except per share amounts)
Three Months Ended Year Ended
December 31, December 31,
2005 2004 2005 2004
Revenue:
Software $218 $135 $1,218 $869
Services and other 5,948 5,582 22,882 19,114
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Total revenue 6,166 5,717 24,100 19,983
Operating expenses:
Services and other costs 1,412 1,456 5,915 5,341
Product development 799 814 3,258 3,016
Sales and marketing 526 475 2,073 1,602
General and administrative 1,955 2,483 6,883 6,433
Amortization and depreciation 356 375 1,321 1,185
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Total operating expenses 5,048 5,603 19,450 17,577
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Operating income 1,118 114 4,650 2,406
Interest income 4 81 294 151
Interest expense 49 (114) (308) (222)
Foreign exchange gain (loss) (78) 43 (20) 48
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Income before income taxes 1,093 124 4,616 2,383
Income tax expense (149) (21) (294) (143)
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Net income $944 $103 $4,322 $2,240
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Basic earnings per common share $0.35 $0.03 $1.55 $0.80
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Diluted earnings per common share $0.30 $0.03 $1.38 $0.72
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Basic weighted average shares
outstanding 2,736 2,906 2,789 2,784
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Diluted weighted average shares
outstanding 3,114 3,223 3,121 3,104
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