Financial Statement
Ebix, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(In thousands, except for share and per share amounts)
| June 30, | December 31, | |
| 2007 | 2006 | |
| (Unaudited) | ||
| ASSETS | ||
| Current assets: | ||
| Cash and cash equivalents | $ 11,700 | $ 5,013 |
| Accounts receivable, less allowance of $58 and $36, respectively | 9,680 | 7,973 |
| Other current assets | 1,185 | 913 |
| Total current assets | 22,565 | 13,899 |
| Property and equipment, net | 2,169 | 2,183 |
| Goodwill | 23,752 | 23,118 |
| Intangible assets, net | 6,994 | 7,867 |
| Other assets | 260 | 285 |
| Total assets | $ 55,740 | $ 47,352 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Current liabilities: | ||
| Line of credit | $ 0 | $ 10,000 |
| Accounts payable and accrued expenses | 1,512 | 1,854 |
| Accrued payroll and related benefits | 950 | 1,549 |
| Current portion of long term debt | 1,061 | 1,006 |
| Current portion of capital lease obligations | 3 | 3 |
| Current deferred rent | 44 | 44 |
| Deposits | 98 | -- |
| Deferred revenue | 6,318 | 5,552 |
| Total current liabilities | 9,986 | 20,008 |
| Long term debt, less current portion | 456 | 934 |
| Long term capital lease obligation, less current portion | 7 | 9 |
| Long term deferred rent | 230 | 235 |
| Other Liabilities | -- | -- |
| 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, 3,260,964 issued and 2,848,288 outstanding at June 30, 2007 and December 31, 2006 | 323 | 286 |
| Additional paid-in capital | 108,365 | 94,914 |
| Treasury stock 8,890 shares repurchased as of June 30, 2007 and December 31, 2006 | (149) | (149) |
| Accumulated deficit | (65,249) | (69,724) |
| Accumulated other comprehensive income | 1,771 | 839 |
| Total stockholders' equity | 45,061 | 26,166 |
| Total liabilities and stockholders' equity | $ 55,740 | $ 47,352 |
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