Financial Statement
Ebix, Inc. and Subsidiaries
Condensed Consolidated Statements of Income
(In thousands, except per share data)
| March 31, 2008 | December 31, 2007 | |
| (Unaudited) | ||
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 13,565 | $ 49,466 |
| Accounts receivable, less allowance of $176 and $146, respectively | 15,043 | 8,809 |
| Other current assets | 1,220 | 1,130 |
| Total current assets | 29,828 | 59,405 |
| Property and equipment, net | 3,470 | 3,356 |
| Goodwill | 81,312 | 36,408 |
| Intangible assets, net | 2,022 | 2,023 |
| Total assets | $ 126,895 | $ 108,510 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Accounts payable and accrued expenses | 5,234 | 2,231 |
| Accrued payroll and related benefits | 2,982 | 1,517 |
| Short term debt | 19,945 | 15,650 |
| Current portion of long term debt and capital lease obligations | 498 | 510 |
| Deferred revenue | 6,802 | 5,645 |
| Other current liabilities | 165 | 149 |
| Total current liabilities | 35,626 | 25,702 |
| Convertible debt | 20,000 | 20,000 |
| Long term debt and capital lease obligation, less current portion | 5 | 486 |
| Other liabilities | 2,531 | 1,477 |
| Deferred Rent | 688 | 719 |
| Total liabilities | 58,850 | 48,384 |
| 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, 3,428,913 issued and 3,420,023 outstanding at March 31, 2008 and 3,406,234 issued and 3,397,344 outstanding at December 31, 2007 | 334 | 337 |
| Additional paid-in capital | 115,147 | 114,771 |
| Treasury stock (8,890 shares repurchased as of March 31, 2008 and December 31, 2007) | (149) | (149) |
| Accumulated deficit | (51,843) | (57,513) |
| Accumulated other comprehensive income | 4,556 | 2,680 |
| Total stockholders' equity | 68,045 | 60,126 |
| Total liabilities and stockholders' equity | $ 126,895 | $ 108,510 |
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