Financial Statement
Ebix, Inc. and Subsidiaries
Condensed Consolidated Statements of Income
(In thousands, except per share data)
| March 31, | December 31, | |
| 2007 | 2006 | |
| ASSETS | (Unaudited) | |
| Current assets: | ||
| Cash and cash equivalents | $6,521 | $5,013 |
| Accounts receivable, less allowance of $36 and $36 | 8,691 | 7,973 |
| Prepaids and other current assets | 761 | 913 |
| Total current assets | 15,973 | 13,899 |
| Property and equipment, net | 2,162 | 2,183 |
| Goodwill | 23,218 | 23,118 |
| Intangibles assets, net | 7,414 | 7,867 |
| Other assets | 285 | 285 |
| Total assets | $49,052 | $47,352 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Line of credit | 10,000 | 10,000 |
| Accounts payable and accrued expenses | 1,822 | 1,854 |
| Accrued payroll and related benefits | 1,053 | 1,549 |
| Current portion of long term debt | 1,015 | 1,006 |
| Current portion of capital lease obligation | 3 | 3 |
| Current deferred rent | 44 | 44 |
| Deferred revenue | 5,999 | 5,552 |
| Total current liabilities | 19,936 | 20,008 |
| Long term debt, less current portion | 448 | 934 |
| Long term debt capital lease obligation, less current portion | 9 | 9 |
| Long term deferred rent | 235 | 235 |
| Stockholders' equity: | ||
| Convertible Series D Preferred stock, $.10 par value, 500,000 shares authorized, no shares issued and outstanding | -- | -- |
| Common stock, $.10 par value, 10,000,000 shares authorized, 2,857,178 issued and 2,848,288 outstanding at March 31, 2007 and December 31, 2006 | 286 | 286 |
| Additional paid-in capital | 95,003 | 94,914 |
| Treasury stock 8,890 shares repurchased as of March 31, 2007 and December 31, 2006 | (149) | (149) |
| Accumulated deficit | (67,762) | (69,724) |
| Accumulated other comprehensive income | 1,046 | 839/td> |
| Total stockholders' equity | 28,424 | 26,166 |
| Total liabilities and stockholders' equity | $49,052 | $47,352 |
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