| |
|
|
|
|
|
|
|
|
| Ebix, Inc.
and Subsidiaries |
| Consolidated
Statements of Income |
| (In thousands,
except per share data) |
| (Unaudited)
|
| |
|
|
|
|
|
|
|
|
| |
|
Three Months Ended December 31,
|
|
Twelve Months Ended December
31, |
| |
|
2008 |
|
2007 |
|
2008 |
|
2007 |
| |
|
|
|
|
|
|
|
|
| Operating Revenue |
|
|
20,143 |
|
|
|
12,201 |
|
|
|
74,752 |
|
|
|
42,841 |
|
| |
|
|
|
|
|
|
|
|
| Operating expenses:
|
|
|
|
|
|
|
|
|
| Cost of services provided
|
|
|
4,060 |
|
|
|
1,990 |
|
|
|
14,161 |
|
|
|
7,114 |
|
| Product development
|
|
|
2,648 |
|
|
|
1,487 |
|
|
|
8,962 |
|
|
|
7,609 |
|
| Sales and marketing
|
|
|
1,098 |
|
|
|
987 |
|
|
|
3,634 |
|
|
|
4,116 |
|
| General and administrative
|
|
|
3,393 |
|
|
|
2,467 |
|
|
|
15,425 |
|
|
|
8,602 |
|
| Amortization and depreciation
|
|
|
846 |
|
|
|
717 |
|
|
|
3,306 |
|
|
|
2,599 |
|
| Total operating expenses
|
|
|
12,045 |
|
|
|
7,648 |
|
|
|
45,488 |
|
|
|
30,040 |
|
| Operating income
|
|
|
8,098 |
|
|
|
4,553 |
|
|
|
29,264 |
|
|
|
12,801 |
|
| Interest income |
|
|
79 |
|
|
|
121 |
|
|
|
475 |
|
|
|
509 |
|
| Interest expense |
|
|
(450 |
) |
|
|
19 |
|
|
|
(1,626 |
) |
|
|
(358 |
) |
| Foreign exchange gain
(loss) |
|
|
451 |
|
|
|
(55 |
) |
|
|
586 |
|
|
|
247 |
|
| Income before income
taxes |
|
|
8,178 |
|
|
|
4,638 |
|
|
|
28,699 |
|
|
|
13,199 |
|
| Income tax (expense)
|
|
|
(267 |
) |
|
|
(140 |
) |
|
|
(1,385 |
) |
|
|
(533 |
) |
| Net income |
|
$ |
7,911 |
|
|
$ |
4,498 |
|
|
$ |
27,314 |
|
|
$ |
12,666 |
|
| |
|
|
|
|
|
|
|
|
| Basic earnings per
common share * |
|
$ |
0.80 |
|
|
$ |
0.45 |
|
|
$ |
2.78 |
|
|
$ |
1.36 |
|
| |
|
|
|
|
|
|
|
|
| Diluted earnings
per common share * |
|
$ |
0.66 |
|
|
$ |
0.40 |
|
|
$ |
2.28 |
|
|
$ |
1.20 |
|
| |
|
|
|
|
|
|
|
|
| Basic weighted average
shares outstanding * |
|
|
9,842 |
|
|
|
9,922 |
|
|
|
9,838 |
|
|
|
9,306 |
|
| |
|
|
|
|
|
|
|
|
| Diluted weighted average
shares outstanding * |
|
|
12,290 |
|
|
|
11,334 |
|
|
|
12,260 |
|
|
|
10,535 |
|
| |
|
|
|
|
|
|
|
|
| * Adjusted for all
periods presented to reflect the retroactive effect
of 3-for-1 stock split dated October 9, 2008 |
| |
|
|
